Company registration number 04972466 (England and Wales)
ANDREW YELLAND LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ANDREW YELLAND LIMITED
COMPANY INFORMATION
Director
Mr A Yelland
Secretary
Mrs D Yelland
Company number
04972466
Registered office
2 Barnfield Crescent
Streets Bush Limited
Exeter
Devon
EX1 1QT
Accountants
Streets Bush Limited
2 Barnfield Crescent
Exeter
EX1 1QT
ANDREW YELLAND LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ANDREW YELLAND LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,711
64,108
Investment properties
4
1,140,000
1,140,000
1,150,711
1,204,108
Current assets
Debtors
5
89,432
40,463
Investments
6
197,945
157,273
Cash at bank and in hand
46,673
43,672
334,050
241,408
Creditors: amounts falling due within one year
7
(185,829)
(146,307)
Net current assets
148,221
95,101
Total assets less current liabilities
1,298,932
1,299,209
Provisions for liabilities
(1,779)
(53,358)
Net assets
1,297,153
1,245,851
Capital and reserves
Called up share capital
202
202
Retained earnings
1,296,951
1,245,649
Total equity
1,297,153
1,245,851
ANDREW YELLAND LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 15 May 2025
Mr A  Yelland
Director
Company Registration No. 04972466
ANDREW YELLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Andrew Yelland Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Barnfield Crescent, Streets Bush Limited, Exeter, Devon, EX1 1QT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% Reducing Balance
Computers
33% Straight Line
Motor vehicles
25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

ANDREW YELLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ANDREW YELLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
3
ANDREW YELLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
119,216
Additions
4,197
Disposals
(78,355)
At 31 December 2024
45,058
Depreciation and impairment
At 1 January 2024
55,108
Depreciation charged in the year
4,036
Eliminated in respect of disposals
(24,797)
At 31 December 2024
34,347
Carrying amount
At 31 December 2024
10,711
At 31 December 2023
64,108
4
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
1,140,000

Investment property has been revalued on an open market basis by the directors as at 31 December 2024. If the property hadn't been revalued, it would have been held at its historic cost of £829,826.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
89,432
40,463
ANDREW YELLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
6
Current asset investments
2024
2023
£
£
Other investments
197,945
157,273
7
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
5,923
6,186
Other creditors
179,906
140,121
185,829
146,307
8
Related party transactions

Included in other creditors are amounts owed to close family members of the director of £82,153. Interest has been charged on overdrawn balances during the year at the official rate per HMRC. These loans carry no fixed terms of repayment.

9
Prior period adjustment
Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 Dec 2023
£
£
£
Fixed assets
Investment properties
1,083,000
57,000
1,140,000
Creditors due within one year
Taxation
(6,260)
74
(6,186)
Other creditors
(161,687)
21,566
(140,121)
Net assets
1,167,211
78,640
1,245,851
Capital and reserves
Retained earnings
1,167,009
78,640
1,245,649
ANDREW YELLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Prior period adjustment
(Continued)
- 8 -
Changes to the income statement
As previously reported
Adjustment
As restated
Period ended 31 December 2023
£
£
£
Other operating expenses
(46,000)
57,000
11,000
Taxation
(7,824)
74
(7,750)
(Loss)/profit after taxation
(53,876)
57,074
3,198
Dividends
(81,770)
21,566
(60,204)
Net movement in reserves for the financial period
(135,646)
78,640
(57,006)
Notes to reconciliation

The accounts for the year ended 31 December 2023 have been restated to correct an overstated creditor balance of £21,566 in the accounts due to a previously overstated dividend, which has no tax effect. Depreciation of £57,000 was identified and has been removed regarding an investment property. A small corporation tax trading loss was also not claimed against interest received; this adjustment has resulted in a tax refund of £74. The total restatement has resulted in an increase in distributable reserves as at 31 December 2023 of £78,640.

2024-12-312024-01-01falsefalsefalse15 May 2025CCH SoftwareCCH Accounts Production 2025.100The principal activity in the year was that of a specialist medical practice.
Mr A YellandMrs D Yelland
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