YPG ASSOCIATES LTD - Accounts

YPG ASSOCIATES LTD - Accounts

YPG ASSOCIATES LTD - Company Information

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Registered Number: 11762026
England and Wales

 

 

 

YPG ASSOCIATES LTD


Unaudited Amending Financial Statements
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023

YPG ASSOCIATES LTD
Contents Page
For the year ended 31 January 2023
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Intangible fixed assets 3 4,210    5,156 
Tangible fixed assets 4 2,590    3,599 
Investments 5 1    1 
6,801    8,756 
Current assets      
Debtors 6 18,692    22,800 
Cash at bank and in hand 48,129    40,089 
66,821    62,889 
Creditors: amount falling due within one year 7 (34,652)   (38,894)
Net current assets 32,169    23,995 
 
Total assets less current liabilities 38,970    32,751 
Creditors: amount falling due after more than one year 8 (4,010)   (5,638)
Provisions for liabilities 9 (492)   (696)
Net assets 34,468    26,417 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 34,368    26,317 
Shareholder's funds 34,468    26,417 
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 30 May 2023 and were signed by:


--------------------------------
Chanelle Kirkum
Director
1
General Information
YPG ASSOCIATES LTD is a private company, limited by shares, registered in England and Wales, registration number 11762026, registration address 33 Quarry Road, Swindon, SN1 4EN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. Website costs are amortised on a straight line basis over 5 years, the expected useful economic life of the current website.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 3 Straight Line
Fixtures and Fittings 5 Straight Line
Office Equipment 5 Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 2).
3.

Intangible fixed assets

Cost Website Development   Total
  £   £
At 01 February 2022 6,313    6,313 
Additions -    - 
Disposals -    - 
At 31 January 2023 6,313    6,313 
Amortisation
At 01 February 2022 1,157    1,157 
Charge for year 946    946 
On disposals -    - 
At 31 January 2023 2,103    2,103 
Net book values
At 31 January 2023 4,210    4,210 
At 31 January 2022 5,156    5,156 


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Fixtures and Fittings   Office Equipment   Total
  £   £   £   £
At 01 February 2022 711    1,200    2,571    4,482 
Additions -    150    166    316 
Disposals -    -    -    - 
At 31 January 2023 711    1,350    2,737    4,798 
Depreciation
At 01 February 2022 118    100    665    883 
Charge for year 142    270    913    1,325 
On disposals -    -    -    - 
At 31 January 2023 260    370    1,578    2,208 
Net book values
Closing balance as at 31 January 2023 451    980    1,159    2,590 
Opening balance as at 01 February 2022 593    1,100    1,906    3,599 


5.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 February 2022 1    1 
Additions -    - 
Transfer to/from Tangible fixed assets 0    0 
Disposals -    - 
At 31 January 2023 1    1 
During the period the company acquired a 50% shareholding in a YPG AssociatesHR Limited.

6.

Debtors: amounts falling due within one year

2023
£		   2022
£
Trade Debtors 17,298    21,400 
Accrued Income 1,250    1,400 
PAYE & Social Security 144    0 
18,692    22,800 

7.

Creditors: amount falling due within one year

2023
£		   2022
£
Bank Loans & Overdrafts 0    1,727 
Bounce Back Loan (under 1 year) 1,814    1,814 
Corporation Tax 7,834    10,417 
PAYE & Social Security 0    283 
Other Creditors (1)   (1)
Wages & Salaries Control Account 0    1 
Directors' Current Accounts 16,607    15,437 
VAT 8,398    9,216 
34,652    38,894 

8.

Creditors: amount falling due after more than one year

2023
£		   2022
£
Bounce Back Loan (over 1 year) 4,009    5,637 
Other Creditors 1    1 
4,010    5,638 

9.

Provisions for liabilities

2023
£		   2022
£
Deferred Tax 684    171 
Charged to Profit & Loss (192)   513 
Pension Provisions 0    12 
492    696 

10.

Pension liability

The pension liability at year end was £0 (2022: £12).
2