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Company registration number: 10940867
YORZE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
For the Year Ended 31 December 2024
Coveney Nicholls Limited
Chartered Accountants
The Old Wheel House
31/37 Church Street
Reigate
Surrey
UK
RH2 0AD
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YORZE LIMITED
Registered number:10940867
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STATEMENT OF FINANCIAL POSITION
As at 31 December 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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YORZE LIMITED
Registered number:10940867
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 31 December 2024
For the year ended 31 December 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.
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 comprehensive income 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 on 29 December 2025.
The notes on pages 3 to 8 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2024
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is the Old Wheel House, 31/37 Church Street, Reigate, Surrey, RH2 0AD, United Kingdom.
2.Accounting policies
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Basis of preparation of financial statements
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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.
As with many early-stage entities the company's ability to continue to develop its products and services and to bring them to market is dependent upon the business being able to raise additional funds to support its operations as required. The Directors are confident that they will be able to secure sufficient additional funding to meet the company's requirements during the next year and to enable it to fulfil its plans.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2024
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
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NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2024
2.Accounting policies (continued)
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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Cash and cash equivalents
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NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2024
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Shareholder loans
The 'other loans' are non-interest bearing and having been rolled over by consent of the shareholders, are considered due for repayment when new funding is obtained by the company.
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NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2024
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Related party transactions
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The company was not under the control of any one party or individual throughout the period ended 31 December 2024 and prior period.
For the period ended 31 December 2024, the company had the following balances outstanding:
- Asel Group Limited, where A P Jones is a director, had a balance of £54,819 (2023 - £29,517) outstanding and included in current liabilities. A P Jones is a shareholder in Yorze Ltd.
During the period ended 31 December 2024, the company was charged the following in respect of consultancy and marketing services:
- Andrew Knox, a shareholder in Yorze Ltd, charged £nil (2023 - £nil). At the period end, a balance of £2,556 (2023 - £2,751) was outstanding and included in current liabilities.
During the period various shareholders advanced short-term loans to the company totalling £800 (2023 - £2,600). The loans are non-interest bearing and have the repayment terms detailed in note 9 of the financial statements. The balance outstanding at the year-end was £129,095 (2023 - £128,295).
The company had received various advances from shareholders on account for future share issues. £146,836 (2023 - £144,769) is included in other creditors at the year end in respect of these amounts. The creditor is held in USD, and hence revalued at the end of each year for foreign exchange rates.
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