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Yung Properties Ltd

Unaudited Financial Statements for the Year Ended 30 November 2023






Yung Properties Ltd (Registered number: 11700333)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Yung Properties Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mrs H E M Yung
M Yung





REGISTERED OFFICE: 48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG





REGISTERED NUMBER: 11700333 (England and Wales)





ACCOUNTANTS: Matthews Sutton & Co Ltd
Chartered Certified Accountants
48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG

Yung Properties Ltd (Registered number: 11700333)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 131 163
Investment property 5 1,080,000 501,437
1,080,131 501,600

CURRENT ASSETS
Cash at bank and in hand 155,227 161,149

CREDITORS
Amounts falling due within one year 6 592,946 576,104
NET CURRENT LIABILITIES (437,719 ) (414,955 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

642,412

86,645

PROVISIONS FOR LIABILITIES 136,033 -
NET ASSETS 506,379 86,645

CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 7 408,024 -
Retained earnings 98,345 86,635
506,379 86,645

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Yung Properties Ltd (Registered number: 11700333)

Balance Sheet - continued
30 November 2023


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 12 August 2024 and were signed on its behalf by:





Mrs H E M Yung - Director


Yung Properties Ltd (Registered number: 11700333)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Yung Properties Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

Yung Properties Ltd (Registered number: 11700333)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 399
DEPRECIATION
At 1 December 2022 236
Charge for year 32
At 30 November 2023 268
NET BOOK VALUE
At 30 November 2023 131
At 30 November 2022 163

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 501,437
Additions 34,531
Revaluations 544,032
At 30 November 2023 1,080,000
NET BOOK VALUE
At 30 November 2023 1,080,000
At 30 November 2022 501,437

Investment properties were valued using market data by the director on the 30 November 2023.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 377
Taxation and social security 2,760 4,615
Other creditors 590,186 571,112
592,946 576,104

7. RESERVES
Fair
value
reserve
£   
Fair value reserve 408,024

At 30 November 2023 408,024