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REGISTERED NUMBER: 02637477 (England and Wales)















C. J. (UK) LIMITED

Financial Statements for the Year Ended 30 June 2023






C. J. (UK) LIMITED (REGISTERED NUMBER: 02637477)






Contents of the Financial Statements
for the year ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


C. J. (UK) LIMITED

Company Information
for the year ended 30 June 2023







Directors: V Wai Kei Chan
V Wai Lap Chan
S Siu Yin Cheng
L Blunt





Secretary: O T Crouch





Registered office: 3rd Floor
Lumiere House
Elstree Way
Borehamwood
Hertfordshire
WD6 1JH





Registered number: 02637477 (England and Wales)





Auditors: Haines Watts Birmingham LLP
5-6 Greenfield Crescent
Edgbaston
Birmingham
West Midlands
B15 3BE

C. J. (UK) LIMITED (REGISTERED NUMBER: 02637477)

Balance Sheet
30 June 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 6 6
Tangible assets 5 76,048 101,426
76,054 101,432

Current assets
Stocks 2,514,472 2,996,063
Debtors 6 921,378 1,995,152
Cash at bank and in hand 569,244 484,965
4,005,094 5,476,180
Creditors
Amounts falling due within one year 7 586,246 2,628,503
Net current assets 3,418,848 2,847,677
Total assets less current liabilities 3,494,902 2,949,109

Creditors
Amounts falling due after more than one
year

8

1,700,000

1,700,000
Net assets 1,794,902 1,249,109

Capital and reserves
Called up share capital 10 1,330 1,330
Retained earnings 1,793,572 1,247,779
Shareholders' funds 1,794,902 1,249,109

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:





L Blunt - Director


C. J. (UK) LIMITED (REGISTERED NUMBER: 02637477)

Notes to the Financial Statements
for the year ended 30 June 2023

1. Statutory information

C. J. (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Going concern
The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the company owes a net sum of £1,847,759 to other members of its group which is potentially repayable on demand. At the present time the company does not have adequate resources to fund the repayment of this liability if requested in full and this is expected to remain the case for at least the next 12 months. Thus the company's going concern status is dependent on maintaining ongoing financial support from other group companies for the next 12 months whereby the outstanding liabilities are not called in.

The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment, and have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Fixed assets are initially recorded at cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings-33% on cost, 20% on cost and 10% on cost
Short leasehold-over the life of the lease

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the exemption from provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.


C. J. (UK) LIMITED (REGISTERED NUMBER: 02637477)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

2. Accounting policies - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. Employees and directors

The average number of employees during the year was 17 (2022 - 18 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 July 2022
and 30 June 2023 6
Net book value
At 30 June 2023 6
At 30 June 2022 6

C. J. (UK) LIMITED (REGISTERED NUMBER: 02637477)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

5. Tangible fixed assets
Fixtures
Short and
leasehold fittings Totals
£ £ £
Cost
At 1 July 2022 122,999 90,546 213,545
Additions - 6,098 6,098
At 30 June 2023 122,999 96,644 219,643
Depreciation
At 1 July 2022 60,808 51,312 112,120
Charge for year 16,585 14,890 31,475
At 30 June 2023 77,393 66,202 143,595
Net book value
At 30 June 2023 45,606 30,442 76,048
At 30 June 2022 62,191 39,234 101,425

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 784,206 1,822,655
Other debtors 39,903 44,276
VAT - 43,261
Prepayments 97,269 84,960
921,378 1,995,152

7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 165,116 465,572
Amounts owed to group undertakings 147,759 1,995,208
Social security and other taxes 31,698 32,647
VAT 26,303 -
Other creditors - 3,284
Accruals and deferred income 215,370 131,792
586,246 2,628,503

8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other long term loans 1,700,000 1,700,000

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 114,383 91,807
Between one and five years 182,196 230,905
296,579 322,712

C. J. (UK) LIMITED (REGISTERED NUMBER: 02637477)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1,000 Ordinary A 1 1,000 1,000
330 Ordinary B 1 330 330
1,330 1,330

Ordinary A and Ordinary B shares have a right to receive notice of, attend and vote at a general meeting of the company, receive dividends and capital on wind up.

11. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Nichola Venables ACA (Senior Statutory Auditor)
for and on behalf of Haines Watts Birmingham LLP

12. Related party disclosures

The following amounts were owed by related parties at the reporting end date:-

Other related parties £nil (2022: £8,395)

The following amounts were owed to related parties at the reporting end date:

Entities with control, joint control or significant influence over the company £1,847,759 (2022: £3,695,208)

13. Parent company

Continental Holdings Limited (incorporated in Hong Kong) is regarded by the directors as company's ultimate parent company.

The immediate parent company is Yett Holdings Limited, a company registered in the British Virgin Islands.