Company Registration No. 09168529 (England and Wales)
YATSON & CO LTD
Unaudited accounts
for the year ended 31 August 2024
YATSON & CO LTD
Unaudited accounts
Contents
YATSON & CO LTD
Company Information
for the year ended 31 August 2024
Company Number
09168529 (England and Wales)
Registered Office
The Fisherbeck Hotel
Lake Road
Ambleside
LA22 0DH
ENGLAND
Accountants
KONG KUEN LEO HO
KONSIO CONSULTING SERVICE LIMITED
196 CROXLEY VIEW
WATFORD
HERTFORDSHIRE
WD18 6PQ
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
YATSON & CO LTD
for the year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
YATSON & CO LTD for the year ended
31 August 2024 as set out on pages
5 -
7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of YATSON & CO LTD, as a body, in accordance with the terms of our engagement letter dated 30 August 2019. Our work has been undertaken solely to prepare for your approval the accounts of YATSON & CO LTD and state those matters that we have agreed to state to the Board of Directors of YATSON & CO LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than YATSON & CO LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that YATSON & CO LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of YATSON & CO LTD. You consider that YATSON & CO LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of YATSON & CO LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
KONG KUEN LEO HO
Chartered Certified Accountants
KONSIO CONSULTING SERVICE LIMITED
196 CROXLEY VIEW
WATFORD
HERTFORDSHIRE
WD18 6PQ
21 March 2025
YATSON & CO LTD
Statement of financial position
as at 31 August 2024
Tangible assets
1,202,938
1,265,820
Cash at bank and in hand
32
55,766
Creditors: amounts falling due within one year
(332,516)
(292,962)
Net current assets
22,044
119,725
Total assets less current liabilities
1,224,982
1,385,545
Creditors: amounts falling due after more than one year
(1,412,255)
(1,477,486)
Net liabilities
(187,273)
(91,941)
Called up share capital
100
100
Profit and loss account
(187,373)
(92,041)
Shareholders' funds
(187,273)
(91,941)
For the year ending 31 August 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 21 March 2025 and were signed on its behalf by
Mr Zhiyong Zhou
Director
Company Registration No. 09168529
YATSON & CO LTD
Notes to the Accounts
for the year ended 31 August 2024
YATSON & CO LTD is a private company, limited by shares, registered in England and Wales, registration number 09168529. The registered office is The Fisherbeck Hotel, Lake Road, Ambleside, LA22 0DH, ENGLAND.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
Land & buildings
@2% straight line (50 years)
Plant & machinery
@20% straight line
Fixtures & fittings
@20% straight line
The accompanying financial statements have been prepared under the assumption that the company will continue as a going concern. As presented in the financial statements, the company has incurred substantial losses, loan repayments, and VAT liabilities, which have raised significant doubts about its ability to continue as a going concern. The financial statements do not include any adjustments that may result from the outcome of this uncertainty. Our opinion regarding this matter remains unchanged.
YATSON & CO LTD
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2023
1,285,000
76,311
11,817
70,474
1,443,602
Disposals
-
-
(11,817)
-
(11,817)
At 31 August 2024
1,285,000
76,311
-
70,474
1,431,785
At 1 September 2023
102,800
33,656
2,954
38,372
177,782
Charge for the year
25,700
14,224
-
14,095
54,019
On disposals
-
-
(2,954)
-
(2,954)
At 31 August 2024
128,500
47,880
-
52,467
228,847
At 31 August 2024
1,156,500
28,431
-
18,007
1,202,938
At 31 August 2023
1,182,200
42,655
8,863
32,102
1,265,820
Amounts falling due after more than one year
Other debtors
354,528
356,921
6
Creditors: amounts falling due within one year
2024
2023
Other creditors
1,300
1,500
Loans from directors
279,186
140,398
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,412,255
1,477,486
Included within the creditors’ balance is £1,412,255.00. Of this amount, £814,706.97 is a long-term loan that the director invested in the company at the commencement of the business. The director has waived his right to charge interest on this loan in the current tax year. The loan is unsecured. £26,482.21 is a bounced check; £19,651.00 is a Bluerock loan; and £551,414.33 is the Bank loan. The total amount outstanding at the end of the year is as above:
The ultimate controlling party is the director of the company, Mr Zhiyong Zhou.
9
Average number of employees
During the year the average number of employees was 15 (2023: 13).