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Registered number: 10417802
YOUSING LTD
Unaudited Financial Statements
For The Year Ended 31 October 2024
J M Tranter & Co
1 Dennis Buildings
87a King William Street
Amblecote, Stourbridge
West Midlands
DY8 4HD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10417802
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,140 9,208
Tangible Assets 5 2,912 3,640
9,052 12,848
CURRENT ASSETS
Debtors 6 5,463 5,220
Cash at bank and in hand 35,408 27,456
40,871 32,676
Creditors: Amounts Falling Due Within One Year 7 (18,054 ) (9,120 )
NET CURRENT ASSETS (LIABILITIES) 22,817 23,556
TOTAL ASSETS LESS CURRENT LIABILITIES 31,869 36,404
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (552 ) (691 )
NET ASSETS 31,317 35,713
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 31,217 35,613
SHAREHOLDERS' FUNDS 31,317 35,713
Page 1
Page 2
For the year ending 31 October 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 directors acknowledge their 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 S M Weston
Director
Mr B L Evans
Director
Mr D W Homer
Director
20/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Yousing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10417802 . The registered office is 1 Dennis Buildings, 87a King William Street, Amblecote, Stourbridge, West Midlands, DY8 4HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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. This is usually at the point that the customer has signed for the delivery of the goods.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are domain names and website costs and production tracks. They are amortised to profit and loss account over its estimated economic life of 10 years.
2.5. 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
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposed and thei treatment for tax purposes.
Tax deferred or accelerated is accounted for in respect of all material timing differences.
Current and deferred tax are not discounted. Both current and deferred tax are recognised at the ammount of tax payable using the tax rates and laws that have been anacted or subsequently enacted by the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 30,684
As at 31 October 2024 30,684
Amortisation
As at 1 November 2023 21,476
Provided during the period 3,068
As at 31 October 2024 24,544
Net Book Value
As at 31 October 2024 6,140
As at 1 November 2023 9,208
Intangible assets comprise Goodwill, Domain Names and Website and Production Tracks.
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2023 15,528
As at 31 October 2024 15,528
Depreciation
As at 1 November 2023 11,888
Provided during the period 728
As at 31 October 2024 12,616
Net Book Value
As at 31 October 2024 2,912
As at 1 November 2023 3,640
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,463 5,220
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,360 1,594
Corporation tax 6,560 5,850
Directors' loan accounts 9,134 1,676
18,054 9,120
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Page 5
8. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
2024 2023
£ £
Other timing differences 552 691
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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