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York Property Solutions Ltd
Financial Statements
For The Year Ended 30 June 2024
Townend English
Chartered Accountants
81-83 Market Street
Pocklington
YO42 2AE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08566605
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 236,254 232,095
236,254 232,095
CURRENT ASSETS
Debtors 5 750,665 821,853
Cash at bank and in hand 246,754 375,917
997,419 1,197,770
Creditors: Amounts Falling Due Within One Year 6 (948,818 ) (1,013,057 )
NET CURRENT ASSETS (LIABILITIES) 48,601 184,713
TOTAL ASSETS LESS CURRENT LIABILITIES 284,855 416,808
Creditors: Amounts Falling Due After More Than One Year 7 (62,718 ) (96,828 )
NET ASSETS 222,137 319,980
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account 222,127 319,970
SHAREHOLDERS' FUNDS 222,137 319,980
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Webber
Director
24 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
York Property Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08566605 . The registered office is Suite 8 Woodhouse Grange Business Centre, Sutton On Derwent, York, YO41 4DF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 33% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 42 (2023: 48)
42 48
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 45,492 366,817 6,891 9,563 428,763
Additions 526 48,792 - 5,926 55,244
As at 30 June 2024 46,018 415,609 6,891 15,489 484,007
Depreciation
As at 1 July 2023 23,140 160,545 5,005 7,978 196,668
Provided during the period 4,575 43,629 377 2,504 51,085
As at 30 June 2024 27,715 204,174 5,382 10,482 247,753
Net Book Value
As at 30 June 2024 18,303 211,435 1,509 5,007 236,254
As at 1 July 2023 22,352 206,272 1,886 1,585 232,095
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 67,520 565,380
Prepayments and accrued income 588,802 231,743
Other debtors 51,730 24,730
VAT 15,746 -
Director's loan account 26,867 -
750,665 821,853
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 635,367 570,992
Bank loans and overdrafts 34,110 34,110
Corporation tax 2,784 17,774
Other taxes and social security 57,750 54,006
VAT - 48,573
Other creditors 1,254 7,301
Other loans - 3,993
Pension creditor 2,033 3,607
Accruals and deferred income 215,520 272,617
Director's loan account - 84
948,818 1,013,057
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans > 1 year 62,718 96,828
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Matthew Webber - 26,867 - - 26,867
The above loan is unsecured, interest free and repayable on demand.
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