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REGISTERED NUMBER: 06336787 (England and Wales)



































Unaudited Financial Statements

for the Year Ended 31 December 2023

for

YUPELET LTD

YUPELET LTD (REGISTERED NUMBER: 06336787)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


YUPELET LTD

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Jason Christopher Coleman





REGISTERED OFFICE: Cleveland House
1-10 Sitwell Street
KINGSTON UPON HULL
East Yorkshire
HU8 7BE





REGISTERED NUMBER: 06336787 (England and Wales)





ACCOUNTANTS: G & C Professionals Limited
trading as Graham & Company
Chartered Certified Accountants
Cleveland House
1-10 Sitwell Street
KINGSTON UPON HULL
East Yorkshire
HU8 7BE

YUPELET LTD (REGISTERED NUMBER: 06336787)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,281,828 2,281,828

CURRENT ASSETS
Debtors 5 321,222 308,126
Cash at bank 6,701 31,561
327,923 339,687
CREDITORS
Amounts falling due within one year 6 33,899 41,984
NET CURRENT ASSETS 294,024 297,703
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,575,852

2,579,531

CREDITORS
Amounts falling due after more than one
year

7

2,226,390

2,227,254
NET ASSETS 349,462 352,277

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 349,362 352,177
SHAREHOLDERS' FUNDS 349,462 352,277

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

YUPELET LTD (REGISTERED NUMBER: 06336787)

Balance Sheet - continued
31 December 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 director and authorised for issue on 17 September 2024 and were signed by:





Jason Christopher Coleman - Director


YUPELET LTD (REGISTERED NUMBER: 06336787)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

YUPELET 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.

Turnover
Turnover represents net invoiced sales of goods and services, 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.
Freehold property - not provided
Long leasehold - not provided
Fixtures and fittings - 20% on reducing balance

Investment properties and their contents are reviewed on an annual basis and revalued, where appropriate, so that they are shown on the balance sheet at their open market value. The valuations are carried out by the company's director. In accordance with Statement of Standard Accounting Practice Number 19, depreciation is only provided in respect of a permanent fall in the value of the company's investment assets . These assets are held for their investment potential and the director considers that the adoption of this policy is necessary in order to give a true and fair view.

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.

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.

YUPELET LTD (REGISTERED NUMBER: 06336787)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and
property leasehold fittings Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 1,938,322 323,506 90,163 2,351,991
DEPRECIATION
At 1 January 2023
and 31 December 2023 - - 70,163 70,163
NET BOOK VALUE
At 31 December 2023 1,938,322 323,506 20,000 2,281,828
At 31 December 2022 1,938,322 323,506 20,000 2,281,828

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,073 1,783
Other debtors 312,270 299,217
Prepayments 7,879 7,126
321,222 308,126

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 10,000 10,000
Trade creditors 11,903 13,962
Corporation tax - 5,094
Social security and other taxes 8 -
Other creditors 3,417 5,138
Accrued expenses 8,571 7,790
33,899 41,984

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 19,097 28,889
Other loans (see note 8) 2,207,293 2,198,365
2,226,390 2,227,254

YUPELET LTD (REGISTERED NUMBER: 06336787)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Property mortgages 2,207,293 2,198,365

Other loans relate to funds provided by the director and his associates to finance initial property purchase and refurbishment costs.

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans payable in less
than one year 10,000 10,000
10,000 10,000

Amounts falling due between one and two years:
Bank loans payable in one to two years 10,000 10,000

Amounts falling due between two and five years:
Bank loans payable in two to five years 9,097 18,889

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Property mortgages 2,207,293 2,198,365

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 29,097 38,889
Property mortgages 2,207,293 2,198,365
2,236,390 2,237,254

The bank loans represent commercial mortgages secured by a first charge over the various properties purchased by the company.

YUPELET LTD (REGISTERED NUMBER: 06336787)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 January 2023 352,177
Deficit for the year (2,815 )
At 31 December 2023 349,362