Yellow Spaces Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11673734 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2020

for

Yellow Spaces Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

6

DIRECTORS:

J Etty

R R Russo

REGISTERED OFFICE:

c/o Charnwood Accountants

The Point, Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

REGISTERED NUMBER:

11673734 (England and Wales)

ACCOUNTANTS:

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

FIXED ASSETS

Investment property

4

990,000

929,931

CURRENT ASSETS

Cash at bank

33,251

21,380

CREDITORS

Amounts falling due within one year

5

277,690

297,345

NET CURRENT LIABILITIES

(244,439

)

(275,965

)

TOTAL ASSETS LESS CURRENT LIABILITIES

745,561

653,966

CREDITORS

Amounts falling due after more than one year

6

(708,000

)

(653,810

)

PROVISIONS FOR LIABILITIES

(10,114

)

-

NET ASSETS

27,447

156

CAPITAL AND RESERVES

Called up share capital

7

100

100

Non-distributable reserve

43,116

-

Retained earnings

(15,769

)

56

SHAREHOLDERS' FUNDS

27,447

156

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2021 and were signed on its behalf by:

J Etty - Director

1.	STATUTORY INFORMATION

Yellow Spaces 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 as modified by the revaluation of certain assets.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

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

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2019

929,931

Additions

6,839

Revaluations

53,230

At 30 November 2020

990,000

NET BOOK VALUE

At 30 November 2020

990,000

At 30 November 2019

929,931

Fair value at 30 November 2020 is represented by:

£

Valuation in 2020

53,230

Cost

936,770

990,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Bank loans and overdrafts

-

31,020

Taxation and social security

-

13

Other creditors

277,690

266,312

277,690

297,345

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.20

30.11.19

£

£

Bank loans

708,000

653,810

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.20

30.11.19

value:

£

£

100

Ordinary

1

100

100

8.	ULTIMATE CONTROLLING PARTY

The company is under the control of Mr J Etty and Mr R Russo

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Yellow Spaces Limited for the year ended 30 November 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Yellow Spaces Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Yellow Spaces Limited and state those matters that we have agreed to state to the Board of Directors of Yellow Spaces Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Yellow Spaces Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Yellow Spaces Limited. You consider that Yellow Spaces Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Yellow Spaces Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

12 August 2021