Hakka Village Limited 14009995 false 2022-03-29 2023-03-31 2023-03-31 The principal activity of the company is that of unlicensed restaurants and cafes. Digita Accounts Production Advanced 6.30.9574.0 true true 14009995 2022-03-29 2023-03-31 14009995 2023-03-31 14009995 bus:Director1 2023-03-31 14009995 core:RetainedEarningsAccumulatedLosses 2023-03-31 14009995 core:ShareCapital 2023-03-31 14009995 core:CurrentFinancialInstruments 2023-03-31 14009995 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 14009995 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 14009995 core:MotorVehicles 2023-03-31 14009995 core:OfficeEquipment 2023-03-31 14009995 core:PlantMachinery 2023-03-31 14009995 bus:SmallEntities 2022-03-29 2023-03-31 14009995 bus:AuditExemptWithAccountantsReport 2022-03-29 2023-03-31 14009995 bus:AbridgedAccounts 2022-03-29 2023-03-31 14009995 bus:SmallCompaniesRegimeForAccounts 2022-03-29 2023-03-31 14009995 bus:RegisteredOffice 2022-03-29 2023-03-31 14009995 bus:Director1 2022-03-29 2023-03-31 14009995 bus:PrivateLimitedCompanyLtd 2022-03-29 2023-03-31 14009995 bus:Agent1 2022-03-29 2023-03-31 14009995 core:RetainedEarningsAccumulatedLosses 2022-03-29 2023-03-31 14009995 core:ShareCapital 2022-03-29 2023-03-31 14009995 core:MotorVehicles 2022-03-29 2023-03-31 14009995 core:OfficeEquipment 2022-03-29 2023-03-31 14009995 core:PlantMachinery 2022-03-29 2023-03-31 14009995 countries:UnitedKingdom 2022-03-29 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 14009995

Hakka Village Limited

Annual Report and Unaudited Abridged Financial Statements

for the Period from 29 March 2022 to 31 March 2023

 

Hakka Village Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Abridged Financial Statements

9 to 14

Detailed Profit and Loss Account

15 to 17

 

Hakka Village Limited

Company Information

Director

Mr Yip Hong Lau

Registered office

1st Floor
44 Worship Street
London
EC2A 2EA

Accountants

Tan Lam Partnership
Chartered Certified Accountants
1st Floor, 44 Worship Street
London
EC2A 2EA

 

Hakka Village Limited

Director's Report for the Period from 29 March 2022 to 31 March 2023

The director presents his report and the abridged financial statements for the period from 29 March 2022 to 31 March 2023.

Incorporation

The company was incorporated on 29 March 2022.

Director of the company

The director who held office during the period was as follows:

Mr Yip Hong Lau (appointed 29 March 2022)

Principal activity

The principal activity of the company is that of unlicensed restaurants and cafes.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 23 October 2023
 

.........................................
Mr Yip Hong Lau
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Hakka Village Limited
for the Period Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hakka Village Limited for the period ended 31 March 2023 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Hakka Village Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hakka Village Limited and state those matters that we have agreed to state to the Board of Directors of Hakka Village Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hakka Village Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hakka Village Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hakka Village Limited. You consider that Hakka Village Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Hakka Village Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Tan Lam Partnership
Chartered Certified Accountants
1st Floor, 44 Worship Street
London
EC2A 2EA

Date:.............................

 

Hakka Village Limited

Abridged Profit and Loss Account for the Period from 29 March 2022 to 31 March 2023

Note

2023
£

Gross profit

 

389,650

Administrative expenses

 

(290,294)

Interest payable and similar expenses

 

(1,504)

Profit before tax

4

97,852

Tax on profit

 

(18,926)

Profit for the financial period

 

78,926

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

Hakka Village Limited

Statement of Comprehensive Income for the Period from 29 March 2022 to 31 March 2023

2023
£

Profit for the period

78,926

Total comprehensive income for the period

78,926

 

Hakka Village Limited

(Registration number: 14009995)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

Fixed assets

 

Tangible assets

5

51,869

Current assets

 

Stocks

6

1,500

Debtors

7

13,260

Cash at bank and in hand

 

125,797

 

140,557

Creditors: Amounts falling due within one year

(57,695)

Net current assets

 

82,862

Total assets less current liabilities

 

134,731

Creditors: Amounts falling due after more than one year

(39,413)

