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COMPANY REGISTRATION NUMBER: 15079615
Youtility Holdco Limited
Filleted Unaudited Financial Statements
30 September 2024
Youtility Holdco Limited
Financial Statements
Period from 17 August 2023 to 30 September 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Youtility Holdco Limited
Balance Sheet
30 September 2024
30 Sep 24
Note
£
£
Fixed assets
Investments
4
1,948,960
Current assets
Debtors
5
579,751
Cash at bank and in hand
125
---------
579,876
Creditors: amounts falling due within one year
6
2,400
---------
Net current assets
577,476
------------
Total assets less current liabilities
2,526,436
Creditors: amounts falling due after more than one year
7
692,400
------------
Net assets
1,834,036
------------
Youtility Holdco Limited
Balance Sheet (continued)
30 September 2024
30 Sep 24
Note
£
£
Capital and reserves
Called up share capital
9
130
Share premium account
10
1,688,251
Capital contribution
10
203,744
Convertible loan equity reserve
10
44,531
Profit and loss account
10
( 102,620)
------------
Shareholders funds
1,834,036
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 May 2025 , and are signed on behalf of the board by:
T R Boyd
Director
Company registration number: 15079615
Youtility Holdco Limited
Notes to the Financial Statements
Period from 17 August 2023 to 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of non-market rate convertible loans and in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
All significant judgements applied in preparing the financial statements are disclosed in the accounting policies. No material estimates have been applied.
Share-based payments
Equity-settled share-based payment transactions are measured at fair value of the assets acquired or if this cannot be reliably measured, at fair value of the equity instruments issued at the date of the transaction. The fair value is estimated using an appropriate valuation methodology and the judgement of the directors. Where a share-based payment transaction is settled by another group entity, the corresponding increase in equity is taken to a capital contribution equity reserve.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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 using the effective interest rate. The debt components of convertible loans are initially recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. The remaining balance of the transaction price is recognised in equity
4. Investments
Shares in group undertakings
£
Cost
At 17 August 2023
Additions
1,948,960
------------
At 30 September 2024
1,948,960
------------
Impairment
At 17 August 2023 and 30 September 2024
------------
Carrying amount
At 30 September 2024
1,948,960
------------
5. Debtors
30 Sep 24
£
Amounts owed by group undertakings
579,751
---------
6. Creditors: amounts falling due within one year
30 Sep 24
£
Other creditors
2,400
-------
7. Creditors: amounts falling due after more than one year
30 Sep 24
£
Other creditors
692,400
---------
8. Financial instruments
The carrying amount for each category of financial instrument is as follows:
30 Sep 24
£
Financial liabilities measured at amortised cost
Debt component of convertible loans measured at amortised cost
661,967
---------
9. Called up share capital
Issued, called up and fully paid
30 Sep 24
No.
£
A ordinary shares of £ 0.000001 each
125,597,789
126
B ordinary shares of £ 0.000001 each
4,560,344
5
--------------
----
130,158,133
130
--------------
----
10. Reserves
Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Capital contribution - This reserve records the amount of share based payments satisfied by the issue of equity instruments by another group entity. Convertible loan equity reserve - This reserve records the fair value of the equity element of convertible loans.