Yapp Brothers Limited - Period Ending 2023-06-30
Yapp Brothers Limited - Period Ending 2023-06-30
Year Ended
Registration number:
Yapp Brothers Limited
Contents
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Yapp Brothers Limited
Balance Sheet
30 June 2023
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2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Shareholders' funds |
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These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 01888369
Yapp Brothers Limited
Statement of Changes in Equity
Year Ended 30 June 2023
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 July 2022 |
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Profit for the year |
- |
- |
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At 30 June 2023 |
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 July 2021 |
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Profit for the year |
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- |
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Dividends |
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- |
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At 30 June 2022 |
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Yapp Brothers Limited
Notes to the Financial Statements
Year Ended 30 June 2023
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling, rounded to the nearest whole pound.
Going concern
The directors have considered the income streams and have reviewed the level of core overheads of the business, to determine if there is sufficient working capital to meet these requirements, for a period of at least twelve months from the date of approval of these financial statements. Following this review, based on the information available to date the directors are satisfied that the company has sufficient cash balances to meet these requirements and, accordingly, the directors continue to adopt the going concern basis of presentation.
Yapp Brothers Limited
Notes to the Financial Statements
Year Ended 30 June 2023
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
Revenue for the sale of goods is recognised when the significant risks and rewards of ownership of the goods has passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
In relation to En Primeur sales where customers purchase a wine while it is still being grown in order to benefit from potential price changes over its life, revenue is recognised at the point where the company has secured the order,which is in line with its requirements within the agreement.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and Equipment |
15 - 25% straight line |
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Fixture and fittings |
10 -15% straight line |
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Motor vehicles |
20% straight line |
Yapp Brothers Limited
Notes to the Financial Statements
Year Ended 30 June 2023
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Website costs |
20% straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials, duty and carriage that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Yapp Brothers Limited
Notes to the Financial Statements
Year Ended 30 June 2023
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Taxation |
Tax charged/(credited) in the profit and loss account
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2023 |
2022 |
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Current taxation |
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UK corporation tax |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
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Tax expense in the income statement |
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Deferred tax
The deferred tax liability represents the difference between accumulated depreciation and capital allowances of £11,141 (2022 - £15,581).
Yapp Brothers Limited
Notes to the Financial Statements
Year Ended 30 June 2023
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Intangible assets |
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Website costs |
Total |
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Cost or valuation |
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At 1 July 2022 |
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Additions acquired separately |
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At 30 June 2023 |
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Amortisation |
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At 1 July 2022 |
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Amortisation charge |
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At 30 June 2023 |
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Carrying amount |
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At 30 June 2023 |
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At 30 June 2022 |
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Yapp Brothers Limited
Notes to the Financial Statements
Year Ended 30 June 2023
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Tangible assets |
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Plant and machinery etc |
Total |
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Cost or valuation |
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At 1 July 2022 |
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Additions |
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At 30 June 2023 |
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Depreciation |
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At 1 July 2022 |
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Charge for the year |
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At 30 June 2023 |
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Carrying amount |
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At 30 June 2023 |
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At 30 June 2022 |
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Stocks |
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2023 |
2022 |
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Finished goods and goods for resale |
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Debtors |
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2023 |
2022 |
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Trade debtors |
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Other debtors |
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Yapp Brothers Limited
Notes to the Financial Statements
Year Ended 30 June 2023
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Creditors |
Creditors: amounts falling due within one year
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2023 |
2022 |
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Due within one year |
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Trade creditors |
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Corporation tax |
23,961 |
62,835 |
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Taxation and social security |
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Other creditors |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
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Related party transactions |
Summary of transactions with all group companies
During the year Yapp Brothers Limited made sales of £603 (2022 - £4,519) to group companies. At year end Yapp Brothers Limited was owed £Nil (2022 - £1,711) from group companies.
Summary of transactions with other related parties
During the year the company paid rent of £28,000 (2022 - £ 28,000) to the parents of a director.
Yapp Brothers Limited
Notes to the Financial Statements
Year Ended 30 June 2023
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Parent and ultimate parent undertaking |
The company’s immediate parent is Reh Kendermann GmbH, incorporated in Germany, by virtue of its 85% holding (2022 - 85%) of the issued share capital of Yapp Brothers Limited.
The financial statements are available upon request from Reh Kendermann GmbH, Weinkellerei, Am Okenheimer, Graben 35, D-55411, Bingen/Rhein.
Reh Kendermann GmbH is controlled by Mr and Mrs C Reh.
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Non adjusting events after the financial period |
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Audit report |