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REGISTERED NUMBER: SC135610 (Scotland)











Financial Statements

for the Year Ended 31 May 2023

for

Yeung's Chinese Foods Limited

Yeung's Chinese Foods Limited (Registered number: SC135610)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Yeung's Chinese Foods Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: TJ Rigby
A Rigby
Mrs S Rigby





REGISTERED OFFICE: Block 12 Dundyvan Industrial Estate
Souterhouse Path
Coatbridge
Lanarkshire
ML5 4AQ





REGISTERED NUMBER: SC135610 (Scotland)





AUDITORS: Horsfield & Smith
Tower House
269 Walmersley Road
Bury
Lancashire
BL9 6NX

Yeung's Chinese Foods Limited (Registered number: SC135610)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 440,932 492,907

CURRENT ASSETS
Stocks 168,316 100,448
Debtors 5 1,133,386 1,105,450
Cash at bank and in hand 551,008 309,382
1,852,710 1,515,280
CREDITORS
Amounts falling due within one year 6 255,540 125,744
NET CURRENT ASSETS 1,597,170 1,389,536
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,038,102

1,882,443

PROVISIONS FOR LIABILITIES 58,328 53,045
NET ASSETS 1,979,774 1,829,398

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 1,974,774 1,824,398
1,979,774 1,829,398

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:





TJ Rigby - Director


Yeung's Chinese Foods Limited (Registered number: SC135610)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Yeung's Chinese Foods Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Yeung's Chinese Foods Limited (Registered number: SC135610)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 296,482 575,971 872,453
DEPRECIATION
At 1 June 2022 85,337 294,209 379,546
Charge for year 5,946 46,029 51,975
At 31 May 2023 91,283 340,238 431,521
NET BOOK VALUE
At 31 May 2023 205,199 235,733 440,932
At 31 May 2022 211,145 281,762 492,907

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 137,636 167,770
Amounts owed by group undertakings 981,690 923,260
Other debtors 14,060 14,420
1,133,386 1,105,450

Yeung's Chinese Foods Limited (Registered number: SC135610)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 93,609 65,663
Amounts owed to participating interests 65,032 -
Taxation and social security 70,968 32,779
Other creditors 25,931 27,302
255,540 125,744

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Peter Nicol BSc FCA (Senior Statutory Auditor)
for and on behalf of Horsfield & Smith