Caseware UK (AP4) 2021.0.152 2021.0.152 2021-06-302021-06-30trueNo description of principal activitytrue2020-07-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09107850 2020-07-01 2021-06-30 09107850 2019-07-01 2020-06-30 09107850 2021-06-30 09107850 2020-06-30 09107850 c:Director1 2020-07-01 2021-06-30 09107850 d:OfficeEquipment 2020-07-01 2021-06-30 09107850 d:OfficeEquipment 2021-06-30 09107850 d:OfficeEquipment 2020-06-30 09107850 d:OfficeEquipment d:OwnedOrFreeholdAssets 2020-07-01 2021-06-30 09107850 d:ComputerEquipment 2020-07-01 2021-06-30 09107850 d:FreeholdInvestmentProperty 2021-06-30 09107850 d:FreeholdInvestmentProperty 2020-06-30 09107850 d:CurrentFinancialInstruments 2021-06-30 09107850 d:CurrentFinancialInstruments 2020-06-30 09107850 d:Non-currentFinancialInstruments 2021-06-30 09107850 d:Non-currentFinancialInstruments 2020-06-30 09107850 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 09107850 d:CurrentFinancialInstruments d:WithinOneYear 2020-06-30 09107850 d:Non-currentFinancialInstruments d:AfterOneYear 2021-06-30 09107850 d:Non-currentFinancialInstruments d:AfterOneYear 2020-06-30 09107850 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-06-30 09107850 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-06-30 09107850 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-06-30 09107850 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-06-30 09107850 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-06-30 09107850 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-06-30 09107850 d:ShareCapital 2021-06-30 09107850 d:ShareCapital 2020-06-30 09107850 d:RetainedEarningsAccumulatedLosses 2021-06-30 09107850 d:RetainedEarningsAccumulatedLosses 2020-06-30 09107850 c:FRS102 2020-07-01 2021-06-30 09107850 c:AuditExempt-NoAccountantsReport 2020-07-01 2021-06-30 09107850 c:FullAccounts 2020-07-01 2021-06-30 09107850 c:PrivateLimitedCompanyLtd 2020-07-01 2021-06-30 09107850 2 2020-07-01 2021-06-30 iso4217:GBP xbrli:pure

Registered number: 09107850









KAM LOONG (LONDON) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

 
KAM LOONG (LONDON) LIMITED
REGISTERED NUMBER: 09107850

BALANCE SHEET
AS AT 30 JUNE 2021

2021
2020
£
£

Fixed assets
  

Tangible assets
 4 
4,554
2,472

Investment property
 5 
137,500
137,500

  
142,054
139,972

Current assets
  

Debtors: amounts falling due within one year
 6 
5,070,689
3,944,914

Cash at bank and in hand
 7 
15,019
39,730

  
5,085,708
3,984,644

Creditors: amounts falling due within one year
 8 
(5,013,887)
(3,974,133)

Net current assets
  
 
 
71,821
 
 
10,511

Total assets less current liabilities
  
213,875
150,483

Creditors: amounts falling due after more than one year
  
(40,000)
(50,000)

  

Net assets
  
173,875
100,483


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
173,872
100,480

  
173,875
100,483


Page 1

 
KAM LOONG (LONDON) LIMITED
REGISTERED NUMBER: 09107850
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 June 2022.


S Yap
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
KAM LOONG (LONDON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021

1.


General information

Kam Loong (London) Limited ("the Company") is a company limited by shares, incorporated in England and Wales. Its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.
The principal activity of the company during the year under review was that of property letting and the provision of business support services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Rental income
Revenue comprises rental income recognised by the company, exclusive of Value Added Tax.
Rental income from operating leases is recognised on a straight line basis over the term of the lease.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
KAM LOONG (LONDON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
KAM LOONG (LONDON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 July 2020
7,215


Additions
4,168



At 30 June 2021

11,383



Depreciation


At 1 July 2020
4,743


Charge for the year on owned assets
2,086



At 30 June 2021

6,829



Net book value



At 30 June 2021
4,554



At 30 June 2020
2,472

Page 5

 
KAM LOONG (LONDON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021

5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2020
137,500



At 30 June 2021
137,500

In the opinion of the directors freehold investment property is stated at market value.







Page 6

 
KAM LOONG (LONDON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021

6.


Debtors

2021
2020
£
£


Other debtors
5,070,689
3,944,914

5,070,689
3,944,914



7.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
15,019
39,730

15,019
39,730



8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
10,000
-

Other taxation and social security
4,266
682

Other creditors
4,195,029
3,173,859

Accruals and deferred income
804,592
799,592

5,013,887
3,974,133



9.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
40,000
50,000

40,000
50,000


Page 7

 
KAM LOONG (LONDON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021

10.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
10,000
-


10,000
-

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
30,000
30,000


30,000
30,000

Amounts falling due after more than 5 years

Bank loans
-
10,000

-
10,000

50,000
50,000



11.


Related party transactions

At the year end the company owed the directors £3,023,227 (2020 - £2,167,057).
At the year end the company owed a shareholder £1,135,000 (
2020 - £985,000).

 
Page 8