Company Registration No. 06641160 (England and Wales)
Yi Wanda Limited
Unaudited accounts
for the year ended 31 July 2019
Yi Wanda Limited
Unaudited accounts
Contents
Yi Wanda Limited
Company Information
for the year ended 31 July 2019
Company Number
06641160 (England and Wales)
Registered Office
120 COMMERCIAL ROAD
LONDON
E1 1NL
Accountants
Anthony Daniel Associates
10 Julian Place
London
E14 3AT
Yi Wanda Limited
Statement of financial position
as at
31 July 2019
Tangible assets
3,645
2,495
Inventories
104,856
91,240
Cash at bank and in hand
13,789
10,723
Creditors: amounts falling due within one year
(229,618)
(146,801)
Net current liabilities
(83,739)
(26,721)
Net liabilities
(80,094)
(24,226)
Called up share capital
1
1
Profit and loss account
(80,095)
(24,227)
Shareholders' funds
(80,094)
(24,226)
For the year ending 31 July 2019 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 11 April 2020.
Shiwan Pan
Director
Company Registration No. 06641160
Yi Wanda Limited
Notes to the Accounts
for the year ended 31 July 2019
Yi Wanda Limited is a private company, limited by shares, registered in England and Wales, registration number 06641160. The registered office is 120 COMMERCIAL ROAD, LONDON, E1 1NL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% on straight line
Computer equipment
25% on straight line
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 items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
These accounts have been prepared on the going concern basis, on the understanding that the director and shareholders will continue to financially support the company during this uncertain period.
Yi Wanda Limited
Notes to the Accounts
for the year ended 31 July 2019
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2018
550
3,986
4,536
At 31 July 2019
550
6,359
6,909
At 1 August 2018
550
1,491
2,041
Charge for the year
-
1,223
1,223
At 31 July 2019
550
2,714
3,264
At 31 July 2019
-
3,645
3,645
At 31 July 2018
-
2,495
2,495
Finished goods
104,856
91,240
Trade debtors
5,653
1,055
Accrued income and prepayments
9,825
10,929
Other debtors
11,756
6,133
7
Creditors: amounts falling due within one year
2019
2018
Trade creditors
90,170
9,026
Taxes and social security
(5,475)
(5,611)
Other creditors
61,458
61,373
Loans from directors
82,380
81,163
8
Share capital
2019
2018
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
The ultimate controlling party is Mr Shiwan Pan, who is a director of the company.
Yi Wanda Limited
Notes to the Accounts
for the year ended 31 July 2019
10
Average number of employees
During the year the average number of employees was 4 (2018: 4).