Company Registration No. 08151574 (England and Wales)
YUYU Designs Limited
Unaudited accounts
for the year ended 31 March 2023
YUYU Designs Limited
Unaudited accounts
Contents
YUYU Designs Limited
Company Information
for the year ended 31 March 2023
Company Number
08151574 (England and Wales)
Registered Office
Lynton House
7-12 Tavistock Square
London
Surrey
WC1H 9LT
United Kingdom
Accountants
Miss D Griffin MAAT
110 Croydon Road
Beddington
Surrey
CR0 4PF
YUYU Designs Limited
Accountants' report
Accountants' report to the director of YUYU Designs Limited (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2023.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 March 2023. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Miss D Griffin MAAT
110 Croydon Road
Beddington
Surrey
CR0 4PF
31 December 2023
YUYU Designs Limited
Statement of financial position
as at 31 March 2023
Tangible assets
16,276
19,961
Inventories
119,872
263,482
Cash at bank and in hand
147,363
160,372
Creditors: amounts falling due within one year
(271,622)
(492,788)
Net current assets
388,668
388,786
Total assets less current liabilities
404,944
408,747
Provisions for liabilities
Net assets
404,796
404,954
Called up share capital
1,000
1,000
Profit and loss account
403,796
403,954
Shareholders' funds
404,796
404,954
For the year ending 31 March 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 director acknowledges his 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 and authorised for issue on 31 December 2023 and were signed on its behalf by
Richard Yu
Director
Company Registration No. 08151574
YUYU Designs Limited
Notes to the Accounts
for the year ended 31 March 2023
YUYU Designs Limited is a private company, limited by shares, registered in England and Wales, registration number 08151574. The registered office is Lynton House, 7-12 Tavistock Square, London, Surrey, WC1H 9LT, United Kingdom.
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 financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The accounts are presented in £ sterling.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services 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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
YUYU Designs Limited
Notes to the Accounts
for the year ended 31 March 2023
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 assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% reducing balance
Computer equipment
25% Straight Line
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
24,656
16,716
41,372
At 31 March 2023
24,656
17,213
41,869
At 1 April 2022
11,241
10,170
21,411
Charge for the year
1,341
2,841
4,182
At 31 March 2023
12,582
13,011
25,593
At 31 March 2023
12,074
4,202
16,276
At 31 March 2022
13,415
6,546
19,961
Amounts falling due within one year
Trade debtors
173,488
185,765
Accrued income and prepayments
162,825
265,787
Other debtors
56,742
6,168
YUYU Designs Limited
Notes to the Accounts
for the year ended 31 March 2023
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
97,998
104,924
Taxes and social security
15,616
9,667
Other creditors
1,027
7,943
Loans from directors
122,746
120,429
7
Transactions with related parties
At the year end, included within creditors falling due under one year were amounts due to a director amounting to £122,745 (2022 - £120,429)
8
Average number of employees
During the year the average number of employees was 6 (2022: 6).