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REGISTERED NUMBER: 04513705 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024

FOR

YUNGNIEN LIMITED

YUNGNIEN LIMITED (REGISTERED NUMBER: 04513705)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


YUNGNIEN LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024







DIRECTORS: Mrs K Choi
Mr G Choi



REGISTERED OFFICE: 4 Farnham Close
Barrow In Furness
Cumbria
LA13 0GP



REGISTERED NUMBER: 04513705 (England and Wales)



BANKERS: Barclays Bank plc
Leicestershire
LE87 2BB

YUNGNIEN LIMITED (REGISTERED NUMBER: 04513705)

ABRIDGED BALANCE SHEET
31 MARCH 2024

31.3.24 30.9.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 439,563 35,380
Investment property 5 45,000 405,988
484,563 441,368

CURRENT ASSETS
Debtors 3,716 3,027
Cash at bank 13,311 26,740
17,027 29,767
CREDITORS
Amounts falling due within one year 53,029 12,374
NET CURRENT (LIABILITIES)/ASSETS (36,002 ) 17,393
TOTAL ASSETS LESS CURRENT
LIABILITIES

448,561

458,761

CREDITORS
Amounts falling due after more than one
year

(400,000

)

(440,000

)

PROVISIONS FOR LIABILITIES (1,560 ) -
NET ASSETS 47,001 18,761

CAPITAL AND RESERVES
Called up share capital 6 100 100
Non-distributable reserve 6,653 -
Retained earnings 40,248 18,661
SHAREHOLDERS' FUNDS 47,001 18,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

YUNGNIEN LIMITED (REGISTERED NUMBER: 04513705)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by:





Mr G Choi - Director


YUNGNIEN LIMITED (REGISTERED NUMBER: 04513705)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Yungnien Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The accounts have been prepared on a going concern basis, the directors having agreed to continue to support the company by retaining their loan to the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 10% on cost

Investment property
Investment properties are initially measured at cost and subsequently at fair value with any change in value recognised in the profit and loss account.

Depreciation is not provided in respect of investment properties.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

Rents received
Rents received are included in turnover and are calculated on the accruals basis and represents net rental income, excluding VAT.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

YUNGNIEN LIMITED (REGISTERED NUMBER: 04513705)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022 77,792
Disposals (7,430 )
Reclassification/transfer 369,201
At 31 March 2024 439,563
DEPRECIATION
At 1 October 2022 42,412
Eliminated on disposal (7,064 )
Reversal of impairments (35,348 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 439,563
At 30 September 2022 35,380

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 405,988
Revaluations 8,213
Reclassification/transfer (369,201 )
At 31 March 2024 45,000
NET BOOK VALUE
At 31 March 2024 45,000
At 30 September 2022 405,988

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 8,213
Cost 36,787
45,000

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 30.9.22
value: as restated
£    £   
100 Ordinary £1 100 100

YUNGNIEN LIMITED (REGISTERED NUMBER: 04513705)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024

7. RELATED PARTY DISCLOSURES

At 31 March 2024, Mr and Mrs G Choi, directors of the company had on an unsecured basis advanced £ 424,555 (2022: £447,000) to the company at 4% interest.. The directors have confirmed that they consider a minimum of £350,000 to be a long term investment in the company's operations and do not intend to withdraw this portion in the near future.

Interest on the Directors' loan account for the period to 31 March 2024 is £25,474 (2022: £16,866).

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs G Choi.