YG-1 Uk Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05814139 (England and Wales)

Financial Statements

for the Year Ended 31 December 2018

for

YG-1 Uk Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Y Yu

SECRETARY:

P Lillicrapp

REGISTERED OFFICE:

Unit 2 Kingfisher Court

Hemdale Business Park

Nuneaton

Warwickshire

CV11 6GY

REGISTERED NUMBER:

05814139 (England and Wales)

AUDITORS:

Leigh Christou Ltd

Chartered Certified Accountants and

Statutory Auditor

Leofric House

Binley Road

Coventry

CV3 1JN

FIXED ASSETS

Investments

3

2

617,414

CURRENT ASSETS

Debtors

4

95

-

Cash at bank

34,179

34,275

34,274

34,275

NET CURRENT ASSETS

34,274

34,275

TOTAL ASSETS LESS CURRENT LIABILITIES

34,276

651,689

CREDITORS

Amounts falling due after more than one year

5

-

642,548

NET ASSETS

34,276

9,141

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

34,275

9,140

SHAREHOLDERS' FUNDS

34,276

9,141

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 11 April 2019 and were signed by:

Y Yu - Director

1.	STATUTORY INFORMATION

YG-1 Uk Holdings Limited 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.	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.

Related party exemption

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

617,414

Disposals

(617,412

)

At 31 December 2018

2

NET BOOK VALUE

At 31 December 2018

2

At 31 December 2017

617,414

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Europa Tool Company Limited

Registered office:

Nature of business: Buying and selling of tools

%

Class of shares:

holding

Ordinary

100.00

31.12.18

31.12.17

£

£

Aggregate capital and reserves

3,309,167

(72,751

)

Profit for the year

3,381,918

414,551

Clarkson Osborn International Limited

Registered office:

Nature of business: Buying and selling of tools

%

Class of shares:

holding

Ordinary

100.00

31.12.18

31.12.17

£

£

Aggregate capital and reserves

238,840

3,835,616

Loss for the year

(3,596,776

)

(66,900

)

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Amounts owed by group undertakings

95

-

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Amounts owed to group undertakings

-

642,548

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

The Report of the Auditors was unqualified.

C A Christou FCCA MAE (Senior Statutory Auditor)

for and on behalf of Leigh Christou Ltd

7.	ULTIMATE CONTROLLING PARTY

The immediate parent company is US Global Management Holdings Corp. a company incorporated in the USA.

The ultimate parent company is SAB Tool Supply Co, a company registered in the USA of which US Global

Management Holdings Corp is a wholly owned subsidiary.