1 February 2023 v2024.53.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPSC7197432023-02-012024-01-31SC7197432024-01-31SC7197432023-01-31SC719743core:WithinOneYear2024-01-31SC719743core:WithinOneYear2023-01-31SC719743core:ShareCapital2024-01-31SC719743core:ShareCapital2023-01-31SC719743core:RetainedEarningsAccumulatedLosses2024-01-31SC719743core:RetainedEarningsAccumulatedLosses2023-01-31SC719743bus:Director12023-02-012024-01-31SC719743bus:RegisteredOffice2023-02-012024-01-31SC719743core:PlantMachinery2023-02-012024-01-31SC719743core:FurnitureFittings2023-02-012024-01-31SC719743core:OfficeEquipment2023-02-012024-01-31SC719743core:MotorVehicles2023-02-012024-01-31SC7197432022-01-132023-01-31SC719743core:PlantMachinery2023-02-01SC719743core:PlantMachinery2024-01-31SC719743core:PlantMachinery2023-01-31SC71974312023-02-012024-01-31SC719743countries:Scotland2023-02-012024-01-31SC719743bus:AuditExemptWithAccountantsReport2023-02-012024-01-31SC719743bus:PrivateLimitedCompanyLtd2023-02-012024-01-31SC719743bus:SmallEntities2023-02-012024-01-31SC719743bus:FullAccounts2023-02-012024-01-31
Company registration number:
SC719743
YBJ Ltd
Unaudited Filleted Financial Statements for the year ended
31 January 2024
YBJ Ltd
Statement of Financial Position
31 January 2024
20242023
Note££
Fixed assets    
Tangible assets 5
95,720
 
118,668
 
Current assets    
Stocks
298,619
 
249,049
 
Debtors 6
64,263
 
36,751
 
Cash at bank and in hand
82,134
 
81,092
 
445,016
 
366,892
 
Creditors: amounts falling due within one year 7
(478,525
)
(452,848
)
Net current liabilities
(33,509
)
(85,956
)
Total assets less current liabilities 62,211   32,712  
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
62,111
 
32,612
 
Shareholders funds
62,211
 
32,712
 
For the year ending
31 January 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
28 October 2024
, and are signed on behalf of the board by:
C Jiang
Director
Company registration number:
SC719743
YBJ Ltd
Notes to the Financial Statements
Year ended
31 January 2024

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
122-128 Dumbarton Road
,
Glasgow
,
G11 6NY
, Scotland.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
15% straight line
Fixtures and fittings
15% straight line
Office equipment
15% straight line
Motor vehicles
20% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
24
(2023:
13.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 February 2023
131,495
 
Additions
10,113
 
Disposals
(13,495
)
At
31 January 2024
128,113
 
Depreciation  
At
1 February 2023
12,827
 
Charge
21,141
 
Disposals
(1,575
)
At
31 January 2024
32,393
 
Carrying amount  
At
31 January 2024
95,720
 
At 31 January 2023
118,668
 

6 Debtors

20242023
££
Trade debtors
16,432
 
19,950
 
Other debtors
47,831
 
16,801
 
64,263
 
36,751
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
218,646
 
206,724
 
Taxation and social security
9,830
 
3,014
 
Other creditors
250,049
 
243,110
 
478,525
 
452,848