Yu & He Investments Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC488383 (Scotland)

YU & HE INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 OCTOBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms Zongying He

REGISTERED OFFICE:

9 Royal Crescent

Glasgow

G3 7SP

REGISTERED NUMBER:

SC488383 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

Chartered Accountants

9 Royal Crescent

Glasgow

G3 7SP

FIXED ASSETS

Investments

4

450

450

Investment property

5

220,000

220,000

220,450

220,450

CURRENT ASSETS

Debtors

6

1,909

11,864

Cash at bank

71,734

185,313

73,643

197,177

CREDITORS

Amounts falling due within one year

7

7,201

177,063

NET CURRENT ASSETS

66,442

20,114

TOTAL ASSETS LESS CURRENT LIABILITIES

286,892

240,564

PROVISIONS FOR LIABILITIES

2,660

2,660

NET ASSETS

284,232

237,904

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

11,340

11,340

Retained earnings

8

272,792

226,464

SHAREHOLDERS' FUNDS

284,232

237,904

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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 3 July 2023 and were signed by:

Ms Zongying He - Director

1.	STATUTORY INFORMATION

Yu & He Investments Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 November 2021

and 31 October 2022

450

NET BOOK VALUE

At 31 October 2022

450

At 31 October 2021

450

The unlisted investment represents 450 shares held in Yu & Lin Properties Limited.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2021

and 31 October 2022

220,000

NET BOOK VALUE

At 31 October 2022

220,000

At 31 October 2021

220,000

Fair value at 31 October 2022 is represented by:

£

Valuation in 2017

9,000

Valuation in 2021

5,000

Cost

206,000

220,000

The investment properties were revalued by the director on 31 October 2022.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Loan to Shareholder

-

10,000

Prepayments

1,909

1,864

1,909

11,864

The loan to shareholder is interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Corporation Tax

6,410

6,318

Loans from related companies

-

170,000

Director's current account

-

50

Accrued expenses

791

695

7,201

177,063

The loans from director and related companies are interest free and repayable on demand.

8.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 November 2021

226,464

11,340

237,804

Profit for the year

46,328

46,328

At 31 October 2022

272,792

11,340

284,132

9.	RELATED PARTY DISCLOSURES

The loan balance due to the director at the year end amounted to £nil (2020 : £50).

The loan balance due from a shareholder at the year end amounted to £nil (2021 : £10,000).