Company Registration No. 10819603 (England and Wales)
9YFN Limited
Unaudited accounts
for the year ended 30 June 2024
9YFN Limited
Unaudited accounts
Contents
9YFN Limited
Company Information
for the year ended 30 June 2024
Directors
Mr Avtar Singh Saggu
Mrs Kanwaljit Kaur Saggu
Company Number
10819603 (England and Wales)
Registered Office
2 Stucley Road
Hounslow
Middlesex
TW5 0TN
United Kingdom
Accountants
Mission Accountants,
Suite S7 Rays House
North Circular Road
London
NW10 7XP
Accountants' report to the board of directors on the preparation of the unaudited statutory statements of 9YFN Limited (The Company) for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the year ended 30 June 2024 which comprises of the profit and loss account, the balance sheet, and explanatory notes from the company's accounting records and from information and explanations which you have provided us with.
As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to the board of directors of the company, as a body, in accordance with the terms of our letter of engagement dated 15 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of the company, and state those matters that we have agreed to state to the board of directors of the company as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its board of directors as a body for our work or for this report.
It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and financial performance of the company. You consider that the company is exempt from the requirement to have a statutory audit for the year ended 30 June 2024.
We have not been instructed to carry out any assurance service on the financial statements of the company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Mission Accountants,
Financial Accountants
Suite S7 Rays House
North Circular Road
London
NW10 7XP
9 January 2025
9YFN Limited
Statement of financial position
as at 30 June 2024
Tangible assets
250,000
250,000
Cash at bank and in hand
2,027
2,413
Creditors: amounts falling due within one year
(62,387)
(68,216)
Net current liabilities
(60,360)
(65,803)
Total assets less current liabilities
189,640
184,197
Creditors: amounts falling due after more than one year
(154,000)
(154,000)
Called up share capital
100
100
Profit and loss account
35,540
30,097
Shareholders' funds
35,640
30,197
For the year ending 30 June 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 9 January 2025 and were signed on its behalf by
Mr Avtar Singh Saggu
Director
Company Registration No. 10819603
9YFN Limited
Notes to the Accounts
for the year ended 30 June 2024
9YFN Limited is a private company, limited by shares, registered in England and Wales, registration number 10819603. The registered office is 2 Stucley Road, Hounslow, Middlesex, TW5 0TN, United Kingdom.
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 as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Tangible fixed assets
Land & buildings
9YFN Limited
Notes to the Accounts
for the year ended 30 June 2024
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
5,836
7,060
Loans from directors
54,351
59,956
6
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
154,000
154,000
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).