Accruals and deferred income

 

(16,382)

Net assets

 

78,936

Capital and reserves

 

Called up share capital

8

10

Retained earnings

78,926

Shareholders' funds

 

78,936

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 23 October 2023
 

 

Hakka Village Limited

(Registration number: 14009995)
Abridged Balance Sheet as at 31 March 2023

.........................................
Mr Yip Hong Lau
Director

 

Hakka Village Limited

Statement of Changes in Equity for the Period from 29 March 2022 to 31 March 2023

Share capital
£

Retained earnings
£

Total
£

Profit for the period

-

78,926

78,926

New share capital subscribed

10

-

10

At 31 March 2023

10

78,926

78,936

 

Hakka Village Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 29 March 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
1st Floor
44 Worship Street
London
EC2A 2EA

These financial statements were authorised for issue by the director on 23 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Hakka Village Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 29 March 2022 to 31 March 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Hakka Village Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 29 March 2022 to 31 March 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 14.

 

Hakka Village Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 29 March 2022 to 31 March 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

Depreciation expense

17,107

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

1,191

1,535

66,250

68,976

At 31 March 2023

1,191

1,535

66,250

68,976

Depreciation

Charge for the period

238

307

16,562

17,107

At 31 March 2023

238

307

16,562

17,107

Carrying amount

At 31 March 2023

953

1,228

49,688

51,869

6

Stocks

2023
£

Other inventories

1,500

7

Debtors

Debtors includes £Nil due after more than one year.

8

Share capital

9

Dividends

Final dividends paid

 

Hakka Village Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 29 March 2022 to 31 March 2023

   

2023
£

 

Final dividend of Nil per each NewRow_0

 

111

 
       

Reconciliation to Dividends categories

Difference to be corrected

 

111

 

Final dividends paid

   

2023
£

 

Final dividend of Nil per each NewRow_0

 

111

 
       

Reconciliation to Dividends categories

Difference to be corrected

 

111

 

Interim dividends paid

Recommended final dividends paid and not recognised in the accounts

The director is recommending the following final dividends:

These dividends have not been accrued in the balance sheet.

10

Related party transactions

 

Hakka Village Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 29 March 2022 to 31 March 2023

Director's remuneration

The director's remuneration for the period was as follows:

2023
£

Remuneration

15,183

 

Hakka Village Limited

Detailed Profit and Loss Account for the Period from 29 March 2022 to 31 March 2023

2023
£

Turnover (analysed below)

682,553

Cost of sales (analysed below)

(292,903)

Gross profit

389,650

Gross profit (%)

57.09%

Administrative expenses

Employment costs (analysed below)

(125,265)

Establishment costs (analysed below)

(127,725)

General administrative expenses (analysed below)

(13,030)

Finance charges (analysed below)

(7,167)

Depreciation costs (analysed below)

(17,107)

(290,294)

Operating profit

99,356

Interest payable and similar expenses (analysed below)

(1,504)

Profit before tax

97,852

 

Hakka Village Limited

Detailed Profit and Loss Account for the Period from 29 March 2022 to 31 March 2023

2023
£

 

Turnover

Sales

682,553

 

Cost of sales

Purchases

(279,220)

Closing stock

1,500

Directors remuneration

(15,183)

(292,903)

 

Employment costs

Wages and salaries (excluding directors)

(124,106)

Staff pensions (Defined contribution)

(1,159)

(125,265)

 

Establishment costs

Rent and rates

(92,589)

Light, heat and power

(18,095)

Insurance

(1,988)

Repairs and maintenance

(15,053)

(127,725)

 

General administrative expenses

Printing, postage and stationery

(1,440)

Sundry expenses

(583)

Cleaning

(3,135)

Motor expenses

(1,519)

Travel and subsistence

(953)

Accountancy fees

(4,000)

Legal and professional fees

(1,400)

(13,030)

 

Finance charges

Bank & Credit card charges

(7,167)

 

Depreciation costs

Depreciation of plant and machinery (owned)

(238)

Depreciation of motor vehicles (finance lease/hp)

(16,562)

Depreciation of office equipment (owned)

(307)

(17,107)

 

Hakka Village Limited

Detailed Profit and Loss Account for the Period from 29 March 2022 to 31 March 2023

2023
£

 

Interest payable and similar expenses

Hire purchase interest

(1,504)