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Company registration number: 13998243
JY House London Ltd
Unaudited filleted financial statements
31 March 2023
JY House London Ltd
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
JY House London Ltd
Directors and other information
Directors Ms Lu Chang (Appointed 23 March 2022)
Mr Shi Liu (Appointed 28 November 2022)
Company number 13998243
Registered office 5 Calico Row
Plantation Wharf
London
SW11 3YH
Business address 9 - 10 Avery Row
London
W1K 4AL
Accountant Reza Samii Chartered Accountants
19 Cornerways
1 Daylesford Avenue
London
SW15 5QP
JY House London Ltd
Chartered accountant's report to the board of directors on the preparation of the
unaudited statutory financial statements of JY House London Ltd
Period ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of JY House London Ltd for the period ended 31 March 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
My work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Reza Samii Chartered Accountants
19 Cornerways
1 Daylesford Avenue
London
SW15 5QP
14 March 2024
JY House London Ltd
Statement of financial position
31 March 2023
31/03/23
Note £ £
Fixed assets
Tangible assets 5 70,301
_______
70,301
Current assets
Stocks 73,014
Debtors 6 54,087
Cash at bank and in hand 2,008
_______
129,109
Creditors: amounts falling due
within one year 7 ( 281,547)
_______
Net current liabilities ( 152,438)
_______
Total assets less current liabilities ( 82,137)
_______
Net liabilities ( 82,137)
_______
Capital and reserves
Called up share capital 100
Profit and loss account ( 82,237)
_______
Shareholders deficit ( 82,137)
_______
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 14 March 2024 , and are signed on behalf of the board by:
Ms Lu Chang Mr Shi Liu
Director Director
Company registration number: 13998243
JY House London Ltd
Statement of changes in equity
Period ended 31 March 2023
Called up share capital Profit and loss account Total
£ £ £
At 23 March 2022 - - -
Loss for the period ( 82,237) ( 82,237)
_______ _______ _______
Total comprehensive income for the period - ( 82,237) ( 82,237)
Issue of shares 100 100
_______ _______ _______
Total investments by and distributions to owners 100 - 100
_______ _______ _______
At 31 March 2023 100 ( 82,237) ( 82,137)
_______ _______ _______
JY House London Ltd
Notes to the financial statements
Period ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 5 Calico Row, Plantation Wharf, London, SW11 3YH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer and office equipment - 20 % straight line
Furniture, fixtures and fittings - 20 % straight line
Leasehold improvements - Over the term of the lease
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 3
5. Tangible assets
Computer & office equipment Furniture, fixtures & fittings Leasehold improvements Total
£ £ £ £
Cost
At 23 March 2022 - - - -
Additions 1,919 14,065 62,177 78,161
_______ _______ _______ _______
At 31 March 2023 1,919 14,065 62,177 78,161
_______ _______ _______ _______
Depreciation
At 23 March 2022 - - - -
Charge for the year 384 2,813 4,663 7,860
_______ _______ _______ _______
At 31 March 2023 384 2,813 4,663 7,860
_______ _______ _______ _______
Carrying amount
At 31 March 2023 1,535 11,252 57,514 70,301
_______ _______ _______ _______
6. Debtors
31/03/23
£
Other debtors 54,087
_______
Included in other debtors is a rent deposit of £30,000.
7. Creditors: amounts falling due within one year
31/03/23
£
Trade creditors 1,392
Other creditors 280,155
_______
281,547
_______
The directors' loans ae unsecured and interest free and subordinated to all other creditors.
8. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 31/03/23
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Ms Lu Chang - ( 156,896) ( 156,896)
Mr Shi Liu - ( 94,290) ( 94,290)
_______ _______ _______
- ( 251,186) ( 251,186)
_______ _______ _______
9. Controlling party
The company was controlled throughout the current period by its two directors.
10. Financial Position
The accounts have been prepared on going concern basis as the company's directors and shareholders who are also its significant creditors, have undertaken until sufficient income is generated by the company, to continue with their financial support to enable the company to operate as a going concern.