Company Registration No. 05125267 (England and Wales)
Jing Xing Trading Co. Limited
Unaudited accounts
for the year ended 30 June 2023
Jing Xing Trading Co. Limited
Unaudited accounts
Contents
Jing Xing Trading Co. Limited
Company Information
for the year ended 30 June 2023
Directors
Lian Wei Xu
Yang Li
Company Number
05125267 (England and Wales)
Registered Office
Roselea House
Catsash Road
Newport
NP18 2LZ
Accountants
Evans Entwistle
Venta House
Maes-glas
Newport
NP20 2NS
Jing Xing Trading Co. Limited
Statement of financial position
as at 30 June 2023
Tangible assets
52,097
86,824
Investment property
1,600,000
1,350,000
Cash at bank and in hand
1,081,573
778,060
Creditors: amounts falling due within one year
(211,801)
(299,033)
Net current assets
2,024,377
837,163
Total assets less current liabilities
3,676,676
3,345,288
Creditors: amounts falling due after more than one year
(2,141,007)
(2,869,014)
Provisions for liabilities
Deferred tax
(73,532)
(80,131)
Net assets
1,462,137
396,143
Called up share capital
100
100
Revaluation reserve
299,251
299,251
Profit and loss account
1,162,786
96,792
Shareholders' funds
1,462,137
396,143
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by
Lian Wei Xu
Director
Company Registration No. 05125267
Jing Xing Trading Co. Limited
Notes to the Accounts
for the year ended 30 June 2023
Jing Xing Trading Co. Limited is a private company, limited by shares, registered in England and Wales, registration number 05125267. The registered office is Roselea House, Catsash Road, Newport, NP18 2LZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
4 years - straight line
Fixtures & fittings
10 years - straight line
Computer equipment
4 years - straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Jing Xing Trading Co. Limited
Notes to the Accounts
for the year ended 30 June 2023
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2022
113,702
350,893
2,656
467,251
At 30 June 2023
113,702
350,893
2,656
467,251
At 1 July 2022
113,702
264,069
2,656
380,427
Charge for the year
-
34,727
-
34,727
At 30 June 2023
113,702
298,796
2,656
415,154
At 30 June 2023
-
52,097
-
52,097
At 30 June 2022
-
86,824
-
86,824
Fair value at 1 July 2022
1,350,000
6
Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 July 2022
301
1,071,000
1,071,301
Disposals
(100)
(1,071,000)
(1,071,100)
Valuation at 30 June 2023
202
-
202
The company holds the following investments.
Unlisted Investments:
- £1,071,000 invested in Star Oriental Trading Ltd (13614890)
Investments in Subsidiaries:
- £100 share capital in Be Foods Ltd (11426608)
- £100 share capital in Total Asia Food Bristol Ltd (09129172)
- £100 share capital in Total Asia Foods Ltd (09239580)
- £1 share capital in I Packaging Ltd (08329946)
Jing Xing Trading Co. Limited
Notes to the Accounts
for the year ended 30 June 2023
Amounts falling due within one year
Amounts falling due after more than one year
Amounts due from group undertakings etc.
-
346,766
8
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
55,990
86,919
Trade creditors
16,000
175,422
Taxes and social security
19,322
34,892
9
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
365,805
382,652
Amounts owed to group undertakings and other participating interests
1,775,202
1,749,688
Loans from directors
-
736,674
10
Deferred taxation
2023
2022
Accelerated capital allowances
73,532
80,131
Provision at start of year
80,131
92,233
Credited to the profit and loss account
(6,599)
(12,102)
Provision at end of year
73,532
80,131
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Jing Xing Trading Co. Limited
Notes to the Accounts
for the year ended 30 June 2023
12
Transactions with related parties
Jing Xing Trading Co. Limited is the parent company of the Jing Xing Trading group and wholly owns the following subsidiaries: Total Asia Food Bristol Ltd (09129172), Total Asia Food Ltd (08574297), Total Asia Cardiff (14160162 ) and I Packaging Ltd (08329946).
At the end of the financial year the company owed the following:
- Total Asia Food Ltd: £283,928 (2022: £436,562)
- Total Asia Food Bristol Ltd: £1,311,583 (2022: £1,313,125)
- I Packaging Ltd: £33,149 (2022: £22,236)
- Total Asia Cardiff £146,541 (2022: N/A)
13
Average number of employees
During the year the average number of employees was 2 (2022: 2).