Yu & He Investments Limited - Accounts to registrar (filleted) - small 18.2
Yu & He Investments Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| YU & HE INVESTMENTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 OCTOBER 2020 |
| YU & HE INVESTMENTS LIMITED (REGISTERED NUMBER: SC488383) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| YU & HE INVESTMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 9 Royal Crescent |
| Glasgow |
| G3 7SP |
| YU & HE INVESTMENTS LIMITED (REGISTERED NUMBER: SC488383) |
| BALANCE SHEET |
| 31 OCTOBER 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 8 |
| Retained earnings | 8 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| YU & HE INVESTMENTS LIMITED (REGISTERED NUMBER: SC488383) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2020 |
| 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 |
| YU & HE INVESTMENTS LIMITED (REGISTERED NUMBER: SC488383) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 1. | STATUTORY INFORMATION |
| Yu & He Investments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover and revenue recognition |
| The turnover shown in the profit and loss account represents the rental income receivable for the year. Income is recognised on the basis of rent due for the year. |
| Investment property |
| Investment properties are shown at their fair value. The surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market is not considered to be permanent. |
| This is in accordance with FRS102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. |
| Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve together with the fair value movement. |
| Financial instruments |
| Basic financial instruments such as cash, debtors and creditors are measured at transaction price. Financial liabilities classified as payable within one year are not amortised. |
| 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. |
| YU & HE INVESTMENTS LIMITED (REGISTERED NUMBER: SC488383) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Unlisted investments |
| Unlisted investments are shown at cost less impairment as a reliable fair value is not available. |
| Going concern |
| The directors consider there are no material uncertainties about the company's ability to continue as a going concern. Accordingly the financial statements have been prepared on a going concern basis. This assessment of going concern includes the expected impact of COVID-19 to the entity in the 12 months following the signing of these financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| 4. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST |
| At 1 November 2019 |
| Additions |
| Disposals | ( |
) |
| At 31 October 2020 |
| NET BOOK VALUE |
| At 31 October 2020 |
| At 31 October 2019 |
| The unlisted investment represents 450 shares held in Yu & Lin Properties Limited. |
| YU & HE INVESTMENTS LIMITED (REGISTERED NUMBER: SC488383) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 November 2019 |
| and 31 October 2020 |
| NET BOOK VALUE |
| At 31 October 2020 |
| At 31 October 2019 |
| Fair value at 31 October 2020 is represented by: |
| £ |
| Valuation in 2017 | 9,000 |
| Cost | 206,000 |
| 215,000 |
| The investment properties were revalued by the director on 31 October 2017. The director's valuation at 31 October 2018, 2019 and 2020 remains unchanged. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Loan to Shareholder |
| Prepayments |
| The Loan to Shareholder is interest free and repayable on demand. |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Corporation Tax |
| Shareholders loan |
| Other creditor |
| Loans from related companies |
| Director's current account |
| Accrued expenses |
| The loans from director, shareholders, other creditor and related company are interest free and repayable on demand. |
| YU & HE INVESTMENTS LIMITED (REGISTERED NUMBER: SC488383) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 8. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 November 2019 | 106,222 |
| Profit for the year |
| At 31 October 2020 | 177,318 |
| 9. | RELATED PARTY DISCLOSURES |
| The loan balance due to the director at the year end amounted to £ |
| The loan balance due from a shareholder at the year end amounted to £17,348 (2019 : £32,202 creditor). |