REGISTERED NUMBER: 11852052 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Yihai (Uk) Food Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Q Guo

REGISTERED OFFICE:

10-11 Austin Friars

London

EC2N 2HG

REGISTERED NUMBER:

11852052 (England and Wales)

AUDITORS:

Cartwrights

Chartered Accountants and Business Advisors

Statutory Auditor

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

FIXED ASSETS

Tangible assets

5

104,656

153,765

CURRENT ASSETS

Stocks

360,773

342,516

Debtors

6

114,052

229,661

Cash at bank

2,731,436

2,366,535

3,206,261

2,938,712

CREDITORS

Amounts falling due within one year

7

1,083,944

1,240,606

NET CURRENT ASSETS

2,122,317

1,698,106

TOTAL ASSETS LESS CURRENT LIABILITIES

2,226,973

1,851,871

PROVISIONS FOR LIABILITIES

26,164

38,442

NET ASSETS

2,200,809

1,813,429

CAPITAL AND RESERVES

Called up share capital

9

1,000,000

1,000,000

Retained earnings

1,200,809

813,429

SHAREHOLDERS' FUNDS

2,200,809

1,813,429

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 14 October 2025 and were signed by:

Q Guo - Director

1.	STATUTORY INFORMATION

Yihai (Uk) Food Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc - 20% on cost and 10% on cost

A 5% residual value is used to reflect the assumption that, at the end of their useful life, they still retain some value either for resale, scrap, or continued minimal use.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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.

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.

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

333,460

Disposals

(1,215

)

At 31 December 2024

332,245

DEPRECIATION

At 1 January 2024

179,695

Charge for year

49,048

Eliminated on disposal

(1,154

)

At 31 December 2024

227,589

NET BOOK VALUE

At 31 December 2024

104,656

At 31 December 2023

153,765

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

65,052

148,676

Amounts owed by group undertakings

-

52,165

Other debtors

49,000

28,820

114,052

229,661

Included in trade debtors are £45,358 (2023: £71,355) owed from UK HAIDILAO PTE. LTD., a company under common control. Sales of £838,940 (2023: £310,256) were made to this company in the year.

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment, and are repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Payments on account

-

7,240

Trade creditors

4,210

164,587

Amounts owed to group undertakings

455,483

219,160

Taxation and social security

296,613

171,024

Other creditors

327,638

678,595

1,083,944

1,240,606

8.	FINANCIAL INSTRUMENTS

Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at the transaction value.

They are then subsequently carried at amortised cost using the effective interest rate method.

At the end of each reporting period financial assets are assessed for impairment. If an impairment exists the impairment loss is recognised in the income statement.

Financial assets are derecognised when:

- the contractual right to cash flows from the asset are settled or expire,

- substantially all the risk and rewards of the ownership of the asset are transferred to another party or

- despite retaining some significant risks and rewards, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset without additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at the transaction value.

They are then subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the liability is discharged, cancelled or expires.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

1,000,000

Ordinary

£1

1,000,000

1,000,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Brown (Senior Statutory Auditor)

for and on behalf of Cartwrights

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Yihai (Singapore) Food PTE Ltd. The smallest undertaking for which the company is a member and for which group financial statements are prepared by the intermediate parent company Yihai International Holding Ltd, incorporated in the Cayman Islands, which produces consolidated financial statements available for public use. The registered office of Yihai International Holding Ltd., where those consolidated financial statements can be obtained, is as follows: Grand Pavilion, Hibiscus Way, 802 West Bay Road, P.O. Box 31119, KY1-1205, Cayman Islands. The ultimate parent company is ZYSP Yihai Ltd, incorporated in the Cayman Islands.

The ultimate controlling party is Mr. Yong Zhang.