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Registered Number: 09001851
England and Wales

 

 

 

YU AND SUN LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Yu and Sun Limited for the year ended 31 May 2023 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of Yu and Sun Limited, as a body, in accordance with the terms of our engagement letter dated 17 April 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Yu and Sun Limited and state those matters that we have agreed to state to the Board of Directors of Yu and Sun Limited, as a body, in this report in accordance with AAF 2/10 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Yu and Sun Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Yu and Sun Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Yu and Sun Limited. You consider that Yu and Sun Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Yu and Sun Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.



....................................................
P and Co (Partners) LLP
18 Ensign Street
London
E1 8PA
13 February 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 6,349    4,887 
6,349    4,887 
Current assets      
Stocks 4 7,661    6,716 
Debtors: amounts falling due within one year 5 429    20,967 
Cash at bank and in hand 172,984    169,614 
181,074    197,297 
Creditors: amount falling due within one year 6 (59,502)   (29,192)
Net current assets 121,572    168,105 
 
Total assets less current liabilities 127,921    172,992 
Provisions for liabilities 7 (61,587)   (80,929)
Net assets 66,334    92,063 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account 65,334    91,063 
Shareholder's funds 66,334    92,063 
 


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 12 February 2024 and were signed by:


-------------------------------
Mr Hangyu Guan
Director
2
General Information
Yu and Sun Limited is a private company, limited by shares, registered in England and Wales, registration number 09001851, registration address 2-4 Bedford Road, Great Barford, Bedford, MK44 3JD.

The presentation currency is £ sterling
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 14 (2022 : 15).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 June 2022 11,339    11,339 
Additions 3,292    3,292 
Disposals  
At 31 May 2023 14,631    14,631 
Depreciation
At 01 June 2022 6,452    6,452 
Charge for year 1,830    1,830 
On disposals  
At 31 May 2023 8,282    8,282 
Net book values
Closing balance as at 31 May 2023 6,349    6,349 
Opening balance as at 01 June 2022 4,887    4,887 


4.

Stocks

2023
£
  2022
£
Finished Goods 7,661    6,716 
7,661    6,716 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 429   
VAT   20,967 
429    20,967 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 2,504    2,196 
Corporation Tax 10,554    14,042 
PAYE & Social Security 675    816 
Accrued Expenses 5,683    4,348 
Directors' Current Accounts 7,550    7,790 
VAT 32,536   
59,502    29,192 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 1,587    929 
Pension Provisions 60,000    80,000 
61,587    80,929 

3