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COMPANY REGISTRATION NUMBER: 12127832
YLNK Limited
Filleted Unaudited Financial Statements
31 July 2023
YLNK Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
Current assets
Stocks
1,900
1,800
Debtors
5
2,056
3,631
Cash at bank and in hand
23,118
23,909
--------
--------
27,074
29,340
Creditors: amounts falling due within one year
6
14,066
12,037
--------
--------
Net current assets
13,008
17,303
--------
--------
Total assets less current liabilities
13,008
17,303
--------
--------
Net assets
13,008
17,303
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
12,908
17,203
--------
--------
Shareholders funds
13,008
17,303
--------
--------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 April 2024 , and are signed on behalf of the board by:
Mr Coc Duong
Director
Company registration number: 12127832
YLNK Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 138 Berkley Close, Colchester, Essex, CO4 9RR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
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 stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Debtors
2023
2022
£
£
Other debtors
2,056
3,631
-------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,366
Corporation tax
2,877
2,584
Social security and other taxes
5,287
3,617
Other creditors
5,902
4,470
--------
--------
14,066
12,037
--------
--------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr Coc Duong
2,056
2,056
-------
----
-------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr Coc Duong
100
1,956
2,056
----
-------
-------
The terms of the director loan is interest free, unsecured and repayable on demand.