Registered number
08825372
ZHE Limited
Filleted Accounts
31 December 2021
ZHE Limited
Registered number: 08825372
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 2,786 3,482
Current assets
Stocks - 79,006
Debtors 4 38,861 13,479
Cash at bank and in hand 15,573 86,814
54,434 179,299
Creditors: amounts falling due within one year 5 (40,129) (57,129)
Net current assets 14,305 122,170
Total assets less current liabilities 17,091 125,652
Creditors: amounts falling due after more than one year 6 (49,113) (50,000)
Net (liabilities)/assets (32,022) 75,652
Capital and reserves
Called up share capital 100 100
Profit and loss account (32,122) 75,552
Shareholders' funds (32,022) 75,652
Average number of employees - 1
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Y Zhang
Director
Approved by the board on 22 February 2024
ZHE Limited
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company - 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021 9,028
At 31 December 2021 9,028
Depreciation
At 1 January 2021 5,546
Charge for the year 696
At 31 December 2021 6,242
Net book value
At 31 December 2021 2,786
At 31 December 2020 3,482
4 Debtors 2021 2020
£ £
Other debtors 38,861 13,479
5 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 10,158 -
Trade creditors - 16,047
Corporation tax - 17,245
Other taxes and social security costs - 658
Other creditors 29,971 23,179
40,129 57,129
6 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 49,113 50,000
7 Other information
ZHE Limited is a private company limited by shares and incorporated in England. Its registered office is:
Twelve Quays House
Egerton Wharf
Wirral
Cheshire
CH41 1LD
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