REGISTERED NUMBER: 08872149 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Yard Space Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

D D Jones

H V Jones

L E Jones

Registered office:

Unit 5 Colomendy Industrial Estate

Denbigh

Denbighshire

LL16 5TA

Registered number:

08872149 (England and Wales)

Accountants:

Ellis & Co

Chartered Accountants

114-120 Northgate Street

Chester

CH1 2HT

Fixed assets

Tangible assets

4

78,828

51,024

Investment property

5

4,539,521

4,500,000

4,618,349

4,551,024

Current assets

Debtors

6

73,919

68,360

Cash at bank

23,050

37,205

96,969

105,565

Creditors

Amounts falling due within one year

7

796,998

763,641

Net current liabilities

(700,029

)

(658,076

)

Total assets less current liabilities

3,918,320

3,892,948

Creditors

Amounts falling due after more than one year

8

(1,034,540

)

(1,172,014

)

Provisions for liabilities

10

(469,425

)

(462,474

)

Net assets

2,414,355

2,258,460

Capital and reserves

Called up share capital

11

100

100

Other reserves

12

1,423,126

1,423,126

Retained earnings

12

991,129

835,234

Shareholders' funds

2,414,355

2,258,460

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

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

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

D D Jones - Director

1.	Statutory information

Yard Space 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.

2.	Accounting policies

Basis of preparing the financial statements

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from property rental is recognised on an accruals basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% reducing balance

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Investment property

Investment property is shown at its most recent valuation. Any aggregate surplus or deficit in fair value is recognised as profit or loss in the Income Statement.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and operating leases

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

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

3.	Employees and directors

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

4.	Tangible fixed assets

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

At 1 January 2024

-

59,736

59,736

Additions

40,560

-

40,560

At 31 December 2024

40,560

59,736

100,296

Depreciation

At 1 January 2024

-

8,712

8,712

Charge for year

-

12,756

12,756

At 31 December 2024

-

21,468

21,468

Net book value

At 31 December 2024

40,560

38,268

78,828

At 31 December 2023

-

51,024

51,024

5.	Investment property

Total

£

Fair value

At 1 January 2024

4,500,000

Additions

39,521

At 31 December 2024

4,539,521

Net book value

At 31 December 2024

4,539,521

At 31 December 2023

4,500,000

Investment property is shown at its most recent valuation.

6.

Debtors: amounts falling due within one year

31/12/24

31/12/23

£

£

Trade debtors

57,242

53,682

Other debtors

16,677

14,678

73,919

68,360

7.

Creditors: amounts falling due within one year

31/12/24

31/12/23

£

£

Bank loans and overdrafts

132,039

175,027

Hire purchase contracts

16,667

16,667

Trade creditors

136

31,487

Taxation and social security

40,217

27,050

Other creditors

607,939

513,410

796,998

763,641

8.

Creditors: amounts falling due after more than one year

31/12/24

31/12/23

£

£

Bank loans

1,026,207

1,147,014

Hire purchase contracts

8,333

25,000

1,034,540

1,172,014

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

516,270

634,013

9.	Secured debts

The following secured debts are included within creditors:

31/12/24

31/12/23

£

£

Bank loans

1,158,246

1,322,041

Hire purchase contracts

25,000

41,667

1,183,246

1,363,708

The bank loans are secured over the company's investment property. Hire purchase contracts are secured on the underlying asset.

10.	Provisions for liabilities

31/12/24

31/12/23

£

£

Deferred tax

Accelerated capital allowances

19,707

12,756

Investment property

revaluations

449,718

449,718

469,425

462,474

Deferred

tax

£

Balance at 1 January 2024

462,474

Charge to Statement of Income and Retained Earnings during year

6,951

Balance at 31 December 2024

469,425

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

60

A Ordinary

£1

60

60

40

B Ordinary

£1

40

40

100

100

12.

Reserves

Under FRS 102 surpluses on the revaluation of investment property are treated as fair value adjustments and are recognised in the statement of income. However under company law, these surpluses are not distributable. In these financial statements, the cumulative non-distributable revaluation surpluses have been included in other reserves. On disposal of an investment property, any revaluation surplus realised on disposal is transferred to distributable reserves.

13.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31/12/24

31/12/23

£

£

D D Jones

Balance outstanding at start of year

-

-

Amounts advanced

-

49,530

Amounts repaid

-

(49,530

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Advances to directors are interest free, unsecured and repayable on demand.