Registered number
03623613
Yarm Computers Limited
Filleted Accounts
31 August 2024
Yarm Computers Limited
Registered number: 03623613
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 170,550 155,261
Current assets
Stocks 121,000 137,000
Debtors 5 216,146 262,440
Cash at bank and in hand 36,955 9,964
374,101 409,404
Creditors: amounts falling due within one year 6 (430,339) (454,247)
Net current liabilities (56,238) (44,843)
Total assets less current liabilities 114,312 110,418
Creditors: amounts falling due after more than one year 7 (9,167) (19,167)
Net assets 105,145 91,251
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 95,145 81,251
Shareholders' funds 105,145 91,251
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Paul Alsop
Director
Approved by the board on 21 May 2025
Yarm Computers Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment between 4 and 5 years
Fixtures, fittings, tools and equipment between 5 and 6 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 16
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 379,547
At 31 August 2024 379,547
Amortisation
At 1 September 2023 379,547
At 31 August 2024 379,547
Net book value
At 31 August 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 480,879 - 480,879
Additions 64,693 2,917 67,610
Disposals - (1,194) (1,194)
At 31 August 2024 545,572 1,723 547,295
Depreciation
At 1 September 2023 325,618 - 325,618
Charge for the year 51,127 - 51,127
At 31 August 2024 376,745 - 376,745
Net book value
At 31 August 2024 168,827 1,723 170,550
At 31 August 2023 155,261 - 155,261
5 Debtors 2024 2023
£ £
Trade debtors 156,421 207,329
Other debtors 59,725 55,111
216,146 262,440
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 22,339
Trade creditors 285,431 198,457
Taxation and social security costs 175,227 244,584
Other creditors (40,319) (11,133)
430,339 454,247
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,167 19,167
8 Other information
Yarm Computers Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Gatehouse 84
Billingham Road
Stockton-On-Tees
TS20 2SA
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