Registered number
08423031
Beijing Dumpling Limited
Unaudited Filleted Accounts
For the year ended
31 July 2023
KHMM
CHARTERED ACCOUNTANTS
7-8 WING YIP BUSINESS CENTRE
395 EDGWARE ROAD
LONDON
NW2 6LN
Tel: 0208 208 2085 Fax: 0208 208 2268
Beijing Dumpling Limited
Registered number: 08423031
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 98,166 126,231
Investments 4 100 100
98,266 126,331
Current assets
Stocks 12,550 9,350
Debtors 5 406,505 392,877
Cash at bank and in hand 187,348 105,873
606,403 508,100
Creditors: amounts falling due within one year 6 (280,662) (281,157)
Net current assets 325,741 226,943
Total assets less current liabilities 424,007 353,274
Creditors: amounts falling due after more than one year 7 (113,815) (168,687)
Provisions for liabilities (16,039) (21,700)
Net assets 294,153 162,887
Capital and reserves
Called up share capital 100 100
Profit and loss account 294,053 162,787
Shareholders' funds 294,153 162,887
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 July 2023 the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Director's responsibilities:
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 KOK WAI GOLMAN LI
Director
Approved by the board on 13 March 2024
Beijing Dumpling Limited
Notes to the Accounts
for the year ended 31 July 2023
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:
Fixtures, fittings, and equipment - 15% per annum on straightline
Motor vehicle(s) - 25% per annum on straightline
Computer equipment - 33.33% per annum on straightline
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 28 24
3 Tangible fixed assets
Computer equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 11,860 95,554 150,524 257,938
Additions 355 4,222 - 4,577
Disposals - - (31,350) (31,350)
At 31 July 2023 12,215 99,776 119,174 231,165
Depreciation
At 1 August 2022 9,382 86,011 36,314 131,707
Charge for the year 1,020 1,827 29,794 32,641
On disposals - - (31,349) (31,349)
At 31 July 2023 10,402 87,838 34,759 132,999
Net book value
At 31 July 2023 1,813 11,938 84,415 98,166
At 31 July 2022 2,478 9,543 114,210 126,231
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 August 2022 100
At 31 July 2023 100
5 Debtors 2023 2022
£ £
Trade debtors 44,137 40,530
Other debtors 362,368 352,347
406,505 392,877
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 30,000 30,000
Obligations under finance lease and hire purchase contracts 7,373 7,373
Trade creditors 29,621 81,111
Taxation and social security costs 155,086 102,729
Other creditors 58,582 59,944
280,662 281,157
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 55,000 102,500
Obligations under finance lease and hire purchase contracts 58,815 66,187
113,815 168,687
8 Other information
Beijing Dumpling Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Wing Yip Business Centre
395 Edgeware Road
London
NW2 6LN
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