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REGISTERED NUMBER: 08845463 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 January 2023

for

Tsang (Holdings) Limited

Tsang (Holdings) Limited (Registered number: 08845463)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Tsang (Holdings) Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: S Tsang





REGISTERED OFFICE: 1 Mercia Court
Smith's Way
Saxon Business Park
Stoke Prior
Bromsgrove
B60 4GA





REGISTERED NUMBER: 08845463 (England and Wales)





ACCOUNTANTS: Nicklin LLP
Chartered Accountants
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Tsang (Holdings) Limited (Registered number: 08845463)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,000 1,000
Investment property 5 194,118 194,118
195,118 195,118

CURRENT ASSETS
Debtors 6 2,654 44
Cash at bank 23,352 24,494
26,006 24,538
CREDITORS
Amounts falling due within one year 7 89,545 101,356
NET CURRENT LIABILITIES (63,539 ) (76,818 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,579

118,300

CREDITORS
Amounts falling due after more than one
year

8

87,126

94,735
NET ASSETS 44,453 23,565

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 43,453 22,565
SHAREHOLDERS' FUNDS 44,453 23,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 October 2023 and were signed by:




S Tsang - Director


Tsang (Holdings) Limited (Registered number: 08845463)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Tsang (Holdings) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2022
and 31 January 2023 1,000
NET BOOK VALUE
At 31 January 2023 1,000
At 31 January 2022 1,000

Tsang (Holdings) Limited (Registered number: 08845463)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 194,118
NET BOOK VALUE
At 31 January 2023 194,118
At 31 January 2022 194,118

The fair value of the investment property has been determined by the director with reference to recent market prices of similar properties in the area.

The company's investment property is charged as security for borrowings.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,400 -
Other debtors 254 44
2,654 44

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,500 5,446
Amounts owed to group undertakings 56,112 94,237
Taxation and social security 135 874
Other creditors 26,798 799
89,545 101,356

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 87,126 94,735

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 61,126 72,952

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 93,626 100,181

The loan is secured by a charge over the company's property by way of a fixed charge.

10. RELATED PARTY DISCLOSURES

The total balance due to directors at 31st January 2023 was £1,048 (2022 - £49).