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Company Registration No. 11144607 (England and Wales)
Yuanfang Ltd Unaudited accounts for the year ended 31 January 2024
Yuanfang Ltd Unaudited accounts Contents
Page
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Yuanfang Ltd Company Information for the year ended 31 January 2024
Director
Yunpeng Liang
Company Number
11144607 (England and Wales)
Registered Office
Unit 39a St Olav's Court City Business Centre Lower Road London SE16 2XB
Accountants
LJW Accountants Limited 27 Hardy Avenue Dartford Kent DA1 2FE
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Yuanfang Ltd for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Yuanfang Ltd for the year ended 31 January 2024 as set out on pages 5 - 7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
LJW Accountants Limited Chartered Certified Accountants 27 Hardy Avenue Dartford Kent DA1 2FE 26 October 2024
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Yuanfang Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
146,023 
106,710 
Current assets
Debtors
362,497 
122,767 
Investments
39,473 
39,473 
Cash at bank and in hand
310,818 
265,530 
712,788 
427,770 
Creditors: amounts falling due within one year
(692,753)
(421,759)
Net current assets
20,035 
6,011 
Total assets less current liabilities
166,058 
112,721 
Creditors: amounts falling due after more than one year
(31,674)
(41,683)
Net assets
134,384 
71,038 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
134,284 
70,938 
Shareholders' funds
134,384 
71,038 
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 26 October 2024 and were signed on its behalf by
Yunpeng Liang Director Company Registration No. 11144607
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Yuanfang Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Yuanfang Ltd is a private company, limited by shares, registered in England and Wales, registration number 11144607. The registered office is Unit 39a St Olav's Court, City Business Centre, Lower Road, London, SE16 2XB.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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:
Motor vehicles
Over 5 years
Computer equipment
Over 5 years
Inventories
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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Investments
Investments in shares are included at fair value.
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Yuanfang Ltd Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
161,533 
15,190 
176,723 
Additions
93,894 
3,655 
97,549 
At 31 January 2024
255,427 
18,845 
274,272 
Depreciation
At 1 February 2023
62,808 
7,205 
70,013 
Charge for the year
51,086 
7,150 
58,236 
At 31 January 2024
113,894 
14,355 
128,249 
Net book value
At 31 January 2024
141,533 
4,490 
146,023 
At 31 January 2023
98,725 
7,985 
106,710 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due after more than one year
Other debtors
362,497 
122,767 
6
Investments held as current assets
2024 
2023 
£ 
£ 
Unlisted investments
39,473 
39,473 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
(31,381)
31,619 
Taxes and social security
79,189 
35,494 
Other creditors
10,765 
73,516 
Loans from directors
628,000 
276,450 
Accruals
6,180 
4,680 
692,753 
421,759 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
31,674 
41,683 
9
Average number of employees
During the year the average number of employees was 10 (2023: 6).
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