REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2022 |
for |
YRG Solutions Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2022 |
for |
YRG Solutions Limited |
YRG Solutions Limited (Registered number: 05318005) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
YRG Solutions Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
Kepier House, Belmont Business Park |
Durham |
County Durham |
DH1 1TW |
YRG Solutions Limited (Registered number: 05318005) |
Balance Sheet |
31 December 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
YRG Solutions Limited (Registered number: 05318005) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
YRG Solutions Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Going concern |
The directors assess whether the use of going concern is appropriate i.e. whether there are any material |
uncertainties related to events or conditions that may cast significant doubt on the ability of the company to |
continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date the financial statements are approved. |
The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. If the company is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse long term liabilities as current liabilities. |
Related party exemption |
All transactions entered into with companies under common control were concluded under normal market conditions, therefore no further disclosure is necessary in accordance with FRS102 Section 1A. |
Turnover |
Turnover represents the amount derived from the provision of goods and services to customers after deduction of trade discounts and value added tax. Turnover is recognised at the point at which the risks and rewards of the goods are transferred to the customer and the services are rendered. |
Turnover includes revenue from the sale of goods. |
Income recognition |
Income is recognised when a contract for the sale of goods is determined as unconditional. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets are measured at cost less accumulated depreciation and impairment. |
Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
YRG Solutions Limited (Registered number: 05318005) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2022 |
Additions |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
YRG Solutions Limited (Registered number: 05318005) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts (see note 7) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Accruals and deferred income |
7. | LOANS |
An analysis of the maturity of loans is given below: |
2022 | 2021 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary A shares | £1 | 12,750 | 12,750 |
NIL | Ordinary C shares | £1 | - | 6,125 |
12,750 | 18,875 |
On 22 December 2022 the company purchased 6,125 Ordinary C shares for £100,000. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | CONTINGENT LIABILITIES |
The company and its fellow group members have granted a cross guarantee to the group's bankers in respect of each company's bank borrowings.The total value of these borrowings in the group as at 31 December 2022 is £2,062,400 (2021: £1,899,000). |
YRG Solutions Limited (Registered number: 05318005) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
11. | ULTIMATE PARENT COMPANY |
The ultimate parent company is YRG Group Limited, a private company, limited by shares, registered in England and Wales. The company's registered office is 20 Trinity Lane, Micklegate, York, North Yorkshire, YO1 6EL. |