Company Registration No. 09129172 (England and Wales)
Total Asia Food Bristol Limited
Unaudited accounts
for the year ended 30 June 2023
Total Asia Food Bristol Limited
Unaudited accounts
Contents
Total Asia Food Bristol Limited
Company Information
for the year ended 30 June 2023
Company Number
09129172 (England and Wales)
Registered Office
Unit 4-5 Liberty Industrial Park
South Liberty Lane
Bristol
BS3 2SU
Accountants
Evans Entwistle
Venta House
Maes-glas
Newport
NP20 2NS
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Total Asia Food Bristol Limited
for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Total Asia Food Bristol Limited for the year ended 30 June 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
Venta House
Maes-glas
Newport
NP20 2NS
5 October 2023
Total Asia Food Bristol Limited
Statement of financial position
as at 30 June 2023
Tangible assets
341,017
258,817
Inventories
522,692
517,889
Debtors
1,748,802
1,783,532
Cash at bank and in hand
211,716
97,777
Creditors: amounts falling due within one year
(2,187,344)
(1,430,207)
Net current assets
295,866
968,991
Total assets less current liabilities
636,883
1,227,808
Creditors: amounts falling due after more than one year
(75,362)
(29,834)
Provisions for liabilities
Deferred tax
(64,793)
(52,089)
Net assets
496,728
1,145,885
Called up share capital
1
1
Profit and loss account
496,727
1,145,884
Shareholders' funds
496,728
1,145,885
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 director acknowledges his 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 and authorised for issue on 5 October 2023 and were signed on its behalf by
Lian Wei Xu
Director
Company Registration No. 09129172
Total Asia Food Bristol Limited
Notes to the Accounts
for the year ended 30 June 2023
Total Asia Food Bristol Limited is a private company, limited by shares, registered in England and Wales, registration number 09129172. The registered office is Unit 4-5 Liberty Industrial Park, South Liberty Lane, Bristol, BS3 2SU.
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:
Land & buildings
50 years - straight line
Motor vehicles
4 years - straight line
Fixtures & fittings
10 years - straight line
Computer equipment
4 years - straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Total Asia Food Bristol Limited
Notes to the Accounts
for the year ended 30 June 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 July 2022
3,472
-
311,643
141,259
14,411
470,785
Additions
-
12,595
165,832
-
-
178,427
At 30 June 2023
3,472
12,595
477,475
141,259
14,411
649,212
At 1 July 2022
526
-
157,180
39,851
14,411
211,968
Charge for the year
69
2,886
79,146
14,126
-
96,227
At 30 June 2023
595
2,886
236,326
53,977
14,411
308,195
At 30 June 2023
2,877
9,709
241,149
87,282
-
341,017
At 30 June 2022
2,946
-
154,463
101,408
-
258,817
Finished goods
522,692
517,889
Amounts falling due within one year
Trade debtors
381,127
444,020
Amounts due from group undertakings etc.
1,311,583
1,313,125
Total Asia Food Bristol Limited
Notes to the Accounts
for the year ended 30 June 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,822
11,083
Obligations under finance leases and hire purchase contracts
6,480
20,069
Trade creditors
1,886,009
1,190,805
Taxes and social security
279,664
159,861
Other creditors
1,169
45,689
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
54,426
-
9
Deferred taxation
2023
2022
Accelerated capital allowances
64,793
52,089
Provision at start of year
52,089
46,994
Charged to the profit and loss account
12,704
5,095
Provision at end of year
64,793
52,089
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
11
Transactions with related parties
At the balance sheet date the company was owed £1,311,583 by Jing Xing Trading Co Ltd (Company number 05125267) (2022: £1,313,125).
The company is a wholly owned subsidiary of Jing Xing Trading Co Ltd (company number 05125267).
13
Average number of employees
During the year the average number of employees was 20 (2022: 24).