REGISTERED NUMBER: 00937948 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2023 TO 31 DECEMBER 2024

FOR

YOUNG & WOODS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R D Belcher

Mr R L North

Ms C B Douglas

REGISTERED OFFICE:

1-5 Fowler Road

Hainault Business Park

Hainault

Essex

IG6 3UT

REGISTERED NUMBER:

00937948 (England and Wales)

ACCOUNTANTS:

Raffingers Holdings Limited

Chartered Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Tangible assets

4

193,177

228,518

CURRENT ASSETS

Stocks

174,125

150,375

Debtors

816,544

453,113

Cash at bank and in hand

23,558

69,783

1,014,227

673,271

CREDITORS

Amounts falling due within one year

432,980

327,369

NET CURRENT ASSETS

581,247

345,902

TOTAL ASSETS LESS CURRENT LIABILITIES

774,424

574,420

CREDITORS

Amounts falling due after more than one year

(166,399

)

-

PROVISIONS FOR LIABILITIES

(3,821

)

(12,657

)

NET ASSETS

604,204

561,763

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

603,204

560,763

SHAREHOLDERS' FUNDS

604,204

561,763

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2025 and were signed on its behalf by:

Mr R D Belcher - Director

1.	STATUTORY INFORMATION

Young & Woods 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

5% on cost

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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 leasing commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 22 (2023 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2023

and 31 December 2024

1,362,053

DEPRECIATION

At 1 October 2023

1,133,535

Charge for period

35,341

At 31 December 2024

1,168,876

NET BOOK VALUE

At 31 December 2024

193,177

At 30 September 2023

228,518

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

Reclassification/transfer

688,500

At 31 December 2024

688,500

DEPRECIATION

Charge for period

23,102

Reclassification/transfer

572,990

At 31 December 2024

596,092

NET BOOK VALUE

At 31 December 2024

92,408

5.	LEASING AGREEMENTS

During the year, the company entered into a sale and leaseback arrangement in respect of plant and machinery included in fixed assets, which resulted in the asset being leased back to the company under a finance lease.

The company has not derecognised the asset, as the transaction does not transfer substantially all the risks and rewards of ownership. The legal form of the sale has therefore been overridden by its economic substance.

A financial liability of £217,599, equal to the proceeds received from the transaction, has been recognised and is being amortised over the term of the lease using the effective interest method.

The asset continues to be depreciated in accordance with the company's accounting policies.

6.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

217,599

-

Factoring debt

81,627

-

299,226

-

Hire purchase contracts and invoice factoring debt is secured over the assets to which they relate.

7.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £28,500 (2023: nil) by Cursey Technology Limited, a company connected by virtue of common control.