Registered number
13069866
Banzhou Electric Limited
Unaudited Filleted Accounts
31 December 2021
Banzhou Electric Limited
Registered number: 13069866
Balance Sheet
as at 31 December 2021
Notes 2021
£
Fixed assets
Tangible assets 3 1,091
Current assets
Stocks 1,292,007
Debtors 4 19,538
Cash at bank and in hand 226,416
1,537,961
Creditors: amounts falling due within one year 5 (1,606,130)
Net current liabilities (68,169)
Net liabilities (67,078)
Capital and reserves
Called up share capital 111
Profit and loss account (67,189)
Shareholders' funds (67,078)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Aeron Morgan Buchanan
Director
Approved by the board on 2 September 2022
Banzhou Electric Limited
Notes to the Accounts
for the period from 8 December 2020 to 31 December 2021
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less cumulative depreciation and any cumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The company has net liabilities and is therefore dependent upon the continuing support of its creditors and director. On the basis that this support is expected to continue, the accounts have been drawn up on the going concern basis.
2 Employees 2021
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Office equipment
£
Cost
Additions 1,286
At 31 December 2021 1,286
Depreciation
Charge for the period 195
At 31 December 2021 195
Net book value
At 31 December 2021 1,091
4 Debtors 2021
£
Other debtors 19,538
5 Creditors: amounts falling due within one year 2021
£
Trade creditors 2,221
Other taxes and social security costs 220
Other creditors 1,603,689
1,606,130
6 Other information
Banzhou Electric Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Hinksey Court
Church Way
Oxford
Oxfordshire
OX2 9SX
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