Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-312true2023-09-01falsebuilders2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04268112 2023-09-01 2024-08-31 04268112 2022-09-01 2023-08-31 04268112 2024-08-31 04268112 2023-08-31 04268112 c:Director1 2023-09-01 2024-08-31 04268112 d:PlantMachinery 2023-09-01 2024-08-31 04268112 d:PlantMachinery 2024-08-31 04268112 d:PlantMachinery 2023-08-31 04268112 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04268112 d:MotorVehicles 2023-09-01 2024-08-31 04268112 d:MotorVehicles 2024-08-31 04268112 d:MotorVehicles 2023-08-31 04268112 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04268112 d:FurnitureFittings 2023-09-01 2024-08-31 04268112 d:FurnitureFittings 2024-08-31 04268112 d:FurnitureFittings 2023-08-31 04268112 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04268112 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04268112 d:CurrentFinancialInstruments 2024-08-31 04268112 d:CurrentFinancialInstruments 2023-08-31 04268112 d:Non-currentFinancialInstruments 2024-08-31 04268112 d:Non-currentFinancialInstruments 2023-08-31 04268112 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 04268112 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 04268112 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 04268112 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 04268112 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 04268112 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 04268112 d:ShareCapital 2024-08-31 04268112 d:ShareCapital 2023-08-31 04268112 d:RetainedEarningsAccumulatedLosses 2024-08-31 04268112 d:RetainedEarningsAccumulatedLosses 2023-08-31 04268112 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-08-31 04268112 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 04268112 c:FRS102 2023-09-01 2024-08-31 04268112 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 04268112 c:FullAccounts 2023-09-01 2024-08-31 04268112 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04268112 2 2023-09-01 2024-08-31 04268112 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 04268112









IAN YOUNG BUILDING LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
IAN YOUNG BUILDING LTD
REGISTERED NUMBER: 04268112

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,074
9,278

  
10,074
9,278

Current assets
  

Stocks
 5 
1,750
1,150

Debtors: amounts falling due within one year
 6 
10,433
3,608

Cash at bank and in hand
 7 
1
610

  
12,184
5,368

Creditors: amounts falling due within one year
 8 
(21,490)
(20,539)

Net current liabilities
  
 
 
(9,306)
 
 
(15,171)

Total assets less current liabilities
  
768
(5,893)

Creditors: amounts falling due after more than one year
 9 
(3,600)
(7,200)

  

Net liabilities
  
(2,832)
(13,093)


Capital and reserves
  

Called up share capital 
  
10,100
10,100

Profit and loss account
  
(12,932)
(23,193)

  
(2,832)
(13,093)


Page 1

 
IAN YOUNG BUILDING LTD
REGISTERED NUMBER: 04268112
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 March 2025.




................................................
I Young
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
IAN YOUNG BUILDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Ian Young Building Ltd is a private company limited by share capital and was incorporated in England and Wales. The principal activity of the Company throughout the year was that of builders.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis. The Company is reliant on the financial support of the Director, which he has pledged for the foreseeable future.

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
IAN YOUNG BUILDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% reducing balance
Motor vehicles
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
IAN YOUNG BUILDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
IAN YOUNG BUILDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
IAN YOUNG BUILDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 September 2023
30,797
8,499
4,959
44,255


Additions
3,218
-
-
3,218


Disposals
(5,882)
-
(3,235)
(9,117)



At 31 August 2024

28,133
8,499
1,724
38,356



Depreciation


At 1 September 2023
22,922
7,637
4,418
34,977


Charge for the year on owned assets
1,664
129
80
1,873


Disposals
(5,545)
-
(3,023)
(8,568)



At 31 August 2024

19,041
7,766
1,475
28,282



Net book value



At 31 August 2024
9,092
733
249
10,074



At 31 August 2023
7,875
862
541
9,278

Page 7

 
IAN YOUNG BUILDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Stocks

2024
2023
£
£

Raw materials and consumables
400
350

Work in progress
1,350
800

1,750
1,150



6.


Debtors

2024
2023
£
£


Trade debtors
-
363

Other debtors
10,433
3,245

10,433
3,608


Included within other debtors is a loan to I Young, the Director, amounting to £5,477 (2023 - £Nil).




7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1
610

Less: bank overdrafts
(7,116)
-

(7,115)
610


Page 8

 
IAN YOUNG BUILDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
7,116
-

Bank loans
3,600
3,600

Trade creditors
4,280
374

Corporation tax
2,400
-

Other taxation and social security
1,367
3,475

Other creditors
1,512
11,931

Accruals and deferred income
1,215
1,159

21,490
20,539



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,600
7,200

3,600
7,200



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
3,600
3,600

Amounts falling due 1-2 years

Bank loans
3,600
7,200

7,200
10,800


Page 9

 
IAN YOUNG BUILDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

11.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1
610




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents the contribution payable by the Company to the fund and amounted to £600 (2023 - £600).   No contributions were outstanding and payable to the fund at the balance sheet date (2023 - £Nil).


13.


Controlling party

The Company is controlled by the Director, I Young by virtue of his shareholding, as described in the Director's report.

 
Page 10