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REGISTERED NUMBER: 03521053 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Yardcrest Limited

Yardcrest Limited (Registered number: 03521053)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Yardcrest Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr R M Floriani





REGISTERED OFFICE: 1st Floor
314 Regents Park Road
Finchley
London
N3 2LT





REGISTERED NUMBER: 03521053 (England and Wales)





ACCOUNTANTS: Wolfson Associates Limited
1st Floor
314 Regents Park Road
Finchley
London
N3 2LT

Yardcrest Limited (Registered number: 03521053)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,426,747 1,427,071

CURRENT ASSETS
Prepayments and accrued income 3,708 3,425
Cash at bank 39,332 46,140
43,040 49,565
CREDITORS
Amounts falling due within one year 5 42,083 48,263
NET CURRENT ASSETS 957 1,302
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,427,704

1,428,373

CREDITORS
Amounts falling due after more than one
year

6

(202,036

)

(218,290

)

PROVISIONS FOR LIABILITIES 8 (214,137 ) (214,218 )

ACCRUALS AND DEFERRED INCOME (12,346 ) (12,123 )
NET ASSETS 999,185 983,742

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 957,500 957,500
Retained earnings 40,685 25,242
SHAREHOLDERS' FUNDS 999,185 983,742

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Yardcrest Limited (Registered number: 03521053)

Balance Sheet - continued
31 July 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 May 2025 and were signed by:





Mr R M Floriani - Director


Yardcrest Limited (Registered number: 03521053)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Yardcrest Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Going concern
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - fully written off
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Yardcrest Limited (Registered number: 03521053)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 1,425,000 9,435 26,073 1,460,508
DEPRECIATION
At 1 August 2023 - 9,164 24,273 33,437
Charge for year - 54 270 324
At 31 July 2024 - 9,218 24,543 33,761
NET BOOK VALUE
At 31 July 2024 1,425,000 217 1,530 1,426,747
At 31 July 2023 1,425,000 271 1,800 1,427,071

Included in land and buildings is freehold land valuation of £650,000 [2022 : £625,000], which is not depreciated.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 27,913 20,668
Trade creditors 2,022 4,286
Tax 3,725 4,334
Social security and other taxes 1,294 46
Other creditors 2,500 2,500
Directors' current accounts 4,629 16,429
42,083 48,263

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans - 2-5 years 202,036 218,290

7. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 229,949 238,958

8. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 214,137 214,218

Yardcrest Limited (Registered number: 03521053)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 August 2023 214,218
Credit to Income Statement during year (81 )
Balance at 31 July 2024 214,137

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 1 August 2023 the directors' loan account had a credit balance of £16,429. During the year the directors withdrew £11,800 from the company. As a result, at the year end the company owed £4,629 to the directors.

10. ULTIMATE CONTROLLING PARTY

The controlling party of the company is the director, Mr R Floriani, by virtue of his 100% holding of the issued share capital.