ACCOUNTS - Final Accounts preparation

Registered number: 06615685

Y R FREE LABS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Y R FREE LABS LIMITED

REGISTERED NUMBER: 06615685

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investments	4		2		2
			2		2
Current assets
Debtors: amounts falling due after more than one year	5	738,724		1,490,899
Debtors: amounts falling due within one year	5	138,996		-
		877,720		1,490,899
Creditors: amounts falling due within one year	6	-		(546,012)
Net current assets			877,720		944,887
Total assets less current liabilities			877,722		944,889

Net assets			877,722		944,889

Capital and reserves
Called up share capital	251	251
Share premium account	125,091	125,091
Profit and loss account	752,380	819,547
	877,722	944,889

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Y R FREE LABS LIMITED

REGISTERED NUMBER: 06615685

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

R Marsden

Director

Date: 8 October 2025

The notes on pages 3 to 5 form part of these financial statements.

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Y R FREE LABS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The Company is a private company limited by shares, which is incorporated in England and Wales (no.06615685). The address of the registered office is C/O Langtons, The Plaza, 100 Old Hall Street, Liverpool, United Kingdom, L3 9QJ
These financial statements present information about the Company as an individual undertaking. The principal activity of the Company is that of parent company to Y R Free Technologies Limited.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.3

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

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Y R FREE LABS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2024	2
	At 31 December 2024	2

5.	Debtors
		2024	2023
		£	£

Due after more than one year
Amounts owed by group undertakings	738,724	1,490,899
	738,724	1,490,899

					2024	2023
					£	£

Due within one year
Other debtors	138,996	-
	138,996	-

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Other loans	-	545,069
Other taxation and social security	-	943
	-	546,012

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Y R FREE LABS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Related party transactions

Included in other debtors is an amount of £738,724 (2023 - £1,490,899) owed from Y R Free Technologies Limited, a subsidiary company. The loan is repayable on demand and no interest has been charged.
Included in other debtors is an amount of £138,971 (2023 - £545,069 creditor) owed by Smart Works Systems Limited, the parent company. The loan is repayable on demand and no interest has been charged.

8.	Controlling party

The ultimate controlling party is Smart Works Systems Limited, a company registered in England and
Wales, company number 09477939 and holding 100% of the issued share capital of the Company.

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