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REGISTERED NUMBER: 06716844 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

VICTOR YUAN LIMITED

VICTOR YUAN LIMITED (REGISTERED NUMBER: 06716844)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VICTOR YUAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: V J A Yuan
Mrs C M Yuan





SECRETARY: Mrs C M Yuan





REGISTERED OFFICE: Jackson House
Station Road
Chingford
London
E4 7BU





REGISTERED NUMBER: 06716844 (England and Wales)





ACCOUNTANTS: Barrow LLP
Chartered Accountants
Jackson House
Station Road
Chingford
London
E4 7BU

VICTOR YUAN LIMITED (REGISTERED NUMBER: 06716844)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 5,626 4,650
5,626 4,650

CURRENT ASSETS
Debtors 7 23,760 -
Cash at bank 94 28,693
23,854 28,693
CREDITORS
Amounts falling due within one year 8 (21,585 ) (24,292 )
NET CURRENT ASSETS 2,269 4,401
TOTAL ASSETS LESS CURRENT LIABILITIES 7,895 9,051

CREDITORS
Amounts falling due after more than one year 9 (4,667 ) (8,667 )
NET ASSETS 3,228 384

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 3,128 284
SHAREHOLDERS' FUNDS 3,228 384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

VICTOR YUAN LIMITED (REGISTERED NUMBER: 06716844)

BALANCE SHEET - continued
31 MARCH 2024


The 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 Profit and Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2024 and were signed on its behalf by:





V J A Yuan - Director


VICTOR YUAN LIMITED (REGISTERED NUMBER: 06716844)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Victor Yuan Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced fees, excluding value added tax. Turnover is recognised when services have been performed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Photographic equipment - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

VICTOR YUAN LIMITED (REGISTERED NUMBER: 06716844)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 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.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

VICTOR YUAN LIMITED (REGISTERED NUMBER: 06716844)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 170,000
AMORTISATION
At 1 April 2023
and 31 March 2024 170,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

6. TANGIBLE FIXED ASSETS
Fixtures
Photographic and Computer
equipment fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 30,616 1,979 13,014 45,609
Additions 200 3,328 - 3,528
At 31 March 2024 30,816 5,307 13,014 49,137
DEPRECIATION
At 1 April 2023 28,134 849 11,976 40,959
Charge for year 747 797 1,008 2,552
At 31 March 2024 28,881 1,646 12,984 43,511
NET BOOK VALUE
At 31 March 2024 1,935 3,661 30 5,626
At 31 March 2023 2,482 1,130 1,038 4,650

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 23,760 -

VICTOR YUAN LIMITED (REGISTERED NUMBER: 06716844)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 4,000 4,000
Trade creditors 2,666 6,158
Taxation and social security 6,654 10,338
Other creditors 8,265 3,796
21,585 24,292

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 4,667 8,667

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100