IRIS Accounts Production v24.1.0.578 SC382886 director 1.8.23 31.7.24 31.7.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3828862023-07-31SC3828862024-07-31SC3828862023-08-012024-07-31SC3828862022-07-31SC3828862022-08-012023-07-31SC3828862023-07-31SC382886ns15:Scotland2023-08-012024-07-31SC382886ns14:PoundSterling2023-08-012024-07-31SC382886ns10:Director12023-08-012024-07-31SC382886ns10:PrivateLimitedCompanyLtd2023-08-012024-07-31SC382886ns10:SmallEntities2023-08-012024-07-31SC382886ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-31SC382886ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-31SC382886ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-31SC382886ns10:FullAccounts2023-08-012024-07-31SC38288612023-08-012024-07-31SC382886ns10:RegisteredOffice2023-08-012024-07-31SC382886ns5:CurrentFinancialInstruments2024-07-31SC382886ns5:CurrentFinancialInstruments2023-07-31SC382886ns5:ShareCapital2024-07-31SC382886ns5:ShareCapital2023-07-31SC382886ns5:RetainedEarningsAccumulatedLosses2024-07-31SC382886ns5:RetainedEarningsAccumulatedLosses2023-07-31SC382886ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-31SC382886ns5:LeaseholdImprovements2023-08-012024-07-31SC382886ns5:FurnitureFittings2023-08-012024-07-31SC382886ns5:PatentsTrademarksLicencesConcessionsSimilar2023-07-31SC382886ns5:PatentsTrademarksLicencesConcessionsSimilar2023-08-012024-07-31SC382886ns5:PatentsTrademarksLicencesConcessionsSimilar2024-07-31SC382886ns5:PatentsTrademarksLicencesConcessionsSimilar2023-07-31SC382886ns5:LeaseholdImprovements2023-07-31SC382886ns5:FurnitureFittings2023-07-31SC382886ns5:LeaseholdImprovements2024-07-31SC382886ns5:FurnitureFittings2024-07-31SC382886ns5:LeaseholdImprovements2023-07-31SC382886ns5:FurnitureFittings2023-07-31SC382886ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-07-31SC382886ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-31SC382886ns5:CurrentFinancialInstruments2023-08-012024-07-31SC382886ns5:WithinOneYear2024-07-31SC382886ns5:WithinOneYear2023-07-31SC382886ns5:BetweenOneFiveYears2024-07-31SC382886ns5:BetweenOneFiveYears2023-07-31SC382886ns5:MoreThanFiveYears2024-07-31SC382886ns5:MoreThanFiveYears2023-07-31SC382886ns5:AllPeriods2024-07-31SC382886ns5:AllPeriods2023-07-31
REGISTERED NUMBER: SC382886 (Scotland)



















LIANG YU COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2024






LIANG YU COMPANY LIMITED (REGISTERED NUMBER: SC382886)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIANG YU COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: Chun Yu Trevor Lee





REGISTERED OFFICE: 9 Royal Crescent
Glasgow
G3 7SP





REGISTERED NUMBER: SC382886 (Scotland)





ACCOUNTANTS: CW
Chartered Accountants
9 Royal Crescent
Glasgow
G3 7SP

LIANG YU COMPANY LIMITED (REGISTERED NUMBER: SC382886)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 3,167 3,667
Tangible assets 4 3,707 5,296
6,874 8,963

CURRENT ASSETS
Stocks 2,100 2,550
Debtors 5 11,505 44,357
Cash at bank and in hand 325,387 353,688
338,992 400,595
CREDITORS
Amounts falling due within one year 6 45,708 62,564
NET CURRENT ASSETS 293,284 338,031
TOTAL ASSETS LESS CURRENT
LIABILITIES

300,158

346,994

PROVISIONS FOR LIABILITIES 704 1,165
NET ASSETS 299,454 345,829

LIANG YU COMPANY LIMITED (REGISTERED NUMBER: SC382886)

BALANCE SHEET - continued
31 JULY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 299,354 345,729
SHAREHOLDERS' FUNDS 299,454 345,829

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

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

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2025 and were signed by:





Chun Yu Trevor Lee - Director


LIANG YU COMPANY LIMITED (REGISTERED NUMBER: SC382886)

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


1. ACCOUNTING POLICIES

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

Turnover and revenue recognition
The turnover shown in the profit and loss account represents the value of sales during the year, exclusive of Value Added Tax. A sale is recognised at the point where a meal is served or handed over to the customer.

Intangible assets
After initial recognition intangible assets are measured at cost less any accumulated amortisation.

The company has amortised intangible assets as follows:

Lease Premium - over 20 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenant's Improvement - 10% on cost
Equipment and Fittings - 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments such as cash, debtors and creditors are measured at transaction price. Financial liabilities classified as payable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


LIANG YU COMPANY LIMITED (REGISTERED NUMBER: SC382886)

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


1. ACCOUNTING POLICIES - continued
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.

Employee benefits and pension costs
When employees have rendered service to the company , short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company contributes to the individual personal pensions of its employees. Contributions payable are charged to the accounts in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

LIANG YU COMPANY LIMITED (REGISTERED NUMBER: SC382886)

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


3. INTANGIBLE FIXED ASSETS
Lease
Premium
£   
COST
At 1 August 2023
and 31 July 2024 10,000
AMORTISATION
At 1 August 2023 6,333
Amortisation for year 500
At 31 July 2024 6,833
NET BOOK VALUE
At 31 July 2024 3,167
At 31 July 2023 3,667

4. TANGIBLE FIXED ASSETS
Equipment
Tenant's and
Improvement Fittings Totals
£    £    £   
COST
At 1 August 2023 47,688 42,609 90,297
Disposals - (188 ) (188 )
At 31 July 2024 47,688 42,421 90,109
DEPRECIATION
At 1 August 2023 47,688 37,313 85,001
Charge for year - 1,540 1,540
Eliminated on disposal - (139 ) (139 )
At 31 July 2024 47,688 38,714 86,402
NET BOOK VALUE
At 31 July 2024 - 3,707 3,707
At 31 July 2023 - 5,296 5,296

LIANG YU COMPANY LIMITED (REGISTERED NUMBER: SC382886)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Credit card debtors 7,109 5,474
Tax recoverable - 39
PAYE/NI debtor 122 283
Prepayments 4,274 38,561
11,505 44,357

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,107 6,161
Corporation Tax 7,024 26,435
VAT 22,122 16,836
Other creditors 2,000 2,000
Director's current account 6,619 6,611
Accrued expenses 4,836 4,521
45,708 62,564

The director's loan is interests free and repayable on demand.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 36,396 36,396
Between one and five years 145,584 145,584
In more than five years 42,462 78,858
224,442 260,838

8. RELATED PARTY DISCLOSURES

The loan balance due to the director at the year end amounted to £6,619 (2023 : £6,611)