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Registration number: 13259661

Y78 Adventure Limited

trading as Y78 Adventure Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 30 March 2024

 

Y78 Adventure Limited

trading as Y78 Adventure Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Y78 Adventure Limited

trading as Y78 Adventure Ltd

Company Information

Directors

Mr S P Lane

Mrs R C D C M Lane

Registered office

Unit C Swife Business Park
Burwash
Broad Oak
East Sussex
TN21 8UP

Accountants

Manningtons
8 High Street
High Street
Heathfield
East Sussex
TN21 8LS

 

Y78 Adventure Limited

trading as Y78 Adventure Ltd

(Registration number: 13259661)
Balance Sheet as at 30 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

19,257

17,112

Tangible assets

5

493

1,668

Investments

6

553,000

-

 

572,750

18,780

Current assets

 

Debtors

7

-

319,424

Cash at bank and in hand

 

182

456,601

 

182

776,025

Creditors: Amounts falling due within one year

8

(260,081)

(567,626)

Net current (liabilities)/assets

 

(259,899)

208,399

Net assets

 

312,851

227,179

Capital and reserves

 

Called up share capital

10

10

Retained earnings

312,841

227,169

Shareholders' funds

 

312,851

227,179

For the financial period ending 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 March 2025 and signed on its behalf by:
 

 

Y78 Adventure Limited

trading as Y78 Adventure Ltd

(Registration number: 13259661)
Balance Sheet as at 30 March 2024

.........................................
Mr S P Lane
Director

 

Y78 Adventure Limited

trading as Y78 Adventure Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit C Swife Business Park
Burwash
Broad Oak
East Sussex
TN21 8UP
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Y78 Adventure Limited

trading as Y78 Adventure Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

3 years straight line

Fixtures & Fittings

3 years straight line

Office Equipment

3 years straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Y78 Adventure Limited

trading as Y78 Adventure Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

 

Y78 Adventure Limited

trading as Y78 Adventure Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 April 2023

41,016

4,000

45,016

At 30 March 2024

41,016

4,000

45,016

Amortisation

At 1 April 2023

23,871

1,888

25,759

At 30 March 2024

23,871

1,888

25,759

Carrying amount

At 30 March 2024

17,145

2,112

19,257

At 31 March 2023

15,000

2,112

17,112

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

3,784

280

4,064

Additions

268

-

268

At 30 March 2024

4,052

280

4,332

Depreciation

At 1 April 2023

2,303

93

2,396

Charge for the period

1,350

93

1,443

At 30 March 2024

3,653

186

3,839

Carrying amount

At 30 March 2024

399

94

493

At 31 March 2023

1,481

187

1,668

 

Y78 Adventure Limited

trading as Y78 Adventure Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

553,000

-

Subsidiaries

£

Cost or valuation

At 1 April 2023

553,000

Provision

Carrying amount

At 30 March 2024

553,000

7

Debtors

2024
£

2023
£

Trade debtors

-

69,229

Other debtors

-

30,000

Director loan account

-

220,195

-

319,424

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

102,740

91,200

Accruals and deferred income

1,000

7,016

Other creditors

156,341

469,410

260,081

567,626