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REGISTERED NUMBER: SC268270 (Scotland)




















Hong Kong Takeaway Edinburgh Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023






Hong Kong Takeaway Edinburgh Limited (Registered number: SC268270)






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


Hong Kong Takeaway Edinburgh Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mr W Lee



SECRETARY: Mrs J Y T Lee



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC268270 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: TSB
28 Hanover Street
Edinburgh
EH2 2DS

Hong Kong Takeaway Edinburgh Limited (Registered number: SC268270)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 122 246
122 246

CURRENT ASSETS
Stocks 1,650 1,300
Debtors 6 390 1,277
Cash at bank and in hand 10,147 14,583
12,187 17,160
CREDITORS
Amounts falling due within one year 7 17,745 16,502
NET CURRENT (LIABILITIES)/ASSETS (5,558 ) 658
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,436

)

904

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (5,536 ) 804
SHAREHOLDERS' FUNDS (5,436 ) 904

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 director acknowledges his 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.

Hong Kong Takeaway Edinburgh Limited (Registered number: SC268270)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 January 2024 and were signed by:





Mr W Lee - Director


Hong Kong Takeaway Edinburgh Limited (Registered number: SC268270)

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

1. STATUTORY INFORMATION

Hong Kong Takeaway Edinburgh Limited is a private company, limited by shares , registered in Scotland. 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 and revenue recognition
Turnover, which represents gross invoiced sales of goods, is recognised at the point when a meal is served or delivered to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

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

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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


Hong Kong Takeaway Edinburgh Limited (Registered number: SC268270)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 15,000
AMORTISATION
At 1 June 2022
and 31 May 2023 15,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

Hong Kong Takeaway Edinburgh Limited (Registered number: SC268270)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 3,152
DEPRECIATION
At 1 June 2022 2,906
Charge for year 124
At 31 May 2023 3,030
NET BOOK VALUE
At 31 May 2023 122
At 31 May 2022 246

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 390 1,277

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 472 2,806
Other creditors 17,273 13,696
17,745 16,502

The director's current account is unsecured, interest free and has no fixed repayment period.

8. SECURED DEBTS

On 13/03/2014, a standard security was created in favour of TSB Bank plc over the property at 6 Wardieburn Drive in Edinburgh. The property was disposed to the director in 2019.