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BAIYI TECHNOLOGY UK LTD

Registered Number
14872459
(England and Wales)

Unaudited Financial Statements for the Period ended
31 May 2024

BAIYI TECHNOLOGY UK LTD
Company Information
for the period from 16 May 2023 to 31 May 2024

Director

TANG, Lin

Registered Address

Dd-02-119-007 123 Buckingham Palace Road
London
SW1W 9SH

Registered Number

14872459 (England and Wales)
BAIYI TECHNOLOGY UK LTD
Statement of Financial Position
31 May 2024

Notes

2024

£

£

Fixed assets
Tangible assets34,883
4,883
Current assets
Debtors4155,737
Cash at bank and on hand111,716
267,453
Creditors amounts falling due within one year5(89,276)
Net current assets (liabilities)178,177
Total assets less current liabilities183,060
Creditors amounts falling due after one year6(311,917)
Net assets(128,857)
Capital and reserves
Called up share capital1
Profit and loss account(128,858)
Shareholders' funds(128,857)
The financial statements were approved and authorised for issue by the Director on 15 May 2025, and are signed on its behalf by:
TANG, Lin
Director
Registered Company No. 14872459
BAIYI TECHNOLOGY UK LTD
Notes to the Financial Statements
for the period ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A, as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount. Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

2024
Average number of employees during the year1
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions5,6905,690
At 31 May 245,6905,690
Depreciation and impairment
Charge for year807807
At 31 May 24807807
Net book value
At 31 May 244,8834,883
At 15 May 23--
4.Debtors: amounts due within one year

2024

£
Other debtors57,716
Prepayments and accrued income98,021
Total155,737
5.Creditors: amounts due within one year

2024

£
Amounts owed to related parties72,830
Taxation and social security4,970
Other creditors7,451
Accrued liabilities and deferred income4,025
Total89,276
6.Creditors: amounts due after one year

2024

£
Other creditors311,917
Total311,917