Company Registration No. 05322652 (England and Wales)
YP Finance Limited
Filleted accounts
for the year ended 31 December 2020
YP Finance Limited
Filleted accounts
Contents
YP Finance Limited
Company Information
for the year ended 31 December 2020
Company Number
05322652 (England and Wales)
Registered Office
Hawthorne House
17a Hawthorne Drive
Leicester
LE5 6DL
Accountants
YP Finance
Hawthorne House
17A Hawthorne Drive
Leicester
Leicestershire
LE5 6DL
YP Finance Limited
Statement of financial position
as at 31 December 2020
Investment property
222,518
222,518
Cash at bank and in hand
206,858
157,205
Creditors: amounts falling due within one year
(414,647)
(207,915)
Net current (liabilities)/assets
(185,172)
6,306
Called up share capital
76
78
Profit and loss account
37,270
228,746
Shareholders' funds
37,346
228,824
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 September 2021 and were signed on its behalf by
Y Patas
Director
Company Registration No. 05322652
YP Finance Limited
Notes to the Accounts
for the year ended 31 December 2020
YP Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 05322652. The registered office is Hawthorne House, 17a Hawthorne Drive, Leicester, LE5 6DL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 January 2020
222,518
At 31 December 2020
222,518
YP Finance Limited
Notes to the Accounts
for the year ended 31 December 2020
5
Investments
Other investments
Valuation at 1 January 2020
-
Fair value adjustments
(474,443)
Valuation at 31 December 2020
-
6
Debtors: amounts falling due within one year
2020
2019
Trade debtors
22,617
57,016
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
50,000
-
Taxes and social security
72
38,321
Loans from directors
325,211
150,164
Allotted, called up and fully paid:
75 A Ordinary shares of £1 each
75
75
1 B Ordinary Shares of £1 each
1
1
- C Ordinary Shares of £1 each
-
1
- D Ordinary Shares of £1 each
-
1
9
Average number of employees
During the year the average number of employees was 1 (2019: 1).
