Registration number:
Baojungian Theory Limited
for the Year Ended 31 May 2023
Baojungian Theory Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Baojungian Theory Limited
Company Information
Director |
B Bonch Cruchet |
Registered office |
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Accountants |
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Baojungian Theory Limited
(Registration number: 13401533)
Balance Sheet as at 31 May 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investment property |
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- |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
- |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
1,895 |
- |
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Shareholders' funds |
1,897 |
2 |
For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Baojungian Theory Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
General information |
The company is a private company limited by share capital, incorporated in UK.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occured. This is stated after trade discounts and other sales taxes.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Baojungian Theory Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Investment properties |
2023 |
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Additions |
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At 31 May |
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Investment property has been recognised in the financial statements at historic cost which is considered to be consistent with the fair market value.
Baojungian Theory Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Taxation and social security |
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- |
Accruals and deferred income |
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- |
Other creditors |
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- |
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- |
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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- |
2023 |
2022 |
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Due after more than five years |
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After more than five years not by instalments |
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- |
Creditors include bank loans not repayable by instalments of £237,938.00 (2022 - £0.00) due after more than five years.
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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- |
Baojungian Theory Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
The bank loans are secured by way of fixed and floating charge over the assets of the company.
Related party transactions |
Included in other creditors is an amount of £222,097 owed to B Bonch Cruchet, the director of the company.