Y80 Group Limited 15032465 false 2023-07-27 2024-07-31 2024-07-31 The principal activity of the company is consultancy. Digita Accounts Production Advanced 6.30.9574.0 true true 15032465 2023-07-27 2024-07-31 15032465 2024-07-31 15032465 core:RetainedEarningsAccumulatedLosses 2024-07-31 15032465 core:ShareCapital 2024-07-31 15032465 core:CurrentFinancialInstruments 2024-07-31 15032465 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 15032465 core:AllAssociates 2024-07-31 15032465 bus:SmallEntities 2023-07-27 2024-07-31 15032465 bus:AuditExemptWithAccountantsReport 2023-07-27 2024-07-31 15032465 bus:FilletedAccounts 2023-07-27 2024-07-31 15032465 bus:SmallCompaniesRegimeForAccounts 2023-07-27 2024-07-31 15032465 bus:RegisteredOffice 2023-07-27 2024-07-31 15032465 bus:CompanySecretaryDirector1 2023-07-27 2024-07-31 15032465 bus:PrivateLimitedCompanyLtd 2023-07-27 2024-07-31 15032465 core:AllAssociates 2023-07-27 2024-07-31 15032465 countries:EnglandWales 2023-07-27 2024-07-31 iso4217:GBP xbrli:pure

Registration number: 15032465

Y80 Group Limited

Annual Report and Unaudited Filleted Financial Statements

for the Period from 27 July 2023 to 31 July 2024

 

Y80 Group Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Y80 Group Limited

Company Information

Director

S P Lane

Company secretary

S P Lane

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Y80 Group Limited

(Registration number: 15032465)
Balance Sheet as at 31 July 2024

Note

2024
£

Current assets

 

Debtors

4

12,782

Cash at bank and in hand

 

3,345

 

16,127

Creditors: Amounts falling due within one year

5

(83,516)

Net liabilities

 

(67,389)

Capital and reserves

 

Called up share capital

100

Retained earnings

(67,489)

Shareholders' deficit

 

(67,389)

For the financial period ending 31 July 2024 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 period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Profit and Loss Account.

Approved and authorised by the director on 25 April 2025
 

.........................................
S P Lane
Company secretary and director

 

Y80 Group Limited

Notes to the Unaudited Financial Statements for the Period from 27 July 2023 to 31 July 2024

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:
8 High Street
Heathfield
East Sussex
TN21 8LS
United Kingdom

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

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 at the transaction price, 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.

 

Y80 Group Limited

Notes to the Unaudited Financial Statements for the Period from 27 July 2023 to 31 July 2024

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 at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 3.

4

Debtors

Note

2024
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

6

11,284

Other debtors

 

100

Director loan account

 

1,398

 

12,782

 

Y80 Group Limited

Notes to the Unaudited Financial Statements for the Period from 27 July 2023 to 31 July 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

6

78,000

Taxation and social security

 

4,562

Accruals and deferred income

 

500

Other creditors

 

454

 

83,516

6

Related party transactions

Summary of transactions with associates

Panadent Direct Limited
Bracon Direct Limited

S P Lane is a shareholder and director of these companies.

 

Income and receivables from related parties

2024

Associates
£

Amounts receivable from related party

11,284

Expenditure with and payables to related parties

2024

Associates
£

Amounts payable to related party

78,000