Company registration number 01395898 (England and Wales)
F.W. YELLAND & SON (NORTHLEW) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
PAGES FOR FILING WITH REGISTRAR
F.W. YELLAND & SON (NORTHLEW) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
F.W. YELLAND & SON (NORTHLEW) LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2025
31 October 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
499,530
486,969
Current assets
Stocks
70,894
70,685
Debtors
4
58,907
172,426
Cash at bank and in hand
159,349
272,585
289,150
515,696
Creditors: amounts falling due within one year
5
(43,099)
(192,447)
Net current assets
246,051
323,249
Total assets less current liabilities
745,581
810,218
Provisions for liabilities
(112,714)
(108,074)
Net assets
632,867
702,144
Capital and reserves
Called up share capital
7
56,232
56,232
Profit and loss reserves
576,635
645,912
Total equity
632,867
702,144

For the financial year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 20 May 2026 and are signed on its behalf by:
Mr P J Yelland
Mr C D Yelland
Director
Director
Company registration number 01395898 (England and Wales)
F.W. YELLAND & SON (NORTHLEW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 2 -
1
Accounting policies
Company information

F.W. Yelland & Son (Northlew) Limited is a private company limited by shares incorporated in England and Wales. The registered office is F.W. Yelland & Son (Northlew) Limited, Station Road, Northlew, Okehampton, Devon, EX20 3BN.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
Profit is recognised on long-term contracts if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.
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:

Land and buildings - Freehold
2.5 % per annum on valuation
Plant and machinery
10 % per annum on cost
Fixtures, fittings & equipment
10 % per annum on cost
Motor vehicles
15 % per annum on cost

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.

F.W. YELLAND & SON (NORTHLEW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

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.

1.7
Equity instruments

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

F.W. YELLAND & SON (NORTHLEW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 4 -
1.9
Retirement benefits

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

1.10
Leases

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.

2
Employees

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

2025
2024
Number
Number
Total
6
5
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 November 2024
480,000
311,484
791,484
Additions
-
0
28,500
28,500
Disposals
-
0
(17,450)
(17,450)
At 31 October 2025
480,000
322,534
802,534
Depreciation and impairment
At 1 November 2024
42,000
262,515
304,515
Depreciation charged in the year
6,000
8,197
14,197
Eliminated in respect of disposals
-
0
(15,708)
(15,708)
At 31 October 2025
48,000
255,004
303,004
Carrying amount
At 31 October 2025
432,000
67,530
499,530
At 31 October 2024
438,000
48,969
486,969

The revaluation of land and buildings has been arrived at on the basis of a valuation carried out in 2018.

The valuation was made on an open market value basis by reference to market evidence of transaction

prices for similar properties.

Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amounts would have been approximately £33,029 (2024 - £34,103), being cost £59,946 (2024 - £59,946) and depreciation £26,917 (2024 - £25,843).

F.W. YELLAND & SON (NORTHLEW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 5 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
38,730
168,691
Other debtors
20,177
3,735
58,907
172,426
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
29,392
128,182
Taxation and social security
3,172
57,871
Other creditors
10,535
6,394
43,099
192,447
6
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
16,882
12,242
Revaluations
95,832
95,832
112,714
108,074
2025
Movements in the year:
£
Liability at 1 November 2024
108,074
Charge to profit or loss
4,640
Liability at 31 October 2025
112,714
F.W. YELLAND & SON (NORTHLEW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 6 -
7
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
56,132 Ordinary "A" shares of £1 each
56,132
56,132
100 Ordinary "B" shares of £1 each
100
100
56,232
56,232
8
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the year
385,572
390,498
Transfer to distributable profits in the year
(4,926)
(4,926)
At the end of the year
380,646
385,572

The non-distributable reserves which are included within the total profit and loss reserves relate to historic revaluations of investment property.

Transfers to distributable profits compensates for additional depreciation from revaluation and has no effect on taxation.

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