Yeil Express Ltd
Registered number: 04619621
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 6,919 9,225
Current assets
Debtors 4 6,786 1,874
Cash at bank 36,021 66,413
42,807 68,287
Creditors: amounts falling due within one year 5 (42,545) (66,583)
Net current assets 262 1,704
Net assets 7,181 10,929
Capital and reserves
Called up share capital 1 1
Profit and loss account 7,180 10,928
Shareholder's funds 7,181 10,929
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Y S Suh
Director
Approved by the board on 2 September 2022
Yeil Express Ltd
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicle 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Motor vehicle
£
Cost
At 1 January 2021 16,400
At 31 December 2021 16,400
Depreciation
At 1 January 2021 7,175
Charge for the year 2,306
At 31 December 2021 9,481
Net book value
At 31 December 2021 6,919
At 31 December 2020 9,225
4 Debtors 2021 2020
£ £
Trade debtors 1,027 634
Other debtors 5,759 1,240
6,786 1,874
5 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 18,288 23,879
Corporation tax - 105
Other taxes and social security costs 2 1
Other creditors 24,255 42,598
42,545 66,583
6 Other information
Yeil Express Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 41, Chessington Business Centre
37 Cox Lane
Chessington
Surrey
KT9 1SD
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