Company Registration No. 13377882 (England and Wales)
YCJP Limited
Unaudited accounts
for the year ended 31 May 2024
YCJP Limited
Unaudited accounts
Contents
YCJP Limited
Company Information
for the year ended 31 May 2024
Directors
Jack Povey
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
YCJP Limited
Statement of financial position
as at 31 May 2024
Tangible assets
3,216
4,020
Investment property
981,532
773,400
Cash at bank and in hand
1,605
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
Net liabilities
(25,100)
(1,831)
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
YCJP Limited
Notes to the Accounts
for the year ended 31 May 2024
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.
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.
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.
The accounts are presented in £ sterling.
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.
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
YCJP Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Fair value at 1 June 2023
773,400
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.
Amounts falling due within one year
Deferred tax asset
3,265
-
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
19
12
Taxes and social security
-
173
Loans from directors
443,676
426,029
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)
-
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
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
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).