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Registration number: 13597789

HYEJOO LTD

Unaudited Filleted Financial Statements

for the Period from 1 September 2021 to 30 September 2022

 

HYEJOO LTD

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

HYEJOO LTD

Company Information

Director

Mr SM Ham

Registered office

Flat 308 Hewitt
40 Alfred Street
Reading
RG1 7LS

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Bucks
SL8 5TD

 

HYEJOO LTD

(Registration number: 13597789)
Balance Sheet as at 30 September 2022

Note

2022
£

Fixed assets

 

Investment property

4

428,873

Current assets

 

Debtors

5

3,249

Cash at bank and in hand

 

41

 

3,290

Creditors: Amounts falling due within one year

6

(142,064)

Net current liabilities

 

(138,774)

Total assets less current liabilities

 

290,099

Creditors: Amounts falling due after more than one year

6

(303,750)

Net liabilities

 

(13,651)

Capital and reserves

 

Called up share capital

100

Retained earnings

(13,751)

Shareholders' deficit

 

(13,651)

For the financial period ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 November 2023
 

.........................................
Mr SM Ham
Director

 

HYEJOO LTD

Notes to the Unaudited Financial Statements for the Period from 1 September 2021 to 30 September 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Flat 308 Hewitt
40 Alfred Street
Reading
RG1 7LS

These financial statements were authorised for issue by the director on 8 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The director and owner of the company has undertaken to provide financial support for at least twelve months from the date of approval of these financial statements. The director has considered future cash requirements and financial commitment and considers it appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

HYEJOO LTD

Notes to the Unaudited Financial Statements for the Period from 1 September 2021 to 30 September 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

HYEJOO LTD

Notes to the Unaudited Financial Statements for the Period from 1 September 2021 to 30 September 2022

4

Investment properties

2022
£

Additions

428,873

At 30 September

428,873

The investment property was valued on an open market basis on the 30 September 2022 by the director of the company.

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2022
£

Prepayments

3,158

Other debtors

91

 

3,249

 

HYEJOO LTD

Notes to the Unaudited Financial Statements for the Period from 1 September 2021 to 30 September 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

Due within one year

 

Amounts owed to related party

8

89,744

Accruals and deferred income

 

2,420

Other creditors

 

49,900

 

142,064

Creditors: amounts falling due after more than one year

Note

2022
£

Due after one year

 

Loans and borrowings

7

303,750

7

Loans and borrowings

2022
£

Non-current loans and borrowings

Other borrowings

303,750

Other borrowings

Other borrowings is an interest only buy to let mortage which is secured on a charge over the investment property of the company.

 

HYEJOO LTD

Notes to the Unaudited Financial Statements for the Period from 1 September 2021 to 30 September 2022

8

Related party transactions

Loans from related parties

2022

Other related parties
£

Total
£

Advanced

89,744

89,744

At end of period

89,744

89,744

Terms of loans from related parties

The loan is unsecured, interest fee and repayable on demand.