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Company Registration No. 13377882 (England and Wales)
YCJP Limited Unaudited accounts for the year ended 31 May 2024
YCJP Limited Unaudited accounts Contents
Page
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YCJP Limited Company Information for the year ended 31 May 2024
Directors
Jack Povey Yu-Chun Dai
Secretary
Yu-Chun Dai
Company Number
13377882 (England and Wales)
Registered Office
15 Waylands Corner Tiverton Devon EX166PN England
Accountants
Cosmos Accounting Limited 15 Waylands Corner Tiverton Devon EX16 6PN
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YCJP Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,216 
4,020 
Investment property
981,532 
773,400 
984,748 
777,420 
Current assets
Debtors
19,476 
- 
Cash at bank and in hand
1,605 
3,296 
21,081 
3,296 
Creditors: amounts falling due within one year
(444,805)
(426,536)
Net current liabilities
(423,724)
(423,240)
Total assets less current liabilities
561,024 
354,180 
Creditors: amounts falling due after more than one year
(586,124)
(355,247)
Provisions for liabilities
Deferred tax
- 
(764)
Net liabilities
(25,100)
(1,831)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(25,102)
(1,833)
Shareholders' funds
(25,100)
(1,831)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by
Jack Povey Director Company Registration No. 13377882
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YCJP Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
YCJP Limited is a private company, limited by shares, registered in England and Wales, registration number 13377882. The registered office is 15 Waylands Corner, Tiverton, Devon, EX166PN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention except certain assets which will be modified by revaluation when required to show a fair value. Being a first year no revaluation has been required.
Presentation currency
The accounts are presented in £ sterling.
Going concern
At the balance sheet date the company had a net liability position to the value of £25,100. This is mainly due to directors loan accounts and the directors have pledged to support the company for the foreseeable future.
Depreciation
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually from the directors. Any changes in fair value are recognised in the profit and loss. This policy is in accordance with FRS102.
Land & buildings
No depreciation
Plant & machinery
20% reducing balance basis
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YCJP Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2023
4,606 
At 31 May 2024
4,606 
Depreciation
At 1 June 2023
586 
Charge for the year
804 
At 31 May 2024
1,390 
Net book value
At 31 May 2024
3,216 
At 31 May 2023
4,020 
5
Investment property
2024 
£ 
Fair value at 1 June 2023
773,400 
Additions
208,132 
At 31 May 2024
981,532 
2 of the 3 properties were purchased by the company in the 2021 and will still be considered to be at market value. The last property was purchased in this financial year, hence would still be considered market value. The directors believe that no revaluation is required at this time, but will be done within the next 1-2 years, whenever the difference will be material to present a fair value.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Deferred tax asset
3,265 
Other debtors
16,211 
- 
19,476 
- 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
19 
12 
Trade creditors
685 
322 
Taxes and social security
- 
173 
Loans from directors
443,676 
426,029 
Accruals
425 
- 
444,805 
426,536 
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YCJP Limited Notes to the Accounts for the year ended 31 May 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
586,124 
355,247 
Aggregate of amounts that fall due for payment after five years
586,058 
355,112 
9
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
611 
764 
Tax losses carried forward
(3,876)
- 
(3,265)
764 
2024 
2023 
£ 
£ 
Provision at start of year
764 
(387)
(Credited)/charged to the profit and loss account
(4,029)
1,151 
Provision at end of year
(3,265)
764 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
11
Controlling party
The ultimate controlling party is Mr Jack Povey and Miss Yu-Chun Dai.
12
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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