Registered number
10459729
Yen Investments Ltd
Filleted Accounts
30 November 2022
Yen Investments Ltd
Registered number: 10459729
Balance Sheet
as at 30 November 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 1 70,000
Tangible assets 4 76,453 93,342
76,454 163,342
Current assets
Stocks 5,000 6,500
Debtors 5 19,500 20,998
Cash at bank and in hand 958 14,716
25,458 42,214
Creditors: amounts falling due within one year 6 (457,058) (488,799)
Net current liabilities (431,600) (446,585)
Total assets less current liabilities (355,146) (283,243)
Creditors: amounts falling due after more than one year 7 (41,609) (50,000)
Net liabilities (396,755) (333,243)
Capital and reserves
Called up share capital 1 1
Profit and loss account (396,756) (333,244)
Shareholder's funds (396,755) (333,243)
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.
Ms Hai Yen Nguyen
Director
Approved by the board on 26 September 2023
Yen Investments Ltd
Notes to the Accounts
for the year ended 30 November 2022
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 25 22
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2021 350,000
At 30 November 2022 350,000
Amortisation
At 1 December 2021 280,000
Provided during the year 69,999
At 30 November 2022 349,999
Net book value
At 30 November 2022 1
At 30 November 2021 70,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2021 97,534 61,224 158,758
At 30 November 2022 97,534 61,224 158,758
Depreciation
At 1 December 2021 16,824 48,592 65,416
Charge for the year 4,644 12,245 16,889
At 30 November 2022 21,468 60,837 82,305
Net book value
At 30 November 2022 76,066 387 76,453
At 30 November 2021 80,710 12,632 93,342
5 Debtors 2022 2021
£ £
Deferred tax asset - 1,498
Other debtors 19,500 19,500
19,500 20,998
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loan 5,000 -
Director's loan 409,741 433,347
Taxation and social security costs 39,117 34,034
Other creditors 3,200 21,418
457,058 488,799
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loan 41,609 50,000
8 Other information
Yen Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1B Southwark Street
London
SE1 1RQ
9 Controlling party
The company is ultimately controlled by the sole director.
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