Acorah Software Products - Accounts Production 16.4.675 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 10439217 Y Tsang C Yuen iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10439217 2023-10-31 10439217 2024-10-31 10439217 2023-11-01 2024-10-31 10439217 frs-core:CurrentFinancialInstruments 2024-10-31 10439217 frs-core:PlantMachinery 2024-10-31 10439217 frs-core:PlantMachinery 2023-11-01 2024-10-31 10439217 frs-core:PlantMachinery 2023-10-31 10439217 frs-core:ShareCapital 2024-10-31 10439217 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 10439217 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 10439217 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 10439217 frs-bus:SmallEntities 2023-11-01 2024-10-31 10439217 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 10439217 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 10439217 frs-bus:Director1 2023-11-01 2024-10-31 10439217 frs-bus:CompanySecretary1 2023-11-01 2024-10-31 10439217 frs-core:CurrentFinancialInstruments 1 2024-10-31 10439217 frs-countries:EnglandWales 2023-11-01 2024-10-31 10439217 2022-10-31 10439217 2023-10-31 10439217 2022-11-01 2023-10-31 10439217 frs-core:CurrentFinancialInstruments 2023-10-31 10439217 frs-core:ShareCapital 2023-10-31 10439217 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 10439217 frs-core:CurrentFinancialInstruments 1 2023-10-31
Registered number: 10439217
Yuen Tsang Company Ltd
Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10439217
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 712 950
712 950
CURRENT ASSETS
Debtors 5 110,829 110,829
Cash at bank and in hand 139,135 92,472
249,964 203,301
Creditors: Amounts Falling Due Within One Year 6 (54,842 ) (47,637 )
NET CURRENT ASSETS (LIABILITIES) 195,122 155,664
TOTAL ASSETS LESS CURRENT LIABILITIES 195,834 156,614
PROVISIONS FOR LIABILITIES
Deferred Taxation (135 ) (181 )
NET ASSETS 195,699 156,433
CAPITAL AND RESERVES
Called up share capital 7 150,000 150,000
Profit and Loss Account 45,699 6,433
SHAREHOLDERS' FUNDS 195,699 156,433
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Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Y Tsang
Director
18th July 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Yuen Tsang Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10439217 . The registered office is Golden Palace 40, Station Road West, Oxted, Surrey, RH8 9EU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2023 2,444
As at 31 October 2024 2,444
Depreciation
As at 1 November 2023 1,494
Provided during the period 238
As at 31 October 2024 1,732
Net Book Value
As at 31 October 2024 712
As at 1 November 2023 950
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 7,667 7,667
Cheng Kwong Yuen 53,162 53,162
Called up share capital not paid 50,000 50,000
110,829 110,829
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 1,043 -
Other taxes and social security 2,062 2,093
VAT 16,244 13,308
Pensions due 228 392
Accruals and deferred income 2,112 2,463
Director's loan account 33,153 29,381
54,842 47,637
7. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 50,000 50,000
Called Up Share Capital has been paid up 100,000 100,000
Amount of Allotted, Called Up Share Capital 150,000 150,000
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