Registered number
11027826
Yoo Fashion Limited
Filleted Accounts
31 October 2023
Yoo Fashion Limited
Registered number: 11027826
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets - -
- -
Current assets
Stocks 27,723 4,186
Debtors 3 5,330 12,658
Cash at bank and in hand 15,641 24,291
48,694 41,135
Creditors: amounts falling due within one year 4 (38,229) (15,200)
Net current assets 10,465 25,935
Total assets less current liabilities 10,465 25,935
Creditors: amounts falling due after more than one year 5 (8,664) (3,062)
Provisions for liabilities - -
Net assets 1,801 22,873
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,701 22,773
Shareholders' funds 1,801 22,873
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
J Liu
Director
Approved by the board on 29 October 2024
Yoo Fashion Limited
Notes to the Accounts
for the year ended 31 October 2023
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2023 2022
£ £
Trade debtors 1,684 9,435
CJRS receivable - -
Vat Repayable 3,646 3,223
5,330 12,658
Amounts due after more than one year included above - -
4 Creditors: amounts falling due within one year 2023 2022
£ £
Net wages payable - -
Trade creditors - -
Pension 413 311
Taxation and social security costs 181 (3,446)
Other creditors 37,635 18,335
38,229 15,200
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - -
Trade creditors - -
Director's loan account 8,664 3,062
8,664 3,062
6 Related party transactions
No related party transactions were undertaken during the year as are required to be disclosed.
7 Controlling party
The company was under the control of Mr J Liu.
8 Other information
Yoo Fashion Limited is a private company limited by shares and incorporated in England. Its registered office is:
Commerce House, Office 105
Telford Road
Bicester
Oxfordshire
OX26 4LD
Yoo Fashion Limited 11027826 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts July 2024 J Liu No description of principal activity 11027826 2021-11-01 2022-10-31 11027826 core:WithinOneYear 2022-10-31 11027826 core:AfterOneYear 2022-10-31 11027826 core:ShareCapital 2022-10-31 11027826 core:RetainedEarningsAccumulatedLosses 2022-10-31 11027826 2022-11-01 2023-10-31 11027826 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11027826 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 11027826 bus:Director40 2022-11-01 2023-10-31 11027826 1 2022-11-01 2023-10-31 11027826 2 2022-11-01 2023-10-31 11027826 countries:England 2022-11-01 2023-10-31 11027826 bus:FRS102 2022-11-01 2023-10-31 11027826 bus:FilletedAccounts 2022-11-01 2023-10-31 11027826 2023-10-31 11027826 core:WithinOneYear 2023-10-31 11027826 core:AfterOneYear 2023-10-31 11027826 core:ShareCapital 2023-10-31 11027826 core:RetainedEarningsAccumulatedLosses 2023-10-31 11027826 2022-10-31 iso4217:GBP xbrli:pure