Company registration number 10449321 (England and Wales)
YORBAG LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
YORBAG LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
5
8,911
9,438
Cash at bank and in hand
408
1,781
9,319
11,219
Creditors: amounts falling due within one year
6
(13,381)
(9,569)
Net current (liabilities)/assets
(4,062)
1,650
Creditors: amounts falling due after more than one year
7
(1,370)
(3,189)
Net liabilities
(5,432)
(1,539)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(5,532)
(1,639)
Total equity
(5,432)
(1,539)

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved and signed by the director and authorised for issue on 14 July 2025
Mr D Martin
Director
Company registration number 10449321 (England and Wales)
YORBAG LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024
31 October 2024
- 2 -
1
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.

2
Accounting policies
Company information

YORBAG LIMITED is a private company limited by shares incorporated in England and Wales. The registered office is 21, The Point, Rockingham Road, Market Harborough, Leicestershire, England, LE16 7NU.

2.1
Accounting convention

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

The accounts have been prepared on the going concern basis which is considered appropriate despite the company having negative reserves at the balance sheet date. The turnover has increased from last year, but unfortunately a small loss has been made. The major creditors are the director and a bounceback loan which the director is confident can be repaid. The director is committed to the company continuing to trade and has no intention of withdrawing his support for the foreseeable future.

2.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

2.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

YORBAG LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
2
Accounting policies
(Continued)
- 3 -
2.4
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 November 2023 and 31 October 2024
1,026
Depreciation and impairment
At 1 November 2023 and 31 October 2024
1,026
Carrying amount
At 31 October 2024
-
0
At 31 October 2023
-
0
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
63
89
Corporation tax recoverable
181
1,099
Other debtors
417
-
0
661
1,188
YORBAG LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
5
Debtors
(Continued)
- 4 -
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
8,250
8,250
Total debtors
8,911
9,438
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
1,932
1,876
Corporation tax
-
0
181
Other taxation and social security
-
0
286
Director's loan account
10,891
6,686
Accruals and deferred income
558
540
13,381
9,569
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,370
3,189
8
Operating lease commitments

The company rents the premises from which it operates. The property was occupied under a formal lease agreement until 8/1/25. At the balance sheet date the company had a future commitment of £3,300.

 

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