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Registration number: 11773920

Yan Yee Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 January 2024

 

Yan Yee Limited

Contents

Company Information

1

Directors' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 7

 

Yan Yee Limited

Company Information

Directors

G D Hughes

S C H Hughes

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Yan Yee Limited

Directors' Report for the Year Ended 31 January 2024

The directors present their report and the abridged financial statements for the year ended 31 January 2024.

Directors of the company

The directors who held office during the year were as follows:

G D Hughes

S C H Hughes

Going concern

The directors acknowledge that, at the year end, the company is insolvent. Since the year end the company continued to make losses but, because of the uncertainty of that situation, the directors acknowledge that the company may not be a "going concern" within the meaning of company law and accounting regulations. The directors are taking action to reduce costs and to change trading methods.
Although the above applies the accounts have not been restated as the difference between historical cost accounting and break up value is not known however the directors believe that the asset value is achievable if disposed of.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 30 October 2024 and signed on its behalf by:

.........................................
G D Hughes
Director

   
     
 

Yan Yee Limited

(Registration number: 11773920)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

58,103

67,814

Current assets

 

Stocks

3,000

1,800

Debtors

1,252

1,916

Cash at bank and in hand

 

4,439

6,363

 

8,691

10,079

Creditors: Amounts falling due within one year

(298,864)

(233,086)

Net current liabilities

 

(290,173)

(223,007)

Total assets less current liabilities

 

(232,070)

(155,193)

Creditors: Amounts falling due after more than one year

(23,210)

(25,000)

Net liabilities

 

(255,280)

(180,193)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(255,282)

(180,195)

Shareholders' deficit

 

(255,280)

(180,193)

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

 

Yan Yee Limited

(Registration number: 11773920)
Abridged Balance Sheet as at 31 January 2024

.........................................
G D Hughes
Director

   
     
 

Yan Yee Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance basis

Office equipment

20% straight line basis

Fixtures and fittings

20% reducing balance basis

Leasehold improvememts

15% straight line basis

 

Yan Yee Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Tangible assets

Long leasehold land and buildings
£

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Cost or valuation

At 1 February 2023

19,678

2,647

20,507

42,096

Additions

-

-

1,433

805

At 31 January 2024

19,678

2,647

21,940

42,901

Depreciation

At 1 February 2023

2,624

283

6,354

10,235

Charge for the year

1,312

379

3,118

6,536

At 31 January 2024

3,936

662

9,472

16,771

Carrying amount

At 31 January 2024

15,742

1,985

12,468

26,130

At 31 January 2023

17,054

2,364

14,153

31,861

 

Yan Yee Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

4,130

89,058

Additions

222

2,460

At 31 January 2024

4,352

91,518

Depreciation

At 1 February 2023

1,748

21,244

Charge for the year

826

12,171

At 31 January 2024

2,574

33,415

Carrying amount

At 31 January 2024

1,778

58,103

At 31 January 2023

2,382

67,814

Included within the net book value of land and buildings above is £15,742 (2023 - £17,054) in respect of long leasehold land and buildings and £1,986 (2023 - £2,364) in respect of short leasehold land and buildings.
 

4

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2