2023-01-012023-12-312023-12-31falseSC738484SUNHOPE PACKAGING MACHINERY (UK) 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SUNHOPE PACKAGING MACHINERY (UK) LTD

Registered Number
SC738484
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2023

SUNHOPE PACKAGING MACHINERY (UK) LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Zhu Dong
Andrew Innes Lindsay

Registered Address

Unit 4 Faraday Road
Southfield Industrial Estate
Glenrothes
KY6 2RU

Registered Number

SC738484 (Scotland)
SUNHOPE PACKAGING MACHINERY (UK) LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3479,065321,175
479,065321,175
Current assets
Debtors16,85470,793
Cash at bank and on hand215,846169,420
232,700240,213
Creditors amounts falling due within one year5(14,884)(5,808)
Net current assets (liabilities)217,816234,405
Total assets less current liabilities696,881555,580
Creditors amounts falling due after one year6(799,900)(575,900)
Provisions for liabilities(22,403)-
Net assets(125,422)(20,320)
Capital and reserves
Called up share capital100100
Profit and loss account(125,522)(20,420)
Shareholders' funds(125,422)(20,320)
The financial statements were approved and authorised for issue by the Board of Directors on 29 February 2024, and are signed on its behalf by:
Andrew Innes Lindsay
Director
Zhu Dong
Director

Registered Company No. SC738484
SUNHOPE PACKAGING MACHINERY (UK) LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The financial statements have been prepared on the going concern basis. The company finds it appropriate for the financial statements to be prepared on this basis despite the net liability position of the company. The company is reliant upon the continued support of the parent company who have confirmed it will not withdraw their intercompany loan account to the detriment of other creditors and will continue to support the company as required.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Fixtures and fittings25-
Office Equipment25-
2.Average number of employees

20232022
Average number of employees during the year33
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 January 23322,953--322,953
Additions158,1731,2606,696166,129
At 31 December 23481,1261,2606,696489,082
Depreciation and impairment
At 01 January 231,778--1,778
Charge for year7,4091856458,239
At 31 December 239,18718564510,017
Net book value
At 31 December 23471,9391,0756,051479,065
At 31 December 22321,175--321,175
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables-3,000
Other debtors7,55463,787
Prepayments and accrued income9,3004,006
Total16,85470,793
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables8,7263,253
Bank borrowings and overdrafts622-
Taxation and social security2,5231,092
Other creditors312-
Accrued liabilities and deferred income2,7011,463
Total14,8845,808
6.Creditors: amounts due after one year

2023

2022

££
Amounts owed to related parties799,900575,900
Total799,900575,900