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Registered number: 12169213














YJP INTERNATIONAL LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
YJP INTERNATIONAL LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
YJP INTERNATIONAL LIMITED
REGISTERED NUMBER:12169213

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
40,022
53,616

Investments
 5 
2,942,888
2,200,146

Investment property
 6 
1,620,000
1,899,508

  
4,602,910
4,153,270

Current assets
  

Debtors: amounts falling due within one year
 7 
38,385
50,201

Current asset investments
 8 
4,269,674
4,480,782

Cash at bank and in hand
 9 
20,553
71,613

  
4,328,612
4,602,596

Creditors: amounts falling due within one year
 10 
(8,138,973)
(7,578,407)

Net current liabilities
  
 
 
(3,810,361)
 
 
(2,975,811)

Total assets less current liabilities
  
792,549
1,177,459

Creditors: amounts falling due after more than one year
 11 
(847,417)
(896,417)

  

Net (liabilities)/assets
  
(54,868)
281,042


Capital and reserves
  

Called up share capital 
 14 
1,000
1,000

Profit and loss account
  
(55,868)
280,042

  
(54,868)
281,042


1

 
YJP INTERNATIONAL LIMITED
REGISTERED NUMBER:12169213
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 September 2024.




J H Park
Director

The notes on pages 3 to 9 form part of these financial statements.

2

 
YJP INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

YJP International Limited is a private company, limited by shares, registered in England and Wales, registration number 12169213. The registered office is 116 Silverdale Avenue, Walton-On-Thames, Surrey, KT12 1EQ.
The principal activity of the company is management of real estate, investment and dealing in venture and development capital companies.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the directors have received confirmation from connected parties, which make up the significant majority of the company’s creditors, have indicated their willingness to continue their support to enable the company to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the directors are satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

3

 
YJP INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

4

 
YJP INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

 Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

 Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.12

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and  other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 2).

5

 
YJP INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
66,090
5,399
71,489


Additions
-
5,705
5,705



At 31 December 2023

66,090
11,104
77,194



Depreciation


At 1 January 2023
16,523
1,350
17,873


Charge for the year
16,523
2,776
19,299



At 31 December 2023

33,046
4,126
37,172



Net book value



At 31 December 2023
33,044
6,978
40,022



At 31 December 2022
49,567
4,049
53,616


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2023
2,220,146


Foreign exchange movement
742,742



At 31 December 2023

2,962,888



Impairment


At 1 January 2023
20,000



At 31 December 2023

20,000



Net book value



At 31 December 2023
2,942,888

6

 
YJP INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
1,899,508


Deficit on revaluation
(279,508)



At 31 December 2023
1,620,000

The 2023 valuations were made on an open market value for existing use basis.






7.


Debtors

As restated
2023
2022
£
£


Other debtors
32,000
4,586

Prepayments and accrued income
6,385
45,615

38,385
50,201



8.


Current asset investments

2023
2022
£
£

Listed investments
743,581
278,165

Unlisted investments
3,526,093
4,202,617

4,269,674
4,480,782



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
20,553
71,613


7

 
YJP INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
50,000
50,000

Trade creditors
4,080
1,200

Corporation tax
-
42,456

Other taxation and social security
8,006
-

Other creditors
8,016,361
7,434,348

Accruals and deferred income
60,526
50,403

8,138,973
7,578,407


The loan is secured by a fixed and floating charge over the property held by the company.


11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
847,417
896,417


The loan is secured by a fixed and floating charge over the property held by the company.


12.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
50,000
50,000

Amounts falling due 1-2 years

Bank loans
50,000
50,000

Amounts falling due 2-5 years

Bank loans
797,417
846,417


897,417
946,417


8

 
YJP INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Deferred taxation

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(10,006)
-

Tax losses carried forward
10,006
-

-
-


14.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 Ordinary shares of £1.00 each
1,000
1,000



15.


Prior year adjustment

As at the year end 31 December 2022, the prior year group balances was reclassified to other debtors.


16.


Related party transactions

Included within other creditors at the year end is £801,651 (2022 - £216,959) due to the directors. The loans are interest free and repayable on demand.
Included within other creditors at the year end is £7,214,711 (2022 - £7,217,389) due to a connected entity. The loan is interest free and repayable on demand.

 
9