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Registered Number: 12697657
England and Wales

 

 

 

LING KITCHEN LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2021

End date: 30 June 2022
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 3 5,279    3,645 
5,279    3,645 
Current assets      
Stocks 4 2,052    2,052 
Debtors 5   2,502 
Cash at bank and in hand 21,118    9,380 
23,170    13,934 
Creditors: amount falling due within one year 6 (18,961)   (16,323)
Net current assets 4,209    (2,389)
 
Total assets less current liabilities 9,488    1,256 
Provisions for liabilities 7 (1,003)   (692)
Net assets 8,485    564 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 8,475    554 
Shareholder's funds 8,485    564 
 


For the year ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 02 September 2022 and were signed by:


--------------------------------
Xueling Wu
Director
1
General Information
LING KITCHEN LTD is a private company, limited by shares, registered in England and Wales, registration number 12697657, registration address 46 STATION ROAD, GOSFORTH , NEWCASTLE UPON TYNE, NE3 1QD

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25 Reducing Balance
Stocks
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Directors' Emoluments

     

3.

Average number of employees

Average number of employees during the year was 5 (2021 : 5).
4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 July 2021 4,860    4,860 
Additions  
Disposals 3,394    3,394 
At 30 June 2022 8,254    8,254 
Depreciation
At 01 July 2021 1,215    1,215 
Charge for year 1,760    1,760 
On disposals  
At 30 June 2022 2,975    2,975 
Net book values
Closing balance as at 30 June 2022 5,279    5,279 
Opening balance as at 01 July 2021 3,645    3,645 


5.

Stocks

2022
£
  2021
£
Stocks 2,052    2,052 
2,052    2,052 

6.

Debtors: amounts falling due within one year

2022
£
  2021
£
Directors' Current Accounts   2,502 
  2,502 

7.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade Creditors 711   
Corporation Tax 5,066    13,277 
PAYE & Social Security 59   
Other Creditors 1   
Directors' Current Accounts 1,740   
VAT 11,384    3,046 
18,961    16,323 

8.

Provisions for liabilities

2022
£
  2021
£
Deferred Tax 1,003    692 
1,003    692 

2