Company registration number 01532071 (England and Wales)
YEARNDALE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
YEARNDALE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
YEARNDALE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,455,702
1,455,572
Investments
4
311,855
222,585
1,767,557
1,678,157
Current assets
Debtors
5
643,901
698,070
Cash at bank and in hand
27,781
246,340
671,682
944,410
Creditors: amounts falling due within one year
6
(2,402,269)
(2,430,127)
Net current liabilities
(1,730,587)
(1,485,717)
Total assets less current liabilities
36,970
192,440
Provisions for liabilities
(143,417)
(143,417)
Net (liabilities)/assets
(106,447)
49,023
Capital and reserves
Called up share capital
1,110
1,110
Profit and loss reserves
(107,557)
47,913
Total equity
(106,447)
49,023
For the financial year ended 31 March 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 26 March 2025
J Bingham
Director
Company registration number 01532071 (England and Wales)
YEARNDALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Yearndale Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 6, 2-20 Scrutton Street, London, United Kingdom, EC2A 4RJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
NA
Office equipment
25% on cost
Fixtures and fittings
25% on reducing balance
Computers
25% on cost
Freehold land and assets in the course of construction are not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
YEARNDALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
YEARNDALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Freehold land and buildings
Office equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 April 2023
1,451,889
9,968
37,082
7,373
1,506,312
Additions
2,500
2,500
At 31 March 2024
1,451,889
12,468
37,082
7,373
1,508,812
Depreciation and impairment
At 1 April 2023
9,204
35,379
6,157
50,740
Depreciation charged in the year
1,229
426
715
2,370
At 31 March 2024
10,433
35,805
6,872
53,110
Carrying amount
At 31 March 2024
1,451,889
2,035
1,277
501
1,455,702
At 31 March 2023
1,451,889
764
1,703
1,216
1,455,572
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
311,855
222,585
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
222,585
Additions
89,270
At 31 March 2024
311,855
Carrying amount
At 31 March 2024
311,855
At 31 March 2023
222,585
YEARNDALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
431,937
431,937
Other debtors
211,964
266,133
643,901
698,070
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,449
256
Taxation and social security
353
353
Other creditors
2,398,467
2,429,518
2,402,269
2,430,127
7
Related Party Disclosure
Amounts owed to the company
At he balance sheet date:
The company was owed £41,808 (2023: £63,069) from Graigh Ltd, a connected party.
The company was owed £431,937 (2023: £431,937) from Harbright Limited, a subsidiary company.
Amounts owed by the company
At he balance sheet date:
The company owed £1,488,264 (2023: £1,492,464) to Lamvale Properties Limited, a connected party.
The company owed £7,836 (2023: was owed £164) to Whitelocke House Limited, a connected party.
The company owed £891,594 (2023: £924,762) to the shareholders of the company.
There are no terms of repayment and no interest is charged on the above loans.