Company Registration No. 08537310 (England and Wales)
YATES TECHNOLOGY HOLDINGS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
YATES TECHNOLOGY HOLDINGS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
YATES TECHNOLOGY HOLDINGS LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
8,496
-
Investments
2
897,428
897,428
905,924
897,428
Current assets
Cash at bank and in hand
5,707
3,000
Creditors: amounts falling due within one year
(965,154)
(901,327)
Net current liabilities
(959,447)
(898,327)
Total assets less current liabilities
(53,523)
(899)
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
(53,524)
(900)
Shareholders' funds
(53,523)
(899)
For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 February 2017
Mrs N Yates
Director
Company Registration No. 08537310
YATES TECHNOLOGY HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Operations are currently financed by the company's director and are dependent upon his continued support in order to maintain the company in operational existence. The financial statements have been prepared on a going concern basis which assumes that the company will continue for the foreseeable future. If the company were unable to continue for the foreseeable future, adjustments would have to be made to reduce balance sheet values of assets to their recoverable amounts and to provide for future liabilities which may arise. The director confirmed his continued support of the company.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for services ..
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Motor vehicles
20% reducing balance
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
YATES TECHNOLOGY HOLDINGS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 3 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 June 2015
-
897,428
897,428
Additions
9,995
-
9,995
At 31 May 2016
9,995
897,428
907,423
Depreciation
At 1 June 2015
-
-
-
Charge for the year
1,499
-
1,499
At 31 May 2016
1,499
-
1,499
Net book value
At 31 May 2016
8,496
897,428
905,924
At 31 May 2015
-
897,428
897,428
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary Share of £1 each
1
1
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