Y & G Homes Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11700371 (England and Wales)

Y & G HOMES LTD

FINANCIAL STATEMENTS

FOR THE PERIOD

28 NOVEMBER 2018 TO 30 NOVEMBER 2019

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

Mrs S R Klein

REGISTERED OFFICE:

5a Fountayne Road

London

N16 7EA

REGISTERED NUMBER:

11700371 (England and Wales)

ACCOUNTANTS:

Sugarwhite Meyer Accountants Ltd

First Floor

94 Stamford Hill

London

N16 6XS

FIXED ASSETS

Investment property

5

1,674,857

CURRENT ASSETS

Debtors

6

91,221

Cash at bank

154,058

245,279

CREDITORS

Amounts falling due within one year

7

841,563

NET CURRENT LIABILITIES

(596,284

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,078,573

CREDITORS

Amounts falling due after more than one year

8

1,103,988

NET LIABILITIES

(25,415

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(25,416

)

(25,415

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 July 2020 and were signed by:

Mrs S R Klein - Director

1.	STATUTORY INFORMATION

Y & G Homes Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis, as modified to include

investment properties measured at fair value through profit or loss.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and

assumptions that affect the amounts reported. These estimates and judgements are continually

reviewed and are based on experience and other factors, including expectations of future events that

are believed to be reasonable under the circumstances.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly

attributable expenditure. It is revalued to its fair value at each reporting date and any changes in fair

value are recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss

Account, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the period end and that

are expected to apply to the reversal of the timing difference.

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.

Going concern

The financial statements have been prepared in accordance with the accounting principles appropriate

to a going concern notwithstanding the deficiency in net assets at the balance sheet date. The director

considers this to be appropriate having regard to the continued provision of financial support by the

company's director and creditors.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

1,674,857

At 30 November 2019

1,674,857

NET BOOK VALUE

At 30 November 2019

1,674,857

The fair value of the investment properties has been arrived at on the basis of a valuation carried out

by the company's director who has the experience and expertise required to undertake such an

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

transaction prices for similar properties in the same location.

The historical cost of investment properties at 30 November 2019 is £1,674,857.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

91,221

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

841,563

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

1,103,988

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more than 5 years by non-instalments

1,103,988

9.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

1,103,988

The bank loan is secured by a legal charge over the company's investment properties.

10.	RELATED PARTY DISCLOSURES

Other debtors include amounts aggregating £2,000 due from related companies under common

control.

Other creditors include amounts aggregating £728,334 due to related companies under common

control.