Registered number
12012698
Yes Property Services Ltd
Filleted Accounts
31 May 2024
Yes Property Services Ltd
Registered number: 12012698
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - -
Tangible assets 4 53,151 53,273
Investments 5 - -
53,151 53,273
Current assets
Stocks - -
Debtors 6 - -
Investments held as current assets 7 - -
Cash at bank and in hand 25 541
25 541
Creditors: amounts falling due within one year 8 (4,111) (4,074)
Net current liabilities (4,086) (3,533)
Total assets less current liabilities 49,065 49,740
Creditors: amounts falling due after more than one year 9 (34,984) (40,746)
Provisions for liabilities - -
Net assets 14,081 8,994
Capital and reserves
Called up share capital 2 2
Share premium - -
Revaluation reserve 10 - -
Profit and loss account 14,079 8,992
Shareholders' funds 14,081 8,994
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Yehuda Schleider
Director
Approved by the board on 24 March 2025
Yes Property Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 -
Additions -
Disposals -
At 31 May 2024 -
Amortisation
At 1 June 2023 -
Provided during the year -
On disposals -
At 31 May 2024 -
Net book value
At 31 May 2024 -
At 31 May 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 52,660 817 - 53,477
Additions - 110 - 110
Surplus on revaluation - - - -
Disposals - - - -
At 31 May 2024 52,660 927 - 53,587
Depreciation
At 1 June 2023 - 204 - 204
Charge for the year - 232 - 232
Surplus on revaluation - - - -
On disposals - - - -
At 31 May 2024 - 436 - 436
Net book value
At 31 May 2024 52,660 491 - 53,151
At 31 May 2023 52,660 613 - 53,273
5 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 June 2023 - - -
Additions - - -
Revaluation - - -
Disposals - - -
At 31 May 2024 - - -
6 Debtors 2024 2023
£ £
Trade debtors - -
Amounts owed by group undertakings and undertakings in which the company has a participating interest - -
Deferred tax asset - -
Other debtors - -
- -
7 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments - -
Unlisted investments - -
- -
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments - -
Unlisted investments - -
- -
8 Creditors: amounts falling due within one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans and overdrafts - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors 575 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Taxation and social security costs 2,768 1,765
Other creditors 768 2,309
4,111 4,074
9 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans 34,984 40,746
Obligations under finance lease and hire purchase contracts - -
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Other creditors - -
34,984 40,746
10 Revaluation reserve 2024 2023
£ £
At 1 June 2023 - -
Gain on revaluation of land and buildings - -
Deferred taxation arising on the revaluation of land and buildings - -
At 31 May 2024 - -
11 Other information
Yes Property Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
158 Cromwell Road, Salford, M6 6DE
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