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Registration number: 02564003

Gordon Yates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Gordon Yates Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Gordon Yates Limited

Company Information

Directors

Mr R J R Grace

Mr M B B Grace

Company secretary

Mr R J R Grace

Registered office

5th Floor
167-169 Great Portland Street
London
W1W 5PF

Accountants

DG Accountancy Services Limited
Chartered Accountants17 Stonecot Hill
Sutton
Surrey
SM3 9HB

 

Gordon Yates Limited

(Registration number: 02564003)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,525

7,367

Investment property

5

1,580,000

1,778,000

Investments

6

1,000

1,000

 

1,586,525

1,786,367

Current assets

 

Debtors

7

134,594

425,007

Cash at bank and in hand

 

1,023,800

846,504

 

1,158,394

1,271,511

Creditors: Amounts falling due within one year

8

(832,505)

(999,691)

Net current assets

 

325,889

271,820

Total assets less current liabilities

 

1,912,414

2,058,187

Provisions for liabilities

-

(34,376)

Net assets

 

1,912,414

2,023,811

Capital and reserves

 

Called up share capital

9

60,000

60,000

Share premium reserve

10,000

10,000

Capital redemption reserve

90,000

90,000

Retained earnings

1,752,414

1,863,811

Shareholders' funds

 

1,912,414

2,023,811

 

Gordon Yates Limited

(Registration number: 02564003)
Balance Sheet as at 31 December 2024

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 February 2025 and signed on its behalf by:
 

.........................................
Mr R J R Grace
Company secretary and director

   
     
 

Gordon Yates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5th Floor
167-169 Great Portland Street
London
W1W 5PF

These financial statements were authorised for issue by the Board on 28 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

 

Gordon Yates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Investment property

Investment properties are initially measured at cost and subsequently measured at fair value where a reliable measure of fair value is available without undue cost or effort.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principles set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Hire Purchase and leasing commitments

Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Gordon Yates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

651,654

651,654

At 31 December 2024

651,654

651,654

Depreciation

At 1 January 2024

644,287

644,287

Charge for the year

1,842

1,842

At 31 December 2024

646,129

646,129

Carrying amount

At 31 December 2024

5,525

5,525

At 31 December 2023

7,367

7,367

5

Investment properties

2024
£

At 1 January

1,778,000

Revaluations

39,000

Disposals

(237,000)

At 31 December

1,580,000

6

Investments

2024
£

2023
£

Investments in subsidiaries

1,000

1,000

Subsidiaries

£

Cost or valuation

At 1 January 2024

1,000

Provision

Carrying amount

At 31 December 2024

1,000

At 31 December 2023

1,000

 

Gordon Yates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

-

150

Amounts owed by related parties

10

95,427

397,896

Prepayments

 

1,656

1,655

Other debtors

 

37,511

25,306

   

134,594

425,007

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

312,178

501,816

Accruals and deferred income

421,888

399,476

Other creditors

98,439

98,399

832,505

999,691

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

60,000

60,000

60,000

60,000

Share Premium of £1 each

10,000

10,000

10,000

10,000

Capital Redemption Reserve of £1 each

90,000

90,000

90,000

90,000

160,000

160,000

160,000

160,000

10

Related party transactions

At the balance sheet date, Gordon Yates Limited were owed by Gordon Yates Recruiting & Training Limited (a subsidiary company) £95,427 (2023: £397,896). During the year sales totalling £299,712 (2023: £449,218) were made to Gordon Yates Recruiting & Training Limited. During the year the company received dividends of Nil (2023: Nil) from the subsidiary company.

The company has a fixed and floating charge on all assets belonging to Gordon Yates Recruiting & Training Limited.