Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-3012022-05-01falseNo description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13157149 2022-05-01 2023-04-30 13157149 2023-04-30 13157149 2021-01-25 2022-04-30 13157149 2022-04-30 13157149 c:Director1 2022-05-01 2023-04-30 13157149 d:LeaseholdInvestmentProperty 2022-05-01 2023-04-30 13157149 d:LeaseholdInvestmentProperty 2023-04-30 13157149 d:LeaseholdInvestmentProperty 2022-04-30 13157149 d:CurrentFinancialInstruments 2023-04-30 13157149 d:CurrentFinancialInstruments 2022-04-30 13157149 d:Non-currentFinancialInstruments 2023-04-30 13157149 d:Non-currentFinancialInstruments 2022-04-30 13157149 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 13157149 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 13157149 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 13157149 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 13157149 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 13157149 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-04-30 13157149 d:ShareCapital 2023-04-30 13157149 d:ShareCapital 2022-04-30 13157149 d:RetainedEarningsAccumulatedLosses 2023-04-30 13157149 d:RetainedEarningsAccumulatedLosses 2022-04-30 13157149 c:FRS102 2022-05-01 2023-04-30 13157149 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 13157149 c:FullAccounts 2022-05-01 2023-04-30 13157149 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 13157149 2 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure
Registered number: 13157149


ZHU & SON LTD








UNAUDITED

PAGES FOR FILING WITH REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2023

 
ZHU & SON LTD
REGISTERED NUMBER: 13157149

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
10,788,765
5,050,643

  
10,788,765
5,050,643

Current assets
  

Debtors: amounts falling due within one year
 5 
15,961
1,369,436

Cash at bank and in hand
 6 
435,392
101,565

  
451,353
1,471,001

Creditors: amounts falling due within one year
 7 
(6,875,792)
(4,580,152)

Net current liabilities
  
 
 
(6,424,439)
 
 
(3,109,151)

Total assets less current liabilities
  
4,364,326
1,941,492

Creditors: amounts falling due after more than one year
 8 
(4,471,938)
(1,950,724)

  

Net liabilities
  
(107,612)
(9,232)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(108,612)
(10,232)

  
(107,612)
(9,232)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
ZHU & SON LTD
REGISTERED NUMBER: 13157149
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 








................................................
George Jianqi Zhu
Director

Date: 28 November 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ZHU & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

1.


General information

The company is a private limited company which is incorporated and domiciled in the UK. The address of its registered office is 1 Vincent Square, London, SW1P 2PN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

Despite the negative shareholder funds of £443,447, the director is able to continue to finance the company to pay for its day to day liabilites as they fall due and therefore the accounts are prepared on a going concern basis.  

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
ZHU & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Investment property

Investment property is carried at fair value determined annually by the directors' and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
ZHU & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2022 - 1).

Page 5

 
ZHU & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 May 2022
5,050,643


Additions at cost
5,738,122



At 30 April 2023
10,788,765

For properties acquired in the current financial year cost is considered an accurate reflectection of their fair value. Furthermore, for investment properties acquired last year the director has decided fair value is carried at cost.



At 30 April 2023





5.


Debtors

2023
2022
£
£


Trade debtors
1,421
25,646

Other debtors
714
1,342,742

Prepayments and accrued income
13,826
1,048

15,961
1,369,436



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
435,392
101,565

435,392
101,565


Page 6

 
ZHU & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
6,863,442
4,575,687

Accruals and deferred income
12,350
4,465

6,875,792
4,580,152



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
4,471,938
1,950,724

4,471,938
1,950,724



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£



Amounts falling due 2-5 years

Bank loans
4,471,939
1,950,724


4,471,939
1,950,724


4,471,939
1,950,724


The bank loans are secured by a fixed and floating charges by various institutions over the investment properties held by the company.


10.


Related party transactions

As at the period end, the director, G Zhu was owed an amount of £6,860,707 (2022: 4,575,688) from the company. There are no strict repayment terms in place and no interest accruing on the balance.

 
Page 7