George Yates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05912818 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

George Yates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C G Hudson

Ms E R Forster

SECRETARY:

C G Hudson

REGISTERED OFFICE:

1 Foundry Yard

New Row

Boroughbridge

North Yorkshire

YO51 9AX

REGISTERED NUMBER:

05912818 (England and Wales)

ACCOUNTANTS:

Percy Pemberton & Co

PO Box 241

Wakefield

West Yorkshire

WF2 6WA

FIXED ASSETS

Intangible assets

4

56,278

60,322

Tangible assets

5

-

-

56,278

60,322

CURRENT ASSETS

Debtors

6

10,638

1,000

Cash at bank and in hand

12,312

14,243

22,950

15,243

CREDITORS

Amounts falling due within one year

7

(45,089

)

(45,095

)

NET CURRENT LIABILITIES

(22,139

)

(29,852

)

TOTAL ASSETS LESS CURRENT LIABILITIES

34,139

30,470

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

34,137

30,468

SHAREHOLDERS' FUNDS

34,139

30,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 19 July 2021 and were signed on its behalf by:

C G Hudson - Director

1.	STATUTORY INFORMATION

George Yates 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Cost of pitch lists are being amortised evenly over their estimated useful life of nil years.

Intangible assets

Due to a change in their status, Pitches now have a finite life therefore it has been decided to write off the cost of these over the next twenty years on a straightline basis.

Tangible fixed assets

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

Equipment

-

25% on cost

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2020

and 31 December 2020

80,942

AMORTISATION

At 1 January 2020

20,620

Charge for year

4,044

At 31 December 2020

24,664

NET BOOK VALUE

At 31 December 2020

56,278

At 31 December 2019

60,322

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

and 31 December 2020

7,490

DEPRECIATION

At 1 January 2020

and 31 December 2020

7,490

NET BOOK VALUE

At 31 December 2020

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Other debtors

1,000

1,000

Prepayments

9,638

-

10,638

1,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Tax

861

755

Directors' current accounts

43,965

43,965

Accrued expenses

263

375

45,089

45,095