JADE PALACE TRADING LIMITED


Directors	Robert Yuk Kin Leung
	Yuk Sang Leung


Company Secretary	Peter Yuk Sang Leung


Registered Address	9 Royal Crescent
	Glasgow
	G3 7SP


Registered Number	SC247605 (Scotland)

Balance Sheet as at
31 July 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Investment property	4		464,689		371,689
			464,689		371,689
Current assets
Debtors	5	28,734		43,411
Cash at bank and on hand		22,422		18,214
		51,156		61,625
Creditors amounts falling due within one year	6	(185,881)		(112,061)
Net current assets (liabilities)			(134,725)		(50,436)
Total assets less current liabilities			329,964		321,253
Creditors amounts falling due after one year	7		-		(9,724)
Net assets			329,964		311,529
Capital and reserves
Called up share capital			10,000		10,000
Profit and loss account			319,964		301,529
Shareholders' funds			329,964		311,529

The company was entitled to exemption from audit for this reporting period 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 Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 22 April 2026, and are signed on its behalf by:

Yuk Sang Leung
Director
Registered Company No. SC247605

JADE PALACE TRADING LIMITED

Notes to the Financial Statements
for the year ended 31 July 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover policy
	The turnover shown in the profit and loss account represents rental income receivable during the year. Income is recognised on the basis of rent due for the year.

	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.

	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.

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.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.

	Financial instruments
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Prior period adjustment
	In preparing the accounts, the directors have considered whether in applying the accounting policies required by FRS 102, a restatement of comparative items was needed. The following restatements were required :- Under FRS 105 : Retained Earnings £173,653 Loss for the Period £10,335 Under FRS102 : Retained Earnings £301,529 Loss for the Period £2,133 The investment property accumulated deprecation brought forward of £126,375 was reversed to retained earnings brought forward and the £7,434 depreciation charged for the year was also reversed. A deferred tax asset of £4,402 was provided for on tax losses carried forward.

Prior period adjustment

In preparing the accounts, the directors have considered whether in applying the accounting policies required by FRS 102, a restatement of comparative items was needed. The following restatements were required :-

Under FRS 105 :
Retained Earnings £173,653
Loss for the Period £10,335

Under FRS102 :
Retained Earnings £301,529
Loss for the Period £2,133

The investment property accumulated deprecation brought forward of £126,375 was reversed to retained earnings brought forward and the £7,434 depreciation charged for the year was also reversed.

A deferred tax asset of  £4,402 was provided for on tax losses carried forward.

4.	Investment property
	The directors are of the opinion that the cost of the investment properties are an appropriate estimation of their current market value.


		£
	Fair value at 01 August 24	371,689
	Additions	93,000
	At 31 July 25	464,689

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	28,734	43,136
Prepayments and accrued income	-	275
Total	28,734	43,411


	Other debtors includes a loan to related company which is interest free and repayable on demand.

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Bank borrowings and overdrafts	9,640	10,000
Taxation and social security	4,215	-
Other creditors	171,168	101,256
Accrued liabilities and deferred income	858	805
Total	185,881	112,061


	Other creditors includes directors' loans and a loan from related company which are interest free and repayable on demand.

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	-	9,724
Total	-	9,724

8.	Related party transactions
	The loan balance due to directors amounted to £72,364 (2024 : £2,452) at the year end.

9.	Description of reasons for any change in chosen formats of the financial statements
	The accounts were previously prepared under FRS 105, details of the adjustments made to the comparative figures are documented within note 3 to the accounts.