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Registration number: 10718482

Yue Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

Yue Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Yue Ltd

Company Information

Director

Mr Timothy Allan

Registered office

Unit A Trafalgar House
Juniper Drive
London
SW18 1GY

Accountants

IA Accountants
Chartered Accountants
9 Barlings Road
Harpenden
Herts
AL5 2AL

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Yue Ltd
for the Year Ended 30 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Yue Ltd for the year ended 30 April 2023 as set out on pages 3 to 9 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Yue Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Yue Ltd and state those matters that we have agreed to state to the Board of Directors of Yue Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Yue Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Yue Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Yue Ltd. You consider that Yue Ltd 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 accounts of Yue Ltd. 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 accounts.

......................................

IA Accountants
Chartered Accountants
9 Barlings Road
Harpenden
Herts
AL5 2AL

19 January 2024

 

Yue Ltd

(Registration number: 10718482)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

383

5,304

Tangible assets

5

2,452

38,542

 

2,835

43,846

Current assets

 

Stocks

2,200

2,200

Debtors

6

6,788

2,313

Cash at bank and in hand

 

3,618

5,948

 

12,606

10,461

Creditors: Amounts falling due within one year

7

(5,220)

(3,029)

Net current assets

 

7,386

7,432

Total assets less current liabilities

 

10,221

51,278

Creditors: Amounts falling due after more than one year

7

(510,463)

(475,120)

Net liabilities

 

(500,242)

(423,842)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(500,243)

(423,843)

Shareholders' deficit

 

(500,242)

(423,842)

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 January 2024
 

 

Yue Ltd

(Registration number: 10718482)
Balance Sheet as at 30 April 2023

.........................................
Mr Timothy Allan
Director

 

Yue Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit A Trafalgar House
Juniper Drive
London
SW18 1GY
England

These financial statements were authorised for issue by the director on 19 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Yue Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Asset class

Depreciation method and rate

Plant and Machinery

5 years straight line

Furniture, Fittings and Equipment

5 years straight line

Leasehold Improvements

5 years straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademarks and IP

5 years straight line

Website

5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Yue Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2022 - 13).

 

Yue Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 May 2022

24,587

24,587

At 30 April 2023

24,587

24,587

Amortisation

At 1 May 2022

19,283

19,283

Amortisation charge

4,921

4,921

At 30 April 2023

24,204

24,204

Carrying amount

At 30 April 2023

383

383

At 30 April 2022

5,304

5,304

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2022

90,913

89,534

180,447

At 30 April 2023

90,913

89,534

180,447

Depreciation

At 1 May 2022

87,141

67,052

154,193

Charge for the year

3,595

20,207

23,802

At 30 April 2023

90,736

87,259

177,995

Carrying amount

At 30 April 2023

177

2,275

2,452

At 30 April 2022

16,060

22,482

38,542

6

Debtors

 

Yue Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Current

2023
£

2022
£

Trade debtors

2,789

2,313

Other debtors

3,999

-

 

6,788

2,313

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

4,260

2,069

Accruals and deferred income

800

800

Other creditors

160

160

5,220

3,029

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

510,463

475,120

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

2,010

Other borrowings

510,463

473,110

510,463

475,120