Company Registration No. 8944535 (England and Wales)
Xun Long Product and Project Management Limited
Unaudited accounts
for the year ended 31 March 2022
Xun Long Product and Project Management Limited
Unaudited accounts
Contents
Xun Long Product and Project Management Limited
Company Information
for the year ended 31 March 2022
Director
Michael Ian Turner
Company Number
8944535 (England and Wales)
Registered Office
2 ELM PARK
LEEDS ROAD
HALIFAX
WEST YORKSHIRE
HX3 8NH
ENGLAND
Xun Long Product and Project Management Limited
Statement of financial position
as at 31 March 2022
Tangible assets
23,248
30,743
Cash at bank and in hand
39,926
193,240
Creditors: amounts falling due within one year
(166,626)
(103,938)
Net current assets
80,242
179,480
Total assets less current liabilities
103,490
210,223
Creditors: amounts falling due after more than one year
(41,667)
(45,833)
Called up share capital
2
2
Profit and loss account
61,821
164,388
Shareholders' funds
61,823
164,390
For the year ending 31 March 2022 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.
The financial statements were approved by the Board and authorised for issue on 5 September 2022 and were signed on its behalf by
Michael Ian Turner
Director
Company Registration No. 8944535
Xun Long Product and Project Management Limited
Notes to the Accounts
for the year ended 31 March 2022
Xun Long Product and Project Management Limited is a private company, limited by shares, registered in England and Wales, registration number 8944535. The registered office is 2 ELM PARK, LEEDS ROAD, HALIFAX, WEST YORKSHIRE, HX3 8NH, ENGLAND.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Expenditure on research and development is written off in the year in which it is incurred.
Xun Long Product and Project Management Limited
Notes to the Accounts
for the year ended 31 March 2022
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2021
27,317
4,119
7,293
38,729
At 31 March 2022
27,317
4,119
7,546
38,982
At 1 April 2021
287
3,142
4,557
7,986
Charge for the year
6,757
244
747
7,748
At 31 March 2022
7,044
3,386
5,304
15,734
At 31 March 2022
20,273
733
2,242
23,248
At 31 March 2021
27,030
977
2,736
30,743
6
Debtors: amounts falling due within one year
2022
2021
Trade debtors
163,843
37,402
Accrued income and prepayments
548
899
Other debtors
42,551
48,205
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
4,167
4,167
Trade creditors
80,113
21,741
Other creditors
3,229
13,551
Xun Long Product and Project Management Limited
Notes to the Accounts
for the year ended 31 March 2022
8
Creditors: amounts falling due after more than one year
2022
2021
Aggregate of amounts that fall due for payment after five years
1,683
5,833
Bank loans are secured under the government bounce back loans scheme. Interest will be charged at 2.5% and repayments commence 13 months after the date of the agreement. Interest in the first 12 months is paid by the government under the Business Interruption Payment scheme and has been accounted for as government grants.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
9,315
9,933
9,315
9,933
Directors loans were interest free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 4 (2021: 4).