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Registration number: 13434582

YES2YES Asset Developments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

YES2YES Asset Developments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

YES2YES Asset Developments Ltd

Company Information

Directors

T Scarth

AJ Shkambi

Registered office

Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

YES2YES Asset Developments Ltd

(Registration number: 13434582)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

398,161

-

Current assets

 

Debtors

5

5,843

-

Cash at bank and in hand

 

536

156,161

 

6,379

156,161

Creditors: Amounts falling due within one year

6

(369,773)

(99,797)

Net current (liabilities)/assets

 

(363,394)

56,364

Net assets

 

34,767

56,364

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

34,567

56,164

Shareholders' funds

 

34,767

56,364

 

YES2YES Asset Developments Ltd

(Registration number: 13434582)
Balance Sheet as at 30 June 2024

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year 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 19 February 2025 and signed on its behalf by:
 

.........................................
T Scarth
Director

.........................................
AJ Shkambi
Director

 

YES2YES Asset Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the Board on 19 February 2025.

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.

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.

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.

 

YES2YES Asset Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

YES2YES Asset Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3

Staff numbers

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

4

Investment properties

2024
£

Additions

398,161

At 30 June

398,161

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

2023
£

Prepayments

147

-

Other debtors

5,696

-

 

5,843

-

 

YES2YES Asset Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

22,136

Accruals and deferred income

1,680

1,680

Other creditors

368,093

75,981

369,773

99,797

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary shares of £1 each

100

100

100

100

200

200

200

200

8

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

T Scarth

Directors loan account

(27,985)

36,500

(189,814)

(181,299)

AJ Shkambi

Directors loan account

(20,706)

20,000

(601)

(1,306)

 

YES2YES Asset Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

T Scarth

Directors loan account

-

-

(27,985)

(27,985)

AJ Shkambi

Directors loan account

-

200

(20,906)

(20,706)

9

Transition to FRS 102

Balance Sheet at 1 July 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Current assets

Cash at bank and in hand

200

-

-

200

Capital and reserves

Total equity

-

-

-

-

 

YES2YES Asset Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Balance Sheet at 30 June 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Current assets

Cash at bank and in hand

156,161

-

-

156,161

Creditors: Amounts falling due within one year

(99,797)

-

-

(99,797)

Net assets

56,364

-

-

56,364

Capital and reserves

Total equity

-

-

-

-