Yards Apart Limited - Filleted accounts

Registered number

07229623

Yards Apart Limited

Filleted Accounts

31 March 2025

Yards Apart Limited
Registered number:		07229623
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		315,211			265,242

Current assets
Debtors	4	127,663			91,771
Cash at bank and in hand		1,923			1,346
		129,586			93,117

Creditors: amounts falling due within one year	5	(93,878)			(80,966)

Net current assets			35,708			12,151

Total assets less current liabilities			350,919			277,393

Creditors: amounts falling due after more than one year	6		(211,217)			(83,117)

Provisions for liabilities			(45,823)			-


Net assets			93,879			194,276

Capital and reserves
Called up share capital			2			2
Revaluation reserve	7		82,800			172,800
Profit and loss account			11,077			21,474

Shareholders' funds			93,879			194,276

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Sean Watson
Director
Approved by the board on 6 November 2025

Yards Apart Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			4% straight line
	Motor vehicles			25% reducting balance
	Plant and machinery			20% reducing balance
	Fixtures and fittings			10% reducing balance
	Computer equipment			33% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					3		3


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	156,203		119,730		98,300		374,233
	Additions	-		65,898		92,935		158,833
	Disposals	-		(63,371)		(36,000)		(99,371)
	At 31 March 2025	156,203		122,257		155,235		433,695

	Depreciation
	At 1 April 2024	18,036		57,567		33,388		108,991
	Charge for the year	6,248		18,833		39,462		64,543
	On disposals	-		(30,994)		(24,056)		(55,050)
	At 31 March 2025	24,284		45,406		48,794		118,484

	Net book value
	At 31 March 2025	131,919		76,851		106,441		315,211
	At 31 March 2024	138,167		62,163		64,912		265,242

	Land and buildings were valued on an open market basis on 10 June 2022 by independent Chartered Surveyors. The chartered surveyors used were: PPH Commercial. As at 31 March 2025 the directors do not consider the valuation to be materially different.

4	Debtors					2025		2024
£							£

	Trade debtors					44,869		33,914
	Prepayments and accrued income					-		222
	Other debtors					73,185		50,270
	Other taxes and social security					9,609		7,365
						127,663		91,771


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					12,221		9,926
	Obligations under finance lease and hire purchase contracts					49,410		21,135
	Trade creditors					29,492		18,967
	Taxation and social security costs					1,255		16,817
	VAT					-		13,666
	Accruals and deferred income					1,500		450
	Directors loan accounts					-		5
						93,878		80,966


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					89,997		11,580
	Obligations under finance lease and hire purchase contracts					121,220		71,537
						211,217		83,117


7	Revaluation reserve					2025		2024
£							£

	At 1 April 2024					172,800		172,800
	Loss on revaluation of land and buildings					(90,000)		-

	At 31 March 2025					82,800		172,800


8	Other information

	Yards Apart Limited is a private company limited by shares and incorporated in England. Its registered office is:
	20b Hebden Road
	Scunthorpe
	North Lincolnshire
	DN15 8DT