Company Registration No. 02214834 (England and Wales)
YATES & CO. LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2025
30 June 2025
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
YATES & CO. LIMITED
COMPANY INFORMATION
Directors
C J Yates
K J Yates
B J Yates
M E Evans
Secretary
C Atkinson
Company number
02214834
Registered office
Unit 10b
Salthill Industrial Estate
Lincoln Way
Clitheroe
Lancashire
BB7 1QD
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
YATES & CO. LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
YATES & CO. LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
494,070
337,613
Current assets
Stocks
1,142,339
1,288,404
Debtors
4
2,490,808
2,600,857
Cash at bank and in hand
17,792
174,826
3,650,939
4,064,087
Creditors: amounts falling due within one year
5
(2,662,591)
(3,014,045)
Net current assets
988,348
1,050,042
Total assets less current liabilities
1,482,418
1,387,655
Creditors: amounts falling due after more than one year
6
(181,520)
(113,527)
Provisions for liabilities
(86,390)
(60,468)
Net assets
1,214,508
1,213,660
Capital and reserves
Called up share capital
550
550
Capital redemption reserve
450
450
Profit and loss reserves
1,213,508
1,212,660
Total equity
1,214,508
1,213,660

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 19 March 2026 and are signed on its behalf by:
B J Yates
Director
Company Registration No. 02214834
YATES & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -
1
Accounting policies
Company information

Yates & Co. Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 10b, Salthill Industrial Estate, Lincoln Way, Clitheroe, Lancashire, BB7 1QD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
33% straight line
Plant and equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

YATES & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 3 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at cost.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at cost.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

YATES & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 4 -
1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
15
14
YATES & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 5 -
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2024
103,324
87,149
60,187
695,076
945,736
Additions
-
0
-
0
401
328,688
329,089
Disposals
-
0
-
0
-
0
(145,873)
(145,873)
At 30 June 2025
103,324
87,149
60,588
877,891
1,128,952
Depreciation and impairment
At 1 July 2024
52,225
77,562
51,241
427,095
608,123
Depreciation charged in the year
29,095
1,438
1,372
80,593
112,498
Eliminated in respect of disposals
-
0
-
0
-
0
(85,739)
(85,739)
At 30 June 2025
81,320
79,000
52,613
421,949
634,882
Carrying amount
At 30 June 2025
22,004
8,149
7,975
455,942
494,070
At 30 June 2024
51,099
9,587
8,946
267,981
337,613
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,101,774
1,360,027
Corporation tax recoverable
197,497
189,789
Amounts owed by group undertakings
423,256
433,750
Other debtors
759,251
602,501
Prepayments and accrued income
9,030
14,790
2,490,808
2,600,857
YATES & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loan
60,000
60,000
Obligations under finance leases
65,289
73,459
Trade creditors
1,041,821
1,149,287
Corporation tax
101,497
226,622
Other taxation and social security
227,834
263,496
Other creditors
1,051,109
1,154,786
Accruals and deferred income
115,041
86,395
2,662,591
3,014,045

The bank loan is secured by the UK Government under the CBILS loan scheme.

Obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.

Other creditors includes a balance of £1,013,278 (2024 - £933,676) relating to invoice discounting finance which is secured on the company's trade debtors.

6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loan
-
0
60,000
Obligations under finance leases
181,520
41,754
Other creditors
-
0
11,773
181,520
113,527

The bank loan is secured by the UK Government under the CBILS loan scheme.

Obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.

7
Directors' transactions

During the year, the company advanced a mounts of £260,249 (202 4 - £238,129) to a director. Repayments of £1 36,000 (202 4 - £162,000) were made against this. As at the year end, the director owed a balance of £507,246 (2024 - £507,246). The maximum outstanding during the year was £714,746.

The company also advanced amounts of £21,061 (202 4 - £5,122) to another director. Repayments of £4,790 (202 4 - £11,499) were made against this. As at the year end, the director owed a balance of £81,679 (202 4 - £65,408). The maximum outstanding during the year was £86,469.

In addition, the company advanced amounts of £11,017 (202 4 - £11,182) to another director. Repayments of £4,448 (202 4 - £4,142) were made against this. As at the year end, the director owed a balance of £10,484 (202 4 - £3,916 owed to the director). The maximum outstanding during the year was £14,933.

All loans are interest free and repayable on demand.

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