1 February 2022 v2023.30.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP093823692022-02-012023-01-31093823692023-01-31093823692022-01-3109382369core:WithinOneYear2023-01-3109382369core:WithinOneYear2022-01-3109382369core:AfterOneYear2022-01-3109382369core:ShareCapital2023-01-3109382369core:ShareCapital2022-01-3109382369core:RetainedEarningsAccumulatedLosses2023-01-3109382369core:RetainedEarningsAccumulatedLosses2022-01-3109382369bus:Director12022-02-012023-01-3109382369bus:RegisteredOffice2022-02-012023-01-3109382369core:LandBuildings2022-02-012023-01-3109382369core:FurnitureFittings2022-02-012023-01-3109382369core:OfficeEquipment2022-02-012023-01-31093823692021-02-012022-01-3109382369core:LandBuildings2022-02-0109382369core:PlantMachinery2022-02-01093823692022-02-0109382369core:PlantMachinery2022-02-012023-01-3109382369core:LandBuildings2023-01-3109382369core:PlantMachinery2023-01-3109382369core:LandBuildings2022-01-3109382369core:PlantMachinery2022-01-310938236912022-02-012023-01-3109382369countries:EnglandWales2022-02-012023-01-3109382369bus:AuditExemptWithAccountantsReport2022-02-012023-01-3109382369bus:PrivateLimitedCompanyLtd2022-02-012023-01-3109382369bus:SmallEntities2022-02-012023-01-3109382369bus:FullAccounts2022-02-012023-01-31
Company registration number:
09382369
AYI Ltd
Unaudited Filleted Financial Statements for the year ended
31 January 2023
AYI Ltd
Statement of Financial Position
31 January 2023
20232022
Note££
Fixed assets    
Tangible assets 5
165,650
 
127,258
 
Current assets    
Stocks
22,769
 
22,769
 
Debtors 6
4
  -  
Cash at bank and in hand
29,243
 
20,144
 
52,016
 
42,913
 
Creditors: amounts falling due within one year 7
(573,357
)
(484,251
)
Net current liabilities
(521,341
)
(441,338
)
Total assets less current liabilities (355,691 ) (314,080 )
Creditors: amounts falling due after more than one year 8 -  
(33,393
)
Net liabilities
(355,691
)
(347,473
)
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
(355,791
)
(347,573
)
Shareholders deficit
(355,691
)
(347,473
)
For the year ending
31 January 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
30 November 2023
, and are signed on behalf of the board by:
Ms Zhixin Luan
Director
Company registration number:
09382369
AYI Ltd
Notes to the Financial Statements
Year ended
31 January 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
36 Palladian Gardens
,
Chiswick Gate
,
London
,
England
,
W4 2ER
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

These financial statements have been prepared on the going concern basis, as adequate cash resources will be made available to cover the Company's requirements by the directors, for at least the next twelve months.

Turnover

Revenue represents amounts received or receivable for goos and services provided in the normal course of business, net of discounts and Value Added Tax. Revenue is recognised at the point of delivery of goods and services to customers.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Over the leased period commencing when the property become commercially operational.
Fixtures and fittings
25% straight line
Office equipment
25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
3
(2022:
3.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 February 2022
235,014
 
11,583
 
246,597
 
Additions -  
58,620
 
58,620
 
At
31 January 2023
235,014
 
70,203
 
305,217
 
Depreciation      
At
1 February 2022
110,199
 
9,140
 
119,339
 
Charge
19,707
 
521
 
20,228
 
At
31 January 2023
129,906
 
9,661
 
139,567
 
Carrying amount      
At
31 January 2023
105,108
 
60,542
 
165,650
 
At 31 January 2022
124,815
 
2,443
 
127,258
 

6 Debtors

20232022
££
Trade debtors
4
  -  

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts -  
9,999
 
Trade creditors
47,687
 
613
 
Taxation and social security
21,147
 
4,139
 
Other creditors
504,523
 
469,500
 
573,357
 
484,251
 
Included in other creditors is a bank loan amounting to £nil (2022: £9,999) which is payable within one year. This is an unsecured loan repayable by instalments, details refer to Note 9.

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts -  
33,393
 
The company obtained a loan which is unsecured and repayable by 60 monthly instalments commencing July 2021.
The loan falling due after more than one year is £nil (2022: £33,393).

9 Guarantees and other financial commitments

Included in Creditors is a government backed business loan of nil (2021: £43,392). The loan amount which is due for repayment within one year is £nil (2022: £9,999), fall due between two and five years is £nil (2021: £33,393).

11 Controlling party

The ultimate controlling party of the company is Tianlong Zhao, who is the shareholder of the company.