Registered number
11834732
Kangcheng UK Limited
Unaudited Filleted Accounts
28 February 2023
Kangcheng UK Limited
Registered number: 11834732
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 927 1,450
Investments 4 348,187 327,187
349,114 328,637
Current assets
Debtors 5 86 73
Cash at bank and in hand 4,003 4,699
4,089 4,772
Creditors: amounts falling due within one year 6 (97,742) (90,370)
Net current liabilities (93,653) (85,598)
Total assets less current liabilities 255,461 243,039
Creditors: amounts falling due after more than one year 7 (196,865) (203,984)
Provisions for liabilities (3,990) (2,090)
Net assets 54,606 36,965
Capital and reserves
Called up share capital 1 1
Revaluation reserve 8 55,400 36,300
Profit and loss account (795) 664
Shareholder's funds 54,606 36,965
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 member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Ms W Li
Director
Approved by the board on 3 October 2023
Kangcheng UK Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative 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:
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022 2,615
At 28 February 2023 2,615
Depreciation
At 1 March 2022 1,165
Charge for the year 523
At 28 February 2023 1,688
Net book value
At 28 February 2023 927
At 28 February 2022 1,450
4 Investments
Other
investments
£
Cost
At 1 March 2022 327,187
Revaluation 21,000
At 28 February 2023 348,187
5 Debtors 2023 2022
£ £
Other debtors 86 73
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,120 -
Taxation and social security costs - 80
Other creditors 90,622 90,290
97,742 90,370
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 196,865 203,984
8 Revaluation reserve 2023 2022
£ £
At 1 March 2022 36,300 27,390
Gain on revaluation of land and buildings 21,000 11,000
Deferred taxation arising on the revaluation of land and buildings (1,900) (2,090)
At 28 February 2023 55,400 36,300
9 Controlling party
The company is under the control of the director, Ms W Li by virtue of her shareholdings in the company.
10 Other information
Kangcheng UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
114 Hamlet Court Road
Westcliff On Sea
Essex
SS0 7LP
Kangcheng UK Limited 11834732 false 2022-03-01 2023-02-28 2023-02-28 VT Final Accounts April 2022 Ms W Li No description of principal activity 11834732 2021-03-01 2022-02-28 11834732 core:RevaluationReserve core:LandBuildings 2021-03-01 2022-02-28 11834732 core:RevaluationReserve 2021-03-01 2022-02-28 11834732 core:WithinOneYear 2022-02-28 11834732 core:AfterOneYear 2022-02-28 11834732 core:ShareCapital 2022-02-28 11834732 core:OtherReservesSubtotal 2022-02-28 11834732 core:RetainedEarningsAccumulatedLosses 2022-02-28 11834732 core:RevaluationReserve 2021-02-28 11834732 2022-03-01 2023-02-28 11834732 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11834732 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 11834732 bus:Director40 2022-03-01 2023-02-28 11834732 1 2022-03-01 2023-02-28 11834732 2 2022-03-01 2023-02-28 11834732 core:PlantMachinery 2022-03-01 2023-02-28 11834732 core:RevaluationReserve core:LandBuildings 2022-03-01 2023-02-28 11834732 core:RevaluationReserve 2022-03-01 2023-02-28 11834732 countries:England 2022-03-01 2023-02-28 11834732 bus:FRS102 2022-03-01 2023-02-28 11834732 bus:FullAccounts 2022-03-01 2023-02-28 11834732 2023-02-28 11834732 core:WithinOneYear 2023-02-28 11834732 core:AfterOneYear 2023-02-28 11834732 core:ShareCapital 2023-02-28 11834732 core:OtherReservesSubtotal 2023-02-28 11834732 core:RetainedEarningsAccumulatedLosses 2023-02-28 11834732 core:PlantMachinery 2023-02-28 11834732 core:RevaluationsIncreaseDecreaseInInvestments 2023-02-28 11834732 core:RevaluationReserve 2023-02-28 11834732 2022-02-28 11834732 core:PlantMachinery 2022-02-28 11834732 core:RevaluationReserve 2022-02-28 iso4217:GBP xbrli:pure