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REGISTERED NUMBER: 12675797 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Hello Oriental (Oxford Rd) Limited

Hello Oriental (Oxford Rd) Limited (Registered number: 12675797)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hello Oriental (Oxford Rd) Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mrs D Fong Ching Yip
R K H Yip
J Yip
A M Kourah





REGISTERED OFFICE: Treasure House Greenside Way
Greengate Industrial Park
Middleton
Manchester
Lancashire
M24 1SW





REGISTERED NUMBER: 12675797 (England and Wales)





ACCOUNTANTS: Lucas Reis Ltd
Chartered Accountants
Lansdowne House
85 Buxton Road
Stockport
Cheshire
SK2 6LR

Hello Oriental (Oxford Rd) Limited (Registered number: 12675797)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,546,609 1,660,916

CURRENT ASSETS
Stocks 35,114 9,624
Debtors 5 44,473 64,682
Cash at bank and in hand 17,332 18,043
96,919 92,349
CREDITORS
Amounts falling due within one year 6 2,548,895 2,415,159
NET CURRENT LIABILITIES (2,451,976 ) (2,322,810 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(905,367

)

(661,894

)

PROVISIONS FOR LIABILITIES 113,783 142,228
NET LIABILITIES (1,019,150 ) (804,122 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,019,250 ) (804,222 )
SHAREHOLDERS' FUNDS (1,019,150 ) (804,122 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Hello Oriental (Oxford Rd) Limited (Registered number: 12675797)

Balance Sheet - continued
31 May 2023


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2024 and were signed on its behalf by:





R K H Yip - Director


Hello Oriental (Oxford Rd) Limited (Registered number: 12675797)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Hello Oriental (Oxford Rd) 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 20% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hello Oriental (Oxford Rd) Limited (Registered number: 12675797)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 59 (2022 - 36 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 1,068,914 944,087 2,013,001
Additions 95,427 46,867 142,294
At 31 May 2023 1,164,341 990,954 2,155,295
DEPRECIATION
At 1 June 2022 156,568 195,517 352,085
Charge for year 106,890 149,711 256,601
At 31 May 2023 263,458 345,228 608,686
NET BOOK VALUE
At 31 May 2023 900,883 645,726 1,546,609
At 31 May 2022 912,346 748,570 1,660,916

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 3,292 634
Other debtors 41,181 64,048
44,473 64,682

Hello Oriental (Oxford Rd) Limited (Registered number: 12675797)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 53,852 22,030
Trade creditors 396,623 609,220
Taxation and social security 145,154 23,777
Other creditors 1,953,266 1,760,132
2,548,895 2,415,159

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.23 31.5.22
£    £   
Within one year 130,000 130,000
Between one and five years 520,000 520,000
In more than five years 390,000 520,000
1,040,000 1,170,000

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Loan from Chi Yip Group Ltd 1,402,400 1,402,400
Bank loans and overdrafts 53,852 -
1,456,252 1,402,400

The loan from Chi Yip Group Limited is secured by way of a fixed and floating charge over the company leasehold property.
Bank loans and overdrafts are secured by means of a fixed and floating charge over all of the company's assets.

Hello Oriental (Oxford Rd) Limited (Registered number: 12675797)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
A M Kourah
Balance outstanding at start of year (342,750 ) (200,000 )
Amounts advanced 6,500 4,250
Amounts repaid - (147,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (336,250 ) (342,750 )

R K H Yip
Balance outstanding at start of year (38 ) -
Amounts advanced 1,030 250
Amounts repaid (1,030 ) (288 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (38 ) (38 )

10. ULTIMATE CONTROLLING PARTY

No ultimate controlling party.