Registered number
08029598
Shuang Yun Building Contractor Limited
Filleted Accounts
31 January 2023
Shuang Yun Building Contractor Limited
Registered number: 08029598
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 39,506 52,675
Investments 4 100 100
39,606 52,775
Current assets
Stocks 342,961 55,719
Debtors 5 869,839 1,067,869
Cash at bank and in hand 12,958 4,179
1,225,758 1,127,767
Creditors: amounts falling due within one year 6 (636,091) (506,018)
Net current assets 589,667 621,749
Total assets less current liabilities 629,273 674,524
Creditors: amounts falling due after more than one year 7 (23,662) (37,547)
Net assets 605,611 636,977
Capital and reserves
Called up share capital 200 200
Profit and loss account 605,411 636,777
Shareholders' funds 605,611 636,977
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 members have 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 Meiyun Wu
Director
Approved by the board on 17 October 2023
Shuang Yun Building Contractor Limited
Notes to the Accounts
for the year ended 31 January 2023
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 rendering of services which 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:
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 12
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 February 2022 4,320 61,689 66,009
At 31 January 2023 4,320 61,689 66,009
Depreciation
At 1 February 2022 3,750 9,584 13,334
Charge for the year 142 13,027 13,169
At 31 January 2023 3,892 22,611 26,503
Net book value
At 31 January 2023 428 39,078 39,506
At 31 January 2022 570 52,105 52,675
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 February 2022 100
At 31 January 2023 100
5 Debtors 2023 2022
£ £
Trade debtors 487,200 354,600
Amounts owed by group undertakings and undertakings in which the company has a participating interest 357,852 707,852
Other debtors 24,787 5,417
869,839 1,067,869
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 11,250
Trade creditors 51,614 38,378
Taxation and social security costs 7,520 27,387
Other creditors 566,957 429,003
636,091 506,018
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 23,662 37,547
8 Related party transactions
Included within amount owed by group undertakings are £81,982 (2022 - £431,982) due by Hongeran Properties Limited, £274,100 (2022 - £274,100) by Jinlimei Investments Limited and £1,770 (2022 - £1,770 ) by Young Deere Developments Limited. Hongeran Properties limited is a wholly-owned subsidiary of Shuang Yun Building Contractor Limited. Jinlimei Investments Limited and Young Deere Developments Limited are owned by Hongeran Properties Limited.
Included within other creditors are £526,964 (2022 - £429,003) due to the participators.
9 Other information
Shuang Yun Building Contractor Limited is a private company limited by shares and incorporated in England. Its registered office is:
1st Floor, 267 High Road
Leyton
London
E10 5QN
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