Company registration number 14381924 (England and Wales)
YOOBIC REMOTE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
YOOBIC REMOTE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
YOOBIC REMOTE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
90,711
132,151
Cash at bank and in hand
62,378
117,871
153,089
250,022
Creditors: amounts falling due within one year
4
(113,211)
(228,656)
Net current assets
39,878
21,366
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
39,778
21,266
Total equity
39,878
21,366

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved and signed by the director and authorised for issue on 23 June 2025
Mr F  Haiat
Director
Company Registration No. 14381924
YOOBIC REMOTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Yoobic Remote Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, Smith Square No 1, 77 Fulham Palace Road, London, United Kingdom, W6 8JA.

1.1
Reporting period

The financial statements have been prepared for the 12-month period ended 31 December 2024.

 

The comparative figures presented in these financial statements relate to an extended reporting period of 15 months ended 31 December 2023. This was due to the company being incorporated on 28 September 2022 and changed its accounting reference to 31 December 2023 to bring it in line with the group's year end. The company commenced trading on 1 May 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable to companies 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.

1.3
Going concern

The director has prepared the financial statements on a going concern basis, as they believe the company will continue its operations for a period of 12 months from the approval of these financial statements. The company is wholly reliant on transfer pricing arrangements with its parent company who have agreed to financially support the company for a period of at least 12 months from the approval of these accounts. The director has a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the company's ability to continue as a going concern.true

1.4
Turnover

Turnover is comprised of recharges to other companies in the group for services provided relating to software development.

 

Turnover is recognised net of Value Added Tax, in line with the transfer pricing agreement.

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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities

1.6
Taxation

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

Current tax

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using tax rates that have been enacted or substantively enacted by the reporting date.

YOOBIC REMOTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax is recognised in respect of timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against future taxable profits or against the reversal of deferred tax liabilities.

 

Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

1.7
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.

1.8

Trade and other debtors

Trade and other debtors are measured at transaction price less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the prevailing market rate of interest. Loans are initially measured at fair value and are subsequently measured at amortised cost using the effective interest method less any impairment.

1.9

Trade and other creditors

Trade and other creditors are measured at their transaction price unless the arrangement constitutes a financing transaction in which case the transaction is measured at present value of future payments discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs. They are subsequently measured at amortised cost using the effective interest method.

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.

The director consider there to be no significant judgements or key sources of estimation uncertainty.

3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
90,711
132,151
YOOBIC REMOTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
34,748
66,939
Amounts owed to group undertakings
68,554
161,717
Other creditors
9,909
-
0
113,211
228,656
5
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 was unqualified.

Senior Statutory Auditor:
Alison Nayler BSc FCA
Statutory Auditor:
Azets Audit Services
6
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, not to disclose related party transactions with wholly owned subsidiaries within the group.

7
Parent company

The director regard Yoobic Limited as the ultimate parent company. The registered office of the ultimate parent company is 2nd Floor, Smith Square No1, 77 Fulham Palace Road, London, England, W6 8JA. The largest group of undertakings for which group accounts have been drawn up is that headed by Yoobic Limited. Copies of the group accounts may be obtained from Companies House.

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