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Company Registration No. 07711056 (England and Wales)
Y.W. Asset Management Limited Unaudited accounts for the year ended 30 November 2024
Y.W. Asset Management Limited Unaudited accounts Contents
Page
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Y.W. Asset Management Limited Company Information for the year ended 30 November 2024
Director
Hong Wing Yeung
Company Number
07711056 (England and Wales)
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Y.W. Asset Management Limited Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
476,646 
492,767 
Current assets
Cash at bank and in hand
35,975 
24,818 
Creditors: amounts falling due within one year
(48,520)
(35,210)
Net current liabilities
(12,545)
(10,392)
Total assets less current liabilities
464,101 
482,375 
Creditors: amounts falling due after more than one year
(145,385)
(180,531)
Net assets
318,716 
301,844 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
318,706 
301,834 
Shareholders' funds
318,716 
301,844 
For the year ending 30 November 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 7 January 2025 and were signed on its behalf by
Hong Wing Yeung Director Company Registration No. 07711056
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Y.W. Asset Management Limited Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
Y.W. Asset Management Limited is a private company, limited by shares, registered in England and Wales, registration number 07711056.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment.
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.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Y.W. Asset Management Limited Notes to the Accounts for the year ended 30 November 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 December 2023
276,099 
9,924 
64,485 
180,024 
530,532 
At 30 November 2024
276,099 
9,924 
64,485 
180,024 
530,532 
Depreciation
At 1 December 2023
- 
- 
37,765 
- 
37,765 
Charge for the year
- 
- 
16,121 
- 
16,121 
At 30 November 2024
- 
- 
53,886 
- 
53,886 
Net book value
At 30 November 2024
276,099 
9,924 
10,599 
180,024 
476,646 
At 30 November 2023
276,099 
9,924 
26,720 
180,024 
492,767 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
11,215 
7,124 
Trade creditors
3,750 
3,750 
Taxes and social security
23,070 
23,070 
Accruals
10,485 
1,266 
48,520 
35,210 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
22,393 
31,739 
Other creditors
122,992 
148,792 
145,385 
180,531 
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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