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REGISTERED NUMBER: 07747267 (England and Wales)














Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 May 2023

for

Sino International Trading Limited

Sino International Trading Limited (Registered number: 07747267)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Income and Retained Earnings 8

Balance Sheet 9

Notes to the Financial Statements 10


Sino International Trading Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mr N F Oakes
Mr P Lui





REGISTERED OFFICE: Reedham House
31 King Street West
Manchester
Greater Manchester
M3 2PJ





BUSINESS ADDRESS: Prestige House
142 Bury Old Road
Whitefield
Manchester
Greater Manchester
M45 6AT





REGISTERED NUMBER: 07747267 (England and Wales)





AUDITORS: Freedman Frankl & Taylor
Statutory Auditors
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Sino International Trading Limited (Registered number: 07747267)

Strategic Report
for the Year Ended 31 May 2023

Principal activities
The principal activities of the company during the year were trading in roast and aromatic duck products and pork products.

Business Review
The results for the year and financial position as at 31 May 2023 for the company are shown in the annexed financial statements. The results for the year show an improved performance on last year mainly due to increased turnover and savings in overhead expenses. Bird Flu in europe resulted in a shortage of products but the group has performed well due to its strong brand and market presence.

Key Performance Indicators
2023 2022
Turnover £22,096,879 £17,407,252
Gross Margin 13.38% 13.14%
Administrative expenses £917,715 £1,166,876
Net Profit (before tax) £1,826,345 £1,073,591

Principal risks and uncertainties
The financial risks of the company are described below.

Financial risk management
The company operations are exposed to a variety of financial risks mainly the effects of movement in exchange rates, the company has procedures in place to mitigate these by entering into forward exchange contracts to cover forecast supplier purchases.

Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity to meet foreseeable needs through forecasting and to invest cash safely and profitably.

Interest rate risk
The company is exposed to interest rate fluctuations on its borrowings as most of its facilities are at floating rates.The company feel their exposure to material interest rate change is low.

ON BEHALF OF THE BOARD:





Mr N F Oakes - Director


21 February 2024

Sino International Trading Limited (Registered number: 07747267)

Report of the Directors
for the Year Ended 31 May 2023

The directors present their report with the financial statements of the company for the year ended 31 May 2023.

DIVIDENDS
An interim dividend of 1,100.01 per share was paid on . The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 May 2023 will be £ 1,100,001 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2022 to the date of this report.

Mr N F Oakes
Mr P Lui

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr N F Oakes - Director


21 February 2024

Report of the Independent Auditors to the Members of
Sino International Trading Limited

Opinion
We have audited the financial statements of Sino International Trading Limited (the 'company') for the year ended 31 May 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 May 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Sino International Trading Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Sino International Trading Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

Audit response to risks identified
- the nature of the industry and sector, control environment and business performance;
- results of enquiries of management about their own identification and assessment of the risks of irregularities;
- any matters we identified having obtained and reviewed the Company's documentation of their policies and
procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances
of noncompliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or
alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
- the matters discussed among the audit engagement team and involving other internal specialists including tax
regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risks of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation.

Audit response to risks identified
As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud.

Our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with
provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud;
- obtained an understanding of provisions and held discussions with management to understand the basis of
recognition or non-recognition of tax provisions; and

Report of the Independent Auditors to the Members of
Sino International Trading Limited

- in addressing the risks of fraud through management override of controls, testing the appropriateness of journal
entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative
of potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the
normal course of business.We also communicated relevant identified laws and regulations and potential fraud risks
to all engagement team members, and remained alert to any indications of fraud or noncompliance with laws and
regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Samuel Bacall BSc(Hons) BFP ACA (Senior Statutory Auditor)
for and on behalf of Freedman Frankl & Taylor
Statutory Auditors
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

21 February 2024

Sino International Trading Limited (Registered number: 07747267)

Statement of Income and
Retained Earnings
for the Year Ended 31 May 2023

2023 2022
Notes £    £    £    £   

TURNOVER 22,096,879 17,407,252

Cost of sales 19,139,806 15,120,290
GROSS PROFIT 2,957,073 2,286,962

Distribution costs 79,564 82,471
Administrative expenses 889,515 1,166,876
969,079 1,249,347
1,987,994 1,037,615

Other operating income 18,275 48,517
OPERATING PROFIT 4 2,006,269 1,086,132

Interest receivable and similar income 38,262 42,500
2,044,531 1,128,632

Interest payable and similar expenses 5 189,986 55,041
PROFIT BEFORE TAXATION 1,854,545 1,073,591

Tax on profit 6 372,555 205,420
PROFIT FOR THE FINANCIAL YEAR 1,481,990 868,171

Retained earnings at beginning of year 2,872,238 3,104,067

Dividends 7 (1,100,001 ) (1,100,000 )

RETAINED EARNINGS AT END OF
YEAR

3,254,227

2,872,238

Sino International Trading Limited (Registered number: 07747267)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 6,667 10,220
Investments 9 200 500,200
6,867 510,420

CURRENT ASSETS
Stocks 10 3,947,453 2,894,395
Debtors 11 1,801,497 1,290,912
Cash at bank 1,234,679 3,476,246
6,983,629 7,661,553
CREDITORS
Amounts falling due within one year 12 3,734,502 5,297,693
NET CURRENT ASSETS 3,249,127 2,363,860
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,255,994

2,874,280

PROVISIONS FOR LIABILITIES 16 1,667 1,942
NET ASSETS 3,254,327 2,872,338

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 3,254,227 2,872,238
SHAREHOLDERS' FUNDS 3,254,327 2,872,338

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





Mr N F Oakes - Director


Sino International Trading Limited (Registered number: 07747267)

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

1. STATUTORY INFORMATION

Sino International Trading 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Preparation of consolidated financial statements
The financial statements contain information about Sino International Trading Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its ultimate parent, Lui Group Limited, Prestige House, 142 Bury Old Road, Whitefield, Manchester, M45 6AT.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Sino International Trading Limited (Registered number: 07747267)

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

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are disclosed below.

