Y.M.S. Estates Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09194110 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

Y.M.S. ESTATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

M Stern

REGISTERED OFFICE:

Unit 13 Grosvenor way

London

E5 9ND

REGISTERED NUMBER:

09194110 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Investment property

4

420,000

260,000

CURRENT ASSETS

Debtors

5

101,311

58,375

Cash at bank

6,989

54,363

108,300

112,738

CREDITORS

Amounts falling due within one year

6

(25,512

)

(26,004

)

NET CURRENT ASSETS

82,788

86,734

TOTAL ASSETS LESS CURRENT LIABILITIES

502,788

346,734

CREDITORS

Amounts falling due after more than one year

7

(301,288

)

(302,888

)

PROVISIONS FOR LIABILITIES

(33,044

)

(1,900

)

NET ASSETS

168,456

41,946

CAPITAL AND RESERVES

Called up share capital

9

1

1

Revaluation reserve

10

159,099

30,243

Retained earnings

10

9,356

11,702

SHAREHOLDERS' FUNDS

168,456

41,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 31 May 2024 and were signed by:

M Stern - Director

1.	STATUTORY INFORMATION

Y.M.S. Estates Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents net rent receivable, excluding value added tax.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2022

260,000

Revaluations

160,000

At 31 August 2023

420,000

NET BOOK VALUE

At 31 August 2023

420,000

At 31 August 2022

260,000

Fair value at 31 August 2023 is represented by:

£

Valuation in 2017

22,143

Valuation in 2020

10,000

Valuation in 2023

160,000

Cost

227,857

420,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Trade debtors

1,311

1,375

Other debtors

100,000

57,000

101,311

58,375

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Taxation and social security

687

687

Other creditors

24,825

25,317

25,512

26,004

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.23

31.8.22

£

£

Bank loans

296,888

296,888

Other creditors

4,400

6,000

301,288

302,888

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

296,888

296,888

Repayable by instalments

Other loans more 5yrs instal

4,400

6,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.23

31.8.22

£

£

Bank loans

296,888

296,888

Other loans

4,400

6,000

301,288

302,888

1. Long term bank loan is secured by first charge over the company's investment property.

2. Under the bank loan, £4,400 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.23

31.8.22

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 September 2022

11,702

30,243

41,945

Profit for the year

126,510

126,510

Revaluation reserve

(128,856

)

128,856

-

At 31 August 2023

9,356

159,099

168,455

11.	ULTIMATE CONTROLLING PARTY

The controlling party is M Stern.