Registered number
10130387
YTMC Limited
Filleted Accounts
31 August 2024
YTMC Limited
Report to the director on the preparation of the unaudited statutory accounts of YTMC Limited for the year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of YTMC Limited for the year ended 31 August 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
1st Cloud Accountants
1st Cloud Accountants
Chartered Certified Accountants
Analysis House
117-119 Sea Road
Sunderland
Tyne and Wear
SR6 9EQ
23 May 2025
YTMC Limited
Registered number: 10130387
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 45,331 48,313
Current assets
Stocks 410,080 -
Debtors 4 132,196 103,634
Cash at bank and in hand 1,141,046 786,395
1,683,322 890,029
Creditors: amounts falling due within one year 5 (1,000,289) (486,660)
Net current assets 683,033 403,369
Total assets less current liabilities 728,364 451,682
Provisions for liabilities (11,333) (12,079)
Net assets 717,031 439,603
Capital and reserves
Called up share capital 100 100
Profit and loss account 716,931 439,503
Shareholder's funds 717,031 439,603
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr D Morgan
Director
Approved by the board on 27 May 2025
YTMC 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 rendering of services. 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 33% straight line
Plant and machinery 25% straight line
Motor Vehicles 25% reducing balance
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 3 3
3 Tangible fixed assets
Computer Equipment Office Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 28,931 22,254 90,974 142,159
Additions 8,764 4,005 - 12,769
At 31 August 2024 37,695 26,259 90,974 154,928
Depreciation
At 1 September 2023 25,770 15,481 52,595 93,846
Charge for the year 3,167 2,989 9,595 15,751
At 31 August 2024 28,937 18,470 62,190 109,597
Net book value
At 31 August 2024 8,758 7,789 28,784 45,331
At 31 August 2023 3,161 6,773 38,379 48,313
4 Debtors 2024 2023
£ £
Trade debtors 105,003 48,086
Other debtors 27,193 55,548
132,196 103,634
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 149,255 287,604
Taxation and social security costs 585,454 197,142
Other creditors 265,580 1,914
1,000,289 486,660
6 Other information
YTMC Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Quadrus Centre
Woodstock Way
Boldon
Tyne & Wear
NE35 9PF
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