Company Registration No. 03705198 (England and Wales)
Ying Tian Company Limited
Unaudited accounts
for the year ended 31 July 2023
Ying Tian Company Limited
Unaudited accounts
Contents
Ying Tian Company Limited
Statement of financial position
as at 31 July 2023
Tangible assets
1,240,932
1,241,242
Cash at bank and in hand
78,008
76,751
Creditors: amounts falling due within one year
(7,215)
(8,279)
Net current assets
167,220
149,547
Total assets less current liabilities
1,408,152
1,390,789
Creditors: amounts falling due after more than one year
(444,588)
(444,717)
Provisions for liabilities
Deferred tax
(120,412)
(120,471)
Net assets
843,152
825,601
Called up share capital
2
2
Revaluation reserve
512,582
512,582
Profit and loss account
330,568
313,017
Shareholders' funds
843,152
825,601
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2023 and were signed on its behalf by
Mrs De Ming Fung
Director
Company Registration No. 03705198
Ying Tian Company Limited
Notes to the Accounts
for the year ended 31 July 2023
Ying Tian Company Limited is a private company, limited by shares, registered in England and Wales, registration number 03705198. The registered office is 12A Lake Close, London, SW19 7EG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Turnover represents the total amount receivable by the company in the ordinary course of business.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset, in accordance with FRS 102.
Deferred tax assets and liabilities are not discounted.
Certain comparative figures have been reclassified to conform to the current year's presentation.
Ying Tian Company Limited
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2022
1,240,000
6,877
7,381
1,254,258
At 31 July 2023
1,240,000
6,877
7,381
1,254,258
At 1 August 2022
-
6,717
6,299
13,016
Charge for the year
-
40
270
310
At 31 July 2023
-
6,757
6,569
13,326
At 31 July 2023
1,240,000
120
812
1,240,932
At 31 July 2022
1,240,000
160
1,082
1,241,242
The carrying amount of the land and buildings is a valuation provided by the directors in 2016.
Amounts falling due within one year
Accrued income and prepayments
1,496
1,297
6
Investments held as current assets
2023
2022
Listed investments
85,806
70,653
Unlisted investments
9,125
9,125
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
5,115
6,299
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
384,250
384,250
Other creditors
60,338
60,467
Included in the creditors amounts falling due after more than one year are loans from directors of £60,338 (2022: £60,466), which are interest-free and no term of repayment have been arranged.
Ying Tian Company Limited
Notes to the Accounts
for the year ended 31 July 2023
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).