Registered number
12105237
Yalin Tan + Partners Ltd
Filleted Accounts
31 May 2024
Yalin Tan + Partners Ltd
Registered number: 12105237
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 952 1,162
Current assets
Debtors 4 2,533 15,052
Cash at bank and in hand 36,558 15,127
39,091 30,179
Creditors: amounts falling due within one year 5 (23,322) (16,821)
Net current assets 15,769 13,358
Total assets less current liabilities 16,721 14,520
Creditors: amounts falling due after more than one year 6 (16,579) (14,406)
Net assets 142 114
Capital and reserves
Called up share capital 100 100
Profit and loss account 42 14
Shareholder's funds 142 114
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Yalin Tan
Director
Approved by the board on 18 September 2024
Yalin Tan + Partners Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 18% Reducing balance method
Fixtures, fittings, tools and equipment over 5 years
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 2,699
At 31 May 2024 2,699
Depreciation
At 1 June 2023 1,537
Charge for the year 210
At 31 May 2024 1,747
Net book value
At 31 May 2024 952
At 31 May 2023 1,162
4 Debtors 2024 2023
£ £
Trade debtors 2,500 15,000
Other debtors 33 52
2,533 15,052
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 884
Taxation and social security costs 8,522 7,087
Other creditors 14,800 8,850
23,322 16,821
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 16,579 14,406
7 Related party transactions
As at the balance sheet date, the company owes £16,579 (2022: £14,406) to its director which has been included under other creditors due after one year.
8 Controlling party
The company is under the control of its director and shareholder, Yalin Tan.
9 Other information
Yalin Tan + Partners Ltd is a private company limited by shares and incorporated in England. Its registered office is:
86-90 Paul Street
3rd Floor
London
EC2A 4NE
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