Registration number:
Yatsden Limited
for the Year Ended 28 February 2025
Yatsden Limited
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Yatsden Limited
(Registration number: 3642203)
Statement of Financial Position as at 28 February 2025
Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Fair value reserve |
1,402,749 |
1,402,749 |
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Retained earnings |
(329,910) |
(353,583) |
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Shareholders' funds |
1,072,840 |
1,049,167 |
For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Yatsden Limited
(Registration number: 3642203)
Statement of Financial Position as at 28 February 2025
Approved and authorised by the
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Yatsden Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Judgements
The director has used her judgement in estimating the useful lives of assets. This has led to the depreciation methods adopted in the Financial Statements that are summarised below. |
Key sources of estimation uncertainty
The director is of the opinion that there are no key items of estimation uncertainty within these Financial Statements..
Revenue recognition
Turnover shown in the income statement represents rental income due for the year.
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.
Yatsden Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off te cost or valuation, less any estimated residual value, over their estimated useful economic lives, as follows:
Asset class |
Depreciation method and rate |
Furniture and fittings |
15% reducing balance |
Office and equipment |
33% reducing balance |
Investment property
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.
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.
Yatsden Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Impairment
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Yatsden Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 March 2024 |
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At 28 February 2025 |
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Depreciation |
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At 1 March 2024 |
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Charge for the year |
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At 28 February 2025 |
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Carrying amount |
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At 28 February 2025 |
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At 29 February 2024 |
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Investment properties |
2025 |
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At 1 March |
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At 28 February |
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The investment properties situated in Oxford were revalued as at 28 February 2022 by Chamberlain Evans Estate Agents at open market value. The historical cost of these properties included at valuation is £1,949,014. The investment properties situated in Leeds were revalued as at 28 February 2022 by Linley & Simpson Estate Agents at open market value. The historical cost of the Leeds properties included at valuation is £260,256.
Yatsden Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
Debtors |
2025 |
2024 |
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Trade debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
2025 |
2024 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
2025 |
2024 |
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Other borrowings |
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Related party transactions |
At 28th February 2025 the company owed Mrs D Miller £2,580,787. The loan carries interest at 1.40% p.a. on the balance of the loan repayable after more than 12 months, is unsecured and is being repaid at the rate of £1,600 per month. The charge to the profit and loss account in relation to this interest for the year ended 28 February 2025 was £35,862 (2024: £36,146) and the balance owing at 28th February 2025 of £35,862 is included within accruals at the balance sheet date.