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Registered number: 02062196














YORKBRIDGE LIMITED

 
UNAUDITED

 FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
YORKBRIDGE LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
YORKBRIDGE LIMITED
REGISTERED NUMBER:02062196

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
32,578
36,470

  
32,578
36,470

Current assets
  

Debtors: amounts falling due within one year
 5 
275,327
274,671

Current asset investments
 6 
1,250
12,659

Cash at bank and in hand
 7 
540,834
459,499

  
817,411
746,829

Creditors: amounts falling due within one year
 8 
(156,675)
(138,681)

Net current assets
  
 
 
660,736
 
 
608,148

Total assets less current liabilities
  
693,314
644,618

Creditors: amounts falling due after more than one year
 9 
(2,667)
(24,000)

Provisions for liabilities
  

Deferred tax
 11 
(8,007)
(8,990)

  
 
 
(8,007)
 
 
(8,990)

Net assets
  
682,640
611,628


Capital and reserves
  

Called up share capital 
 12 
100
100

Capital redemption reserve
  
100
100

Profit and loss account
  
682,440
611,428

  
682,640
611,628


1

 
YORKBRIDGE LIMITED
REGISTERED NUMBER:02062196
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Isadore
Director

Date: 26 February 2025

The notes on pages 3 to 9 form part of these financial statements.

2

 
YORKBRIDGE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Yorkbridge Limited is a private company, limited by shares, registered in England and Wales, registration number 02062196. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE and the trading address is 81-82 Crawford Street, London, W1H 2HA.

The principal activity of the company continued to be that of a residential letting office and estate agents, trading under the name of York Estates.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of property sale commissions and letting fees during the year, exclusive of Value Added Tax. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

3

 
YORKBRIDGE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short term leasehold property
-
Over period of lease
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
10% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

 Debtors

Short term debtors are measured at transaction price, less any impairment.

4

 
YORKBRIDGE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.10

 Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

 
2.12

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Tangible fixed assets





Short term leasehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 October 2023
8,079
24,712
170,555
203,346



At 30 September 2024

8,079
24,712
170,555
203,346



Depreciation


At 1 October 2023
8,079
22,267
136,530
166,876


Charge for the year on owned assets
-
489
3,403
3,892



At 30 September 2024

8,079
22,756
139,933
170,768



Net book value



At 30 September 2024
-
1,956
30,622
32,578



At 30 September 2023
-
2,445
34,025
36,470

5

 
YORKBRIDGE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Debtors

As restated
2024
2023
£
£


Trade debtors
18,836
14,990

Amounts owed by group undertakings
255,153
255,644

Other debtors
-
1,928

Prepayments
1,338
2,109

275,327
274,671



6.


Current asset investments

2024
2023
£
£

Listed investments
-
11,409

Unlisted investments
1,250
1,250

1,250
12,659



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
540,834
459,499


6

 
YORKBRIDGE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Creditors: amounts falling due within one year

As restated
2024
2023
£
£

Bank loans
21,333
30,000

Trade creditors
27,921
8,886

Corporation tax
44,614
49,463

Other taxation and social security
40,760
38,460

Other creditors
11,247
1,072

Accruals
10,800
10,800

156,675
138,681


The bank loan of £17,333 (2023 - £26,000) included in creditors due within one year is guaranteed personally by J Isadore.

The bank loan has fixed and floating charge held over the assets of the company.

The bank loan of £4,000 (2023 - £4,000) included in creditors due within one year is a Coronavirus Bounce Back Loan, 100% guaranteed by the government.


9.


Creditors: amounts falling due after more than one year

As restated
2024
2023
£
£

Bank loans
2,667
24,000


The bank loan of £Nil (2023 - £17,333) included in creditors due after more than one year is guaranteed personally by J Isadore.

The bank loan has fixed and floating charge held over the assets of the company.

The bank loan of £2,667 (2023 - £6,667) included in creditors due after more than one year is a Coronavirus Bounce Back Loan, 100% guaranteed by the government.

7

 
YORKBRIDGE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


As restated
2024
2023
£
£

Amounts falling due within one year

Bank loans
21,333
30,000


21,333
30,000

Amounts falling due 1-2 years

Bank loans
2,667
21,333


2,667
21,333

Amounts falling due 2-5 years

Bank loans
-
2,667


-
2,667


24,000
54,000



11.


Deferred taxation




2024


£






At beginning of year
8,990


Charged to profit or loss
983



At end of year
8,007

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
8,145
9,118

Pension movement
(138)
(128)

(8,007)
(8,990)

8

 
YORKBRIDGE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100  Ordinary shares of £1.00 each
100
100



13.


Prior year adjustment

In the prior year, a sum of £40,000 withdrawn by the director was accounted for as loan repayments and this was reclassified to director's loan account in the comparative column.

The dividends of £25,750 which were omitted in the prior year accounts, have been restated in the comparative column. The retained earnings have been adjusted accordingly to reflect this correction.  


14.


Pension commitments

The company operates defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independantly administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £45,529 (2023 - £21,549). Included in other creditors at the year end is an amount payable of £1,071 (2023 - £1,071).


15.


Commitments under operating leases

At 30 September 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
43,000
43,000

Later than 1 year and not later than 5 years
172,000
172,000

Later than 5 years
419,250
462,250

634,250
677,250


16.


Related party transactions

No disclosures has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1AC.35, as the company is itself a wholly owned subsidiary of Lichfield Estates Limited.

As at the year end, the director was owed £461 (2023 - the director owed £1,928 to the company) by
the company. The loan is interest free and repayable on demand.

 
9