YPO Procurement Holdings Limited
YPO Procurement Holdings Limited
Registered number: 09143304
Directors' Report and
Financial Statements
For The Year Ended 31 December 2016
YPO Supplies
YPO Procurement Holdings Limited
Directors' Report and Financial Statements
For The Year Ended 31 December 2016
Directors' Report and Financial Statements
| Contents | |
| Page | |
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| Company Information | 1 |
| Directors' Report | 2 |
| Auditor's Report | 3—4 |
| Profit and Loss Account | 5 |
| Balance Sheet | 6 |
| Statement of Changes in Equity | 7 |
| Notes to the Financial Statements | 8—9 |
YPO Procurement Holdings Limited
Company Information
For The Year Ended 31 December 2016
Company Information
| Directors |
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| Secretary |
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| Company Number |
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| Registered Office | 41 Industrial Park |
| Wakefield | |
| West Yorkshire | |
| WF2 0XE | |
| Business | 41 Industrial Park |
| Wakefield | |
| West Yorkshire | |
| WF2 0XE | |
| Auditors |
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| 1 St Peter's Square | |
| Manchester | |
| M2 3AE | |
Page 1
YPO Procurement Holdings Limited
Company No. 09143304
Directors' Report For The Year Ended 31 December 2016
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2016 .
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
Statement of Disclosure of Information to Auditors
The directors of the company who held office at the date of approval of this annual report confirm that:
- so far as they are aware, there is no relevant audit information of which the company's auditors are unaware; and
- they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Directors
The directors who held office during the year were as follows:
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Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
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Page 2
YPO Procurement Holdings Limited
Auditor's Report
For The Year Ended 31 December 2016
Auditor's Report
Independent Auditor's Report to the Members of YPO Procurement Holdings Limited
We have audited the financial statements of YPO Procurement Holdings Limited for the year ended 31 December 2016 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes of Equity and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 - Section 1A for Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Respective Responsibilities of Directors and Auditors
As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board (APB's) Ethical Standards for Auditors, including APB Ethical Standard - Provisions Available for Small Entities (Revised), in the circumstances set out in note 8 to the financial statements.
Scope of the Audit of the Financial Statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
Opinion on Financial Statements
In our opinion the financial statements:
- give a true and fair view of the state of the company's affairs as at
31 December 2016 and of its profit/(loss) for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
Opinion on Other Matter Prescribed by the Companies Act 2006
In our opinion the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us;
- the financial statements are not in agreement with the accounting records or returns;
- certain disclosures of directors' remuneration specified by law are not made;
- we have not received all the information and explanations we require for our audit, or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report.
Page 3
YPO Procurement Holdings Limited
Auditor's Report (continued)
For The Year Ended 31 December 2016
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1 St Peter's Square
Manchester
M2 3AE
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Page 4
YPO Procurement Holdings Limited
Profit and Loss Account
For The Year Ended 31 December 2016
Profit and Loss Account
| 2016 | ||
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| Notes | £ | |
| Administrative expenses |
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| OPERATING LOSS | 2 |
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| Other interest receivable and similar income |
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| LOSS FOR THE FINANCIAL YEAR |
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The notes on pages 8 to 9 form part of these financial statements.
Page 5
YPO Procurement Holdings Limited
Balance Sheet
As at
31 December 2016
Balance Sheet
| 2016 | |||
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| Notes | £ | £ | |
| FIXED ASSETS | |||
| Intangible Assets | 4 |
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| CURRENT ASSETS | |||
| Cash at bank and in hand |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||
| Called up share capital | 7 |
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| Share premium account |
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| Profit and loss account |
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| SHAREHOLDERS' FUNDS | (23,346) | ||
Directors' responsibilities:
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
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The notes on pages 8 to 9 form part of these financial statements.
Page 6
YPO Procurement Holdings Limited
Statement of Changes in Equity
For The Year Ended 31 December 2016
Statement of Changes in Equity
| Share Capital | Share Premium | Profit & Loss Account | Total | |
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| £ | £ | £ | £ | |
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(9,977) |
| Loss for the year and total comprehensive income | - | - |
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(13,369) |
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(23,346) |
Page 7
YPO Procurement Holdings Limited
Notes to the Accounts
For The Year Ended 31 December 2016
Notes to the Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
These financial statements were prepared in accordance with Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (“FRS 102”) as issued in August 2014. The amendments to FRS 102 issued in July 2015 and effective immediately have been applied. The presentation currency of these financial statements is sterling.
1.2.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Internally Generated Website and E-commerce development costs. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.
Operating Loss
| 2016 | |
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| £ | |
| Audit fees |
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| Amortisation of intangible fixed assets |
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3.
Average number of employees
YPO Procurement Holdings Group and its subsidiaries do not have any persons employed.
| 2016 | |
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4.
Intangible Assets
| Other | |||
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| Cost | |||
| As at |
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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Page 8
YPO Procurement Holdings Limited
Notes to the Accounts (continued)
For The Year Ended 31 December 2016
5.
Investments
| Other | |
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| £ | |
| Cost | |
| As at |
3,841 |
| Revaluations | (3,841) |
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| Provision | |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
3,841 |
6.
Creditors: Amounts Falling Due After More Than One Year
| 2016 | |
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| £ | |
| Amounts owed to subsidiaries |
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8.
APB Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
9.
Ultimate Controlling Party
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
10.
General Information
YPO Procurement Holdings Limited Registered number 09143304 is a limited by shares company incorporated in England & Wales. The Registered Office is 41 Industrial Park, Wakefield, West Yorkshire, WF2 0XE.
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