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REGISTERED NUMBER: 01975394 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

DEYONGS LIMITED

DEYONGS LIMITED (REGISTERED NUMBER: 01975394)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DEYONGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr M C Deyong
Mr O M Deyong
Mr D S Deyong
Mr S L Cook





SECRETARY: Mrs H J Deyong





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 01975394 (England and Wales)





ACCOUNTANTS: MGR Weston Kay LLP
55 Loudoun Road
London
NW8 0DL

DEYONGS LIMITED (REGISTERED NUMBER: 01975394)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,760 -
Tangible assets 5 79,445 97,969
81,205 97,969

CURRENT ASSETS
Stocks 2,902,979 2,052,036
Debtors 6 1,757,416 1,751,972
Cash in hand 450 450
4,660,845 3,804,458
CREDITORS
Amounts falling due within one year 7 (3,959,694 ) (3,223,260 )
NET CURRENT ASSETS 701,151 581,198
TOTAL ASSETS LESS CURRENT
LIABILITIES

782,356

679,167

CREDITORS
Amounts falling due after more than one
year

8

(89,321

)

(138,911

)
NET ASSETS 693,035 540,256

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Capital redemption reserve 1,500 1,500
Retained earnings 666,535 513,756
SHAREHOLDERS' FUNDS 693,035 540,256

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

DEYONGS LIMITED (REGISTERED NUMBER: 01975394)

BALANCE SHEET - continued
30 APRIL 2024


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 29 July 2024 and were signed on its behalf by:





Mr M C Deyong - Director


DEYONGS LIMITED (REGISTERED NUMBER: 01975394)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Deyongs 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.

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 represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - evenly over the period of the lease
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

DEYONGS LIMITED (REGISTERED NUMBER: 01975394)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 24 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 1,760
At 30 April 2024 1,760
NET BOOK VALUE
At 30 April 2024 1,760

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 66,747 299,341 22,763 388,851
Additions - 11,125 - 11,125
Disposals - - (22,763 ) (22,763 )
At 30 April 2024 66,747 310,466 - 377,213
DEPRECIATION
At 1 May 2023 60,440 211,732 18,710 290,882
Charge for year 912 24,684 - 25,596
Eliminated on disposal - - (18,710 ) (18,710 )
At 30 April 2024 61,352 236,416 - 297,768
NET BOOK VALUE
At 30 April 2024 5,395 74,050 - 79,445
At 30 April 2023 6,307 87,609 4,053 97,969

DEYONGS LIMITED (REGISTERED NUMBER: 01975394)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 22,763
Disposals (22,763 )
At 30 April 2024 -
DEPRECIATION
At 1 May 2023 18,710
Eliminated on disposal (18,710 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 4,053

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 1,657,795 1,610,264
Other debtors 99,621 141,708
1,757,416 1,751,972

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 1,423,184 1,533,646
Trade creditors 2,135,647 1,278,430
Taxation and social security 312,256 320,594
Other creditors 88,607 90,590
3,959,694 3,223,260

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 89,321 138,911

DEYONGS LIMITED (REGISTERED NUMBER: 01975394)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.24 30.4.23
£    £   
Within one year 129,987 129,987
Between one and five years 519,948 519,948
In more than five years 64,994 194,981
714,929 844,916

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank borrowings 1,375,328 1,489,293

A debenture, incorporating a fixed and floating charge, has been granted in favour of the bank over the current assets of the company. There is a further debenture to cover overseas trade creditors for £968,907 (2023 £898,062).

11. PENSION COMMITMENTS

The company makes payments to a defined contribution scheme on behalf of the directors and employees. The amount charged to the profit and loss account during the year under review was £44,830 (2023: £38,202). There were outstanding employer contributions of £14,873 (2023:£6,536) outstanding at the balance sheet date.