Company Registration No. 11144607 (England and Wales)
Yuanfang Ltd
Unaudited accounts
for the year ended 31 January 2024
Yuanfang Ltd
Company Information
for the year ended 31 January 2024
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
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
Yuanfang Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
146,023
106,710
Cash at bank and in hand
310,818
265,530
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)
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
Yuanfang Ltd
Notes to the Accounts
for the year ended 31 January 2024
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.
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:
Motor vehicles
Over 5 years
Computer equipment
Over 5 years
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.
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 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 in shares are included at fair value.
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
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
At 31 January 2024
141,533
4,490
146,023
At 31 January 2023
98,725
7,985
106,710
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
Taxes and social security
79,189
35,494
Other creditors
10,765
73,516
Loans from directors
628,000
276,450
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 10 (2023: 6).