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COMPANY REGISTRATION NUMBER: 04419599
Woo Sang Holdings Limited
Filleted Unaudited Financial Statements
For the Year Ended
31 August 2021
Woo Sang Holdings Limited
Financial Statements
Year Ended 31 August 2021
Contents
Pages
Officers and Professional Advisers
1
Statement of Financial Position
2
Notes to the Financial Statements
3 to 4
Woo Sang Holdings Limited
Officers and Professional Advisers
The Board of Directors
P Lau
TF Lau
Company Secretary
P Lau
Registered Office
19/21 George Street
Chinatown
Manchester
M1 4HE
Accountants
Beever and Struthers
Chartered accountants
The Beehive
Lions Drive
Shadsworth Business Park
Blackburn
BB1 2QS
Woo Sang Holdings Limited
Statement of Financial Position
31 August 2021
2021
2020
Note
£
£
£
Fixed assets
Investments
4
563,255
563,255
Current assets
Cash at bank and in hand
1,361
1,361
Creditors: amounts falling due within one year
5
( 151,947)
( 151,947)
---------
---------
Net current liabilities
( 150,586)
( 150,586)
---------
---------
Total assets less current liabilities
412,669
412,669
---------
---------
Capital and reserves
Called up share capital
33,000
33,000
Share premium account
379,500
379,500
Profit and loss account
169
169
---------
---------
Shareholders funds
412,669
412,669
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 August 2022 , and are signed on behalf of the board by:
P Lau
Director
Company registration number: 04419599
Woo Sang Holdings Limited
Notes to the Financial Statements
Year Ended 31 August 2021
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 19/21 George Street, Chinatown, Manchester, M1 4HE.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of the directors there are no critical accounting judgements.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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 the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Investments
Shares in group undertakings
£
Cost
At 1 September 2020 and 31 August 2021
563,255
---------
Impairment
At 1 September 2020 and 31 August 2021
---------
Carrying amount
At 31 August 2021
563,255
---------
At 31 August 2020
563,255
---------
The company owns 100% of the issued share capital of the company listed below.
Aggregate capital and reserves
Woo Sang & Co Limited £1,357.340
Profit and (loss) for the year
Woo Sang & Co Limited £24,857
The principal activity of Woo Sang & Co Limited is that of letting and operating of leased real estate.
5. Creditors: amounts falling due within one year
2021
2020
£
£
Other creditors
151,947
151,947
---------
---------
6. Directors' Advances, Credits and Guarantees
As at the balance sheet date the amount owed to the directors was £36,013 (2020: £36,013).
7. Related Party Transactions
Included in creditors is an amount of £115,934 (2020: £115,934) owing to Woo Sang & Co Ltd, a subsidiary company of Woo Sang Holdings Limited . This loan is interest free and repayable on demand.