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Company Registration No. 05901256 (England and Wales)
Yard Associates Limited Unaudited accounts for the year ended 31 December 2025
Yard Associates Limited Statement of financial position as at 31 December 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
3,101
4,135
Current assets
Inventories
44,557
45,777
Debtors
6
229,691
132,158
Cash at bank and in hand
16,013
27,625
290,261
205,560
Creditors: amounts falling due within one year
7
(271,788)
(570,597)
Net current assets/(liabilities)
18,473
(365,037)
Net assets/(liabilities)
21,574
(360,902)
Capital and reserves
Called up share capital
8
100,091
100,091
Share premium
69,298
69,298
Capital redemption reserve
32
32
Profit and loss account
(147,847)
(530,323)
Shareholders' funds
21,574
(360,902)
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2026 and were signed on its behalf by
Stjepan Pavlek Posavec Director Company Registration No. 05901256
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Yard Associates Limited Notes to the Accounts for the year ended 31 December 2025
1
Statutory information
Yard Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 05901256. The registered office is The Maltings, East Tyndall Street, Cardiff, CF24 5EA, Wales.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "TheFinancialReporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The functional and presentational currency of the company is £ and amounts are rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis. The directors having assessed a period of at least 12 months from the date of approval of the financial statements have a reasonable expectation that the company will continue in operation for the foreseeable future and be able to meet it's obligations as and when they fall due. The accounts have therefore been prepared as a going concern.
Group accounts
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
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Yard Associates Limited Notes to the Accounts for the year ended 31 December 2025
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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Yard Associates Limited Notes to the Accounts for the year ended 31 December 2025
Work in progress
Work in progress on rendering of services is recognised when the outcome of a transaction can be estimated reliably. The entity recognises revenue associated with the transaction by reference to the stage of completion of the transaction at the end of the reporting period. The outcome of a transaction can be estimated reliably when all the following conditions are met : (a) the amount of revenue can be measured reliably; (b) it probable that the economic benefits associated with the transaction will flow to the entity; (c) the stage of completion of the transaction at the end of the reporting period can be measured reliably; (d) the costs incurred for the transaction and the costs to complete the transaction can be measured reliably
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' 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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
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
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.
Share capital
Equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
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Yard Associates Limited Notes to the Accounts for the year ended 31 December 2025
Share-based payments
The company provides share-based payment arrangements to certain employees. Equity-settled arrangements are measured at fair value (excluding the effect of non-market based vesting conditions) at the date of the grant. The fair value is expensed on a straightline basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares or options that will vest. Where equity-settled arrangements are modified, and are of benefit to the employee, the incremental fair value is recognised over the period from the date of modification to date of vesting. Where a modification is not beneficial to the employee there is no change to the charge for share-based payment. Settlements and cancellations are treated as an acceleration of vesting and the unvested amount is recognised immediately in the income statement.
4
Tangible fixed assets
Plant & machinery
£
Cost or valuation
At cost
At 1 January 2025
17,436
At 31 December 2025
17,436
Depreciation
At 1 January 2025
13,301
Charge for the year
1,034
At 31 December 2025
14,335
Net book value
At 31 December 2025
3,101
At 31 December 2024
4,135
The company had the following investments in group undertakings which were disposed of in the prior year: - 100% in Visscore Limited, a company registered in England and Wales under company number 09185631 with registered office The Maltings, East Tyndall Street, Cardiff, Wales, CF24 5EZ
6
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
139,425
71,699
Amounts due from group undertakings etc.
82,362
-
Deferred tax asset
-
14,336
Accrued income and prepayments
7,904
5,051
Other debtors
-
41,072
229,691
132,158
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Yard Associates Limited Notes to the Accounts for the year ended 31 December 2025
7
Creditors: amounts falling due within one year
2025
2024
£
£
VAT
54,013
299,329
Trade creditors
107,700
5,777
Amounts owed to group undertakings and other participating interests
-
135,528
Taxes and social security
76,494
73,662
Other creditors
3,817
3,482
Accruals
5,449
14,870
Deferred income
24,315
37,949
271,788
570,597
Included in Amounts owed to group undertakings and other participating interests is £nil (2024: 135,528) to its parent company, Koios Consulting Ltd which is interest free, unsecured and with no fixed repayment date.
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
91,206 B Ordinary shares of £0.001 each
91.20
91.20
18,297 Perferred Ordinary shares of £5.465377 each
100,000.00
100,000.00
100,091.20
100,091.20
9
Pension commitments
In the year there were pension contributions of £18,741 (2024: £34,721) and at the year end there were £3,817 (2024: £3,482) outstanding.
10
Controlling party
On 4 July 2024, 100% of the company was acquired by Koios Consulting Ltd, a company registered in England and Wales under company number 09422819 whose registered office is 62 Cornhill, C/O HCR Legal LLP, London, England, EC3V 3NH.
11
Average number of employees
During the year the average number of employees was 13 (2024: 18).
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