YPO Procurement Holdings Limited
YPO Procurement Holdings Limited
Registered number: 09143304
Directors' Report and
Financial Statements
For The Year Ended 31 December 2017
YPO Supplies
YPO Procurement Holdings Limited
Directors' Report and Financial Statements
For The Year Ended 31 December 2017
Directors' Report and Financial Statements
| Contents | |
| Page | |
|---|---|
| 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 2017
Company Information
| Directors |
|
|
|
|
|
|
|
| Secretary |
|
| Company Number |
|
| Registered Office | 41 Industrial Park |
| Wakefield | |
| West Yorkshire | |
| WF2 0XE | |
| Auditors |
|
| 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 2017
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2017 .
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.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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:
|
|
|
|
|
|
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.
By order of the board
|
|
|
|
Page 2
YPO Procurement Holdings Limited
Auditor's Report
For The Year Ended 31 December 2017
Auditor's Report
Opinion
We have audited the financial statements of YPO Procurement Holdings Limited for the year ended 31 December 2017 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes of Equity and the related notes, including a summary of significant accounting policies. 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".
This report is made solely to the company's members, as a body, in accordance with the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
In our opinion the financial statements:
- give a true and fair view of the state of the company's affairs as at
31 December 2017 and of its profit/(loss) for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Practice applicable to smaller entities; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
Basis of Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK , including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 8 to the financial statements and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Opinion on Other Matter Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors' report has been prepared in accordance with applicable legal requirements.
Page 3
YPO Procurement Holdings Limited
Auditor's Report (continued)
For The Year Ended 31 December 2017
Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.
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' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of Directors
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, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
|
for and on behalf of
|
|
|
|
1 St Peter's Square
Manchester
M2 3AE
|
Page 4
YPO Procurement Holdings Limited
Profit and Loss Account
For The Year Ended 31 December 2017
Profit and Loss Account
| 2017 | 2016 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| Administrative expenses |
( |
( |
||
| OPERATING LOSS |
( |
( |
||
| Other interest receivable and similar income |
|
|
||
| LOSS FOR THE FINANCIAL YEAR |
( |
( |
||
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 2017
Balance Sheet
| 2017 | 2016 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 5 |
( |
|
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year | 6 |
( |
( |
||
| NET ASSETS |
( |
( |
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
|
|
||
| Share premium account |
|
|
|||
| Profit and Loss Account |
( |
( |
|||
| SHAREHOLDERS' FUNDS | (32,927) | (23,346) | |||
Directors' responsibilities:
-
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
|
|
|
|
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 2017
Statement of Changes in Equity
| Share Capital | Share Premium | Profit and Loss Account | Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| As at 1 January 2016 |
|
|
( |
(9,977) |
| Loss for the year and total comprehensive income | - | - |
( |
(13,369) |
| As at 31 December 2016 and 1 January 2017 |
|
|
( |
(23,346) |
| Loss for the year and total comprehensive income | - | - |
( |
(9,581) |
| As at |
|
|
( |
(32,927) |
Page 7
YPO Procurement Holdings Limited
Notes to the Financial Statements
For The Year Ended 31 December 2017
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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.
Average Number of Employees
YPO Procurement Holdings Group and its subsidiaries do not have any persons employed.
3.
Intangible Assets
| Other | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at |
|
||
| As at |
|
||
| Amortisation | |||
| As at |
|
||
| Provided during the period |
|
||
| As at |
|
||
| Net Book Value | |||
| As at |
|
||
| As at |
|
||
5.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Accruals and deferred income |
|
|
|
|
|
|
||
6.
Creditors: Amounts Falling Due After More Than One Year
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts owed to subsidiaries |
|
|
|
Page 8
YPO Procurement Holdings Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2017
8.
FRC 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.
General Information
YPO Procurement Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09143304 . The registered office is 41 Industrial Park, Wakefield, West Yorkshire, WF2 0XE.
Page 9