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Registration number: 3642203

Yatsden Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Yatsden Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Yatsden Limited

(Registration number: 3642203)
Statement of Financial Position as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

1,749

2,139

Investment property

5

3,647,619

3,647,619

 

3,649,368

3,649,758

Current assets

 

Debtors

6

4,132

3,538

Cash at bank and in hand

 

44,220

37,635

 

48,352

41,173

Creditors: Amounts falling due within one year

7

(63,293)

(59,894)

Net current liabilities

 

(14,941)

(18,721)

Total assets less current liabilities

 

3,634,427

3,631,037

Creditors: Amounts falling due after more than one year

7

(2,561,587)

(2,581,870)

Net assets

 

1,072,840

1,049,167

Capital and reserves

 

Called up share capital

1

1

Fair value reserve

1,402,749

1,402,749

Retained earnings

(329,910)

(353,583)

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 29 April 2025
 

.........................................
Mrs D J Miller
Director

   
     
 

Yatsden Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 169, Lomeshaye Business Village
Turner Road
Nelson
Lancashire
BB9 7DR

These financial statements were authorised for issue by the director on 29 April 2025.

2

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

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

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
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Yatsden Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2024

58,424

58,424

At 28 February 2025

58,424

58,424

Depreciation

At 1 March 2024

56,285

56,285

Charge for the year

390

390

At 28 February 2025

56,675

56,675

Carrying amount

At 28 February 2025

1,749

1,749

At 29 February 2024

2,139

2,139

5

Investment properties

2025
£

At 1 March

3,647,619

At 28 February

3,647,619


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

6

Debtors

2025
£

2024
£

Trade debtors

862

715

Prepayments

3,270

2,823

4,132

3,538

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

5,644

3,174

Accruals and deferred income

38,449

38,720

Other creditors

19,200

18,000

63,293

59,894

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

2,561,587

2,581,870

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Other borrowings

2,561,587

2,581,870

9

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.