2022-12-012023-11-302023-11-30false06751747YEE INVENTIONS 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YEE INVENTIONS LTD

Registered Number
06751747
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

YEE INVENTIONS LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

NG, Phildel Hoi Yee

Registered Address

Studio 4 224 Shoreditch High Street
London
E1 6PJ

Registered Number

06751747 (England and Wales)
YEE INVENTIONS LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors1,7071,206
Cash at bank and on hand34,90629,531
36,61330,737
Creditors amounts falling due within one year4(23,675)(30,039)
Net current assets (liabilities)12,938698
Total assets less current liabilities12,938698
Net assets12,938698
Capital and reserves
Called up share capital100100
Profit and loss account12,838598
Shareholders' funds12,938698
The financial statements were approved and authorised for issue by the Director on 19 August 2024, and are signed on its behalf by:
NG, Phildel Hoi Yee
Director
Registered Company No. 06751747
YEE INVENTIONS LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 December 2220,54020,540
At 30 November 2320,54020,540
Depreciation and impairment
At 01 December 2220,54020,540
At 30 November 2320,54020,540
Net book value
At 30 November 23--
At 30 November 22--
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,4523,565
Taxation and social security4,070284
Other creditors16,98425,020
Accrued liabilities and deferred income1,1691,170
Total23,67530,039