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No description of principal activity
2023-02-22
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
14681342
2023-02-22
2024-02-28
14681342
2024-02-28
14681342
2023-02-21
14681342
bus:Director1
2023-02-22
2024-02-28
14681342
core:WithinOneYear
2024-02-28
14681342
core:AfterOneYear
2024-02-28
14681342
core:ShareCapital
2024-02-28
14681342
core:RetainedEarningsAccumulatedLosses
2024-02-28
14681342
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2024-02-28
14681342
core:CostValuation
core:Non-currentFinancialInstruments
2024-02-28
14681342
core:Non-currentFinancialInstruments
2024-02-28
14681342
bus:Director1
2024-02-28
14681342
bus:SmallEntities
2023-02-22
2024-02-28
14681342
bus:AuditExemptWithAccountantsReport
2023-02-22
2024-02-28
14681342
bus:SmallCompaniesRegimeForAccounts
2023-02-22
2024-02-28
14681342
bus:PrivateLimitedCompanyLtd
2023-02-22
2024-02-28
14681342
bus:AbridgedAccounts
2023-02-22
2024-02-28
COMPANY REGISTRATION NUMBER:
14681342
Yellow Rose Financial Services Limited |
|
Filleted Unaudited Abridged Financial Statements |
|
Yellow Rose Financial Services Limited |
|
Abridged Financial Statements |
|
Period from 22 February 2023 to 28 February 2024
Abridged statement of financial position |
1 to 2 |
|
|
Notes to the abridged financial statements |
3 to 5 |
|
|
Yellow Rose Financial Services Limited |
|
Abridged Statement of Financial Position |
|
28 February 2024
Fixed assets
Creditors: amounts falling due within one year |
88,935 |
|
|
-------- |
|
Net current liabilities |
|
88,935 |
|
|
--------- |
Total assets less current liabilities |
|
101,065 |
|
|
|
Creditors: amounts falling due after more than one year |
6 |
|
80,000 |
|
|
--------- |
Net assets |
|
21,065 |
|
|
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
Profit and loss account |
|
20,965 |
|
|
-------- |
Shareholders funds |
|
21,065 |
|
|
-------- |
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.
For the period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged income statement and the abridged statement of financial position for the period ending 28 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Yellow Rose Financial Services Limited |
|
Abridged Statement of Financial Position (continued) |
|
28 February 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
20 February 2025
, and are signed on behalf of the board by:
Company registration number:
14681342
Yellow Rose Financial Services Limited |
|
Notes to the Abridged Financial Statements |
|
Period from 22 February 2023 to 28 February 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1-2 Heritage Park, Hayes Way, Cannock, Staffordshire, WS11 7LT, England.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) Disclosures in respect of share-based payments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
1
.
5.
Investments
|
£ |
Cost |
|
At 22 February 2023 |
– |
Additions |
190,000 |
|
--------- |
At 28 February 2024 |
190,000 |
|
--------- |
Impairment |
|
At 22 February 2023 and 28 February 2024 |
– |
|
--------- |
Carrying amount |
|
At 28 February 2024 |
190,000 |
|
--------- |
|
|
6.
Creditors:
amounts falling due after more than one year
Included within creditors due after more than one year is a loan balance of £80,000 (2023 - £0) that is secured against the assets of the company.
7.
Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
|
28 Feb 24 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
N E Johnson |
– |
(
437) |
(
437) |
|
|
---- |
---- |
---- |
|
|
|
|
|