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COMPANY REGISTRATION NUMBER: 13242614
YAFTA International Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
YAFTA International Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
6,959
8,109
Current assets
Debtors
6
8,946
Cash at bank and in hand
18,238
14,222
--------
--------
18,238
23,168
Creditors: amounts falling due within one year
7
38,996
55,187
--------
--------
Net current liabilities
20,758
32,019
--------
--------
Total assets less current liabilities
( 13,799)
( 23,910)
--------
--------
Net liabilities
( 13,799)
( 23,910)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 13,899)
( 24,010)
--------
--------
Shareholders deficit
( 13,799)
( 23,910)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
YAFTA International Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 4 August 2025 , and are signed on behalf of the board by:
Miss C E Armitage
Director
Company registration number: 13242614
YAFTA International Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is W9 Greenhouse, Beestn Road, Leeds, LS11 6AD.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The balance sheet as at 31 March 2024 shows that liabilities exceed assets by £16,757. Liabilities include loans from the directors totalling £5,983. The company relies on the continued support of the directors to continue normal trading activities. Such support has been confirmed and will be made available for the foreseeable future and increased where necessary. The accounts are therefore prepared on a going concern basis. The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the director has considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the director has prepared these financial statements on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Current tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property improvements
-
25% straight line
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Short leasehold property
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 April 2023
6,061
172
3,140
9,373
Additions
149
1,173
1,322
-------
----
-------
--------
At 31 March 2024
6,061
321
4,313
10,695
-------
----
-------
--------
Depreciation
At 1 April 2023
758
43
463
1,264
Charge for the year
1,515
53
904
2,472
-------
----
-------
--------
At 31 March 2024
2,273
96
1,367
3,736
-------
----
-------
--------
Carrying amount
At 31 March 2024
3,788
225
2,946
6,959
-------
----
-------
--------
At 31 March 2023
5,303
129
2,677
8,109
-------
----
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
8,730
Other debtors
216
----
-------
8,946
----
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
216
Other creditors
38,996
54,971
--------
--------
38,996
55,187
--------
--------
8. Related party transactions
During the year the director made available loans to the company . The loans are interest free and repayable on demand. At the year end date the balance due to the directors totalled £ 5,899 (2023: £997).