Company registration number 05621117 (England and Wales)
Y'S GB LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
Y'S GB LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
Y'S GB LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
547,186
608,127
Current assets
Inventories
448,403
208,142
Trade and other receivables - deferred tax
-
0
64,981
Trade and other receivables - other
5
244,120
203,916
Cash and cash equivalents
1,648,739
1,006,439
2,341,262
1,483,478
Current liabilities
6
(1,072,611)
(841,442)
Net current assets
1,268,651
642,036
Total assets less current liabilities
1,815,837
1,250,163
Provisions for liabilities
(69,064)
-
0
Net assets
1,746,773
1,250,163
Equity
Called up share capital
1,000
1,000
Share premium account
454,608
454,608
Retained earnings
1,291,165
794,555
Total equity
1,746,773
1,250,163

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

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

The financial statements were approved and signed by the director and authorised for issue on 26 March 2025
Mr K Ohashi
Director
Company registration number 05621117 (England and Wales)
Y'S GB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

Y's GB Limited is a private company limited by shares incorporated in England and Wales. The registered office is 52-53 Conduit Street, London, W1S 2YX.

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
Revenue

Revenue represents amounts receivable for goods and services net of VAT and trade discounts.

1.3
Property, plant and equipment

Property, plant and equipment 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:

Land and buildings Leasehold
over the term of the lease, in line with group policy
Fixtures, fittings & equipment
Over 5 years
Computer equipment
33.3% on cost
1.4
Inventories

Inventories are measured at the lower of cost and net realisable value.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.  Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

1.7
Taxation

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

Y'S GB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
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.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

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.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Y'S GB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Inventories

Inventories are valued at the lower of cost and net realisable value. Net realisable value includes, where necessary, provisions for slow moving and obsolete stocks. Calculation of these provisions requires judgements to be made, which include forecast consumer demand, the promotional, competitive and economic environment and inventory loss trends.

3
Employees

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

2024
2023
Number
Number
Total
8
7
4
Property, plant and equipment
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2023
611,217
44,722
655,939
Additions
13,011
4,192
17,203
At 31 August 2024
624,228
48,914
673,142
Depreciation and impairment
At 1 September 2023
38,202
9,610
47,812
Depreciation charged in the year
67,695
10,449
78,144
At 31 August 2024
105,897
20,059
125,956
Carrying amount
At 31 August 2024
518,331
28,855
547,186
At 31 August 2023
573,015
35,112
608,127
Y'S GB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
5
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
29,621
29,058
Other receivables
214,499
174,858
244,120
203,916
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
64,981
Total debtors
244,120
268,897
6
Current liabilities
2024
2023
£
£
Trade payables
9,421
11,659
Amounts owed to group undertakings
373,937
207,765
Corporation tax
40,371
-
0
Other taxation and social security
103,637
77,616
Other payables
545,245
544,402
1,072,611
841,442
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
David Manning FCA
Statutory Auditor:
Summers Morgan
Date of audit report:
11 April 2025
Y'S GB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
3,704,268
4,117,128
9
Parent company

The immediate and ultimate parent company is Yohji Yamamoto Inc, and its registered office is T33 2-2-43 Higashi-Shinagawa, Shinagawa-ku, Tokyo, Japan.

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