Yardarm Software Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02490439 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2020

FOR

YARDARM SOFTWARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Terelak

Mrs M K Terelak

SECRETARY:

Mrs M K Terelak

REGISTERED OFFICE:

Barbon

Pilgrims Close

Westhumble

Dorking

Surrey

RH5 6AR

REGISTERED NUMBER:

02490439 (England and Wales)

ACCOUNTANTS:

GBJ Financial Limited

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

FIXED ASSETS

Tangible assets

4

362

-

CURRENT ASSETS

Stocks

12,650

10,725

Debtors

5

11,512

14,706

Cash at bank

9,909

9,256

34,071

34,687

CREDITORS

Amounts falling due within one year

6

27,628

29,388

NET CURRENT ASSETS

6,443

5,299

TOTAL ASSETS LESS CURRENT LIABILITIES

6,805

5,299

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

5,805

4,299

SHAREHOLDERS' FUNDS

6,805

5,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th August 2020 and were signed on its behalf by:

P Terelak - Director

1.	STATUTORY INFORMATION

Yardarm Software Limited 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Office equipment and furniture

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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 year 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

Plant and

and

Computer

machinery

furniture

equipment

Totals

£

£

£

£

COST

At 1st May 2019

14,395

215

870

15,480

Additions

-

-

540

540

At 30th April 2020

14,395

215

1,410

16,020

DEPRECIATION

At 1st May 2019

14,395

215

870

15,480

Charge for year

-

-

178

178

At 30th April 2020

14,395

215

1,048

15,658

NET BOOK VALUE

At 30th April 2020

-

-

362

362

At 30th April 2019

-

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Other debtors

11,512

14,706

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans and overdrafts

-

2,238

Trade creditors

49

42

Taxation and social security

25,564

25,113

Other creditors

2,015

1,995

27,628

29,388

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.20

30.4.19

£

£

Bank loans

-

2,238

Mr P Terelak, a director of the company, had given a personal guarantee of £15,000 in respect of the

bank borrowing.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th April 2020

and 30th April 2019:

30.4.20

30.4.19

£

£

P Terelak

Balance outstanding at start of year

5,895

5,767

Amounts advanced

-

128

Amounts repaid

(1,277

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,618

5,895

Mrs M K Terelak

Balance outstanding at start of year

5,790

5,662

Amounts advanced

-

128

Amounts repaid

(1,277

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,513

5,790

Interest charged at the Official Rate amounted to £242 (2019: £306).

9.	ULTIMATE CONTROLLING PARTY