Assessing indicators of impairment
In assessing whether there have been any indicators of impairment assets, the directors have considered both external and internal sources of information such as market conditions and experience of recoverability.

Tangible fixed assets
Tangible fixed assets, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

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

Bank and other interest is recognised in the period in which it is receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 25% on reducing balance

Tangible fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment losses.

Fixed Asset investments

Fixed asset investments other than loans are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

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

Sino International Trading Limited (Registered number: 07747267)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price.

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Leasing commitments
Amounts payable under operating leases are charged to the profit and loss account in the period in which they are incurred.

Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss account over the expected useful lives of the assets concerned. Other grants are credited to the profit and loss account as the related expenditure is incurred.

Going concern
The company's financial statements for the year ended 31st May 2023 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Sino International Trading Limited (Registered number: 07747267)

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

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 352,121 439,979
Social security costs 35,722 37,505
Other pension costs 90,866 172,587
478,709 650,071

The average number of employees during the year was as follows:
2023 2022

Selling & administration 8 10

2023 2022
£    £   
Directors' remuneration 106,530 67,593
Directors' pension contributions to money purchase schemes 40,000 80,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 3,553 4,084
Auditors' remuneration 9,975 9,500
Foreign exchange differences 159,636 324,677

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 189,986 55,041

Sino International Trading Limited (Registered number: 07747267)

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

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 372,830 207,054

Deferred tax (275 ) (1,634 )
Tax on profit 372,555 205,420

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 1,854,545 1,073,591
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

463,636

203,982

Effects of:
Expenses not deductible for tax purposes 1,450 2,296
Capital allowances in excess of depreciation - (858 )
Depreciation in excess of capital allowances 613 -
Adjustment to tax charge in respect of rate change (93,144 ) -
Total tax charge 372,555 205,420

The UK Government announced in the 2021 budget that from 1 April 2023, the rate of corporation tax in the United Kingdom will increase from 19% to 25%.

7. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim 1,100,001 1,100,000

Sino International Trading Limited (Registered number: 07747267)

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

8. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 9,774 12,716 22,490
DEPRECIATION
At 1 June 2022 5,943 6,327 12,270
Charge for year 1,955 1,598 3,553
At 31 May 2023 7,898 7,925 15,823
NET BOOK VALUE
At 31 May 2023 1,876 4,791 6,667
At 31 May 2022 3,831 6,389 10,220

9. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Other investments not loans 200 200
Other loans - 500,000
200 500,200

Additional information is as follows:
Unlisted
investments
£   
COST
At 1 June 2022
and 31 May 2023 200
NET BOOK VALUE
At 31 May 2023 200
At 31 May 2022 200

Sino International Trading Limited (Registered number: 07747267)

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

9. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Chilli Kingdom Limited
Registered office: United Kingdom
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 100 100

Papparich UK Limited
Registered office: United Kingdom
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 100 100
Other
loans
£   
At 1 June 2022 500,000
Repayment in year (500,000 )
At 31 May 2023 -

10. STOCKS
2023 2022
£    £   
Goods for resale 3,947,453 2,894,395

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,724,214 1,213,251
Other debtors 8,766 10,131
Other taxes 23,113 17,637
Prepayments 45,404 49,893
1,801,497 1,290,912

Sino International Trading Limited (Registered number: 07747267)

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

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 13) 2,481,185 3,780,806
Trade creditors 756,056 1,214,670
Amounts owed to group undertakings 242 242
Tax 372,830 207,054
Social security and other taxes 5,960 5,376
Other creditors 9,763 18,248
Accrued expenses 108,466 71,297
3,734,502 5,297,693

13. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 2,481,185 3,780,806

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 47,862 21,542
Between one and five years 38,005 30,696
85,867 52,238

15. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 2,481,185 3,780,806

16. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,667 1,942

Sino International Trading Limited (Registered number: 07747267)

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

16. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 1,942
Credit to Income Statement during year (275 )
Balance at 31 May 2023 1,667

Analysis of deferred tax balance

2023 2022
£ £
Accelerated capital allowances1,6671,942

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

18. RESERVES
Retained
earnings
£   

At 1 June 2022 2,872,238
Profit for the year 1,481,990
Dividends (1,100,001 )
At 31 May 2023 3,254,227

19. RELATED PARTY DISCLOSURES

During the year the company sold services to the value of £8,400 (2022: £8,400) and at the year end owed £8,376 (2022: £17,112) to Land Treasure Property Limited, a company in which the directors have material interests.

20. ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking at the balance sheet date was Lui Group Limited, a company incorporated and registered in England and Wales.

The company's parent undertaking at the balance sheet date was Lui Holdings Limited, a company incorporated and registered in England and Wales. Copies of the financial statements of Lui Holdings Limited can be obtained from Prestige House, 142 Bury Old Road, Whitefield, Manchester, M45 6AT.