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Company Registration No. 08915707 (England and Wales)
YOLO IT Limited Unaudited accounts for the year ended 31 May 2024
YOLO IT Limited Unaudited accounts Contents
Page
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YOLO IT Limited Company Information for the year ended 31 May 2024
Director
Paul Ingram
Company Number
08915707 (England and Wales)
Registered Office
Suite 102. 111 West George Street, Glasgow G2 1QX
Accountants
Bradbury Stell Unit 2 Beverley Court 26 Elmtree Road Teddington Middlesex TW11 8ST
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YOLO IT Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Debtors
17,235 
13,364 
Cash at bank and in hand
(341)
- 
16,894 
13,364 
Creditors: amounts falling due within one year
(188,112)
11,758 
Net current (liabilities)/assets
(171,218)
25,122 
Total assets less current liabilities
(171,218)
25,122 
Creditors: amounts falling due after more than one year
(7,235)
(20,000)
Net (liabilities)/assets
(178,453)
5,122 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(178,454)
5,121 
Shareholders' funds
(178,453)
5,122 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 July 2024 and were signed on its behalf by
Paul Ingram Director Company Registration No. 08915707
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YOLO IT Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
YOLO IT Limited is a private company, limited by shares, registered in England and Wales, registration number 08915707. The registered office is Suite 102. 111 West George Street, , Glasgow , G2 1QX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25%
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 June 2023
4,877 
At 31 May 2024
4,877 
Depreciation
At 1 June 2023
4,877 
At 31 May 2024
4,877 
Net book value
At 31 May 2024
- 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
- 
13,364 
Other debtors
3,871 
- 
3,871 
13,364 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
13,364 
- 
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YOLO IT Limited Notes to the Accounts for the year ended 31 May 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
93,749 
110,204 
Taxes and social security
221,052 
214,232 
Other creditors
2,687 
- 
Loans from directors
(140,372)
(348,273)
Accruals
996 
2,079 
188,112 
(11,758)
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
7,235 
20,000 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Loans with Related Parties
348,273 
- 
207,901 
140,372 
348,273 
- 
207,901 
140,372 
Overdrawn Director laon account will be paid back within the designated time frame within nine months after the end of the accounting period by 01st March 2025.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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