2022-06-012023-05-312023-05-31false11781416AUMBOW GLOBAL LINK 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AUMBOW GLOBAL LINK LTD

Registered Number
11781416
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

AUMBOW GLOBAL LINK LTD
Company Information
for the year from 1 June 2022 to 31 May 2023

Director

HUANG, Wei

Registered Address

Unit 1, Expedite House
Etruscan Street
Etruria
ST1 5PQ

Registered Number

11781416 (England and Wales)
AUMBOW GLOBAL LINK LTD
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets34,2716,407
Investment property41,337,7671,337,767
1,342,0381,344,174
Current assets
Debtors59,919209,212
Cash at bank and on hand37776,417
60,296285,629
Creditors amounts falling due within one year5(925,359)(1,125,920)
Net current assets (liabilities)(865,063)(840,291)
Total assets less current liabilities476,975503,883
Creditors amounts falling due after one year6(722,696)(755,928)
Net assets(245,721)(252,045)
Capital and reserves
Called up share capital100100
Profit and loss account(245,821)(252,145)
Shareholders' funds(245,721)(252,045)
The financial statements were approved and authorised for issue by the Director on 22 April 2024, and are signed on its behalf by:
HUANG, Wei
Director
Registered Company No. 11781416
AUMBOW GLOBAL LINK LTD
Notes to the Financial Statements
for the year ended 31 May 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover includes rental income, service charge income and fulfilment fees measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Rental income and service charges are recognised on a straight-line basis over the lease term. Fulfilment fees are 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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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
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.
Tangible fixed assets and depreciation
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:

Reducing balance (%)
Plant and machinery25
Vehicles25
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year42
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 June 2210,3001,76012,060
At 31 May 2310,3001,76012,060
Depreciation and impairment
At 01 June 225,1105435,653
Charge for year1,7304062,136
At 31 May 236,8409497,789
Net book value
At 31 May 233,4608114,271
At 31 May 225,1901,2176,407
4.Investment property
Investment properties comprises The Deiniol Shopping Centre, Bangor, LL57 1NW, Wales and is measured at cost. Although no valuation of the property has been carried out since acquisition, the director is of the opinion that the reported value of the investment property represents the fair value at the reporting end date.

£
Fair value at 01 June 221,337,767
At 31 May 231,337,767
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables23,294106,220
Bank borrowings and overdrafts144,000150,023
Taxation and social security1,98423,587
Other creditors756,081760,964
Accrued liabilities and deferred income-85,126
Total925,3591,125,920
Other creditors represented amount due to director.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts722,696755,928
Total722,696755,928
Creditors included secured bank loan of £861,374 (2022: £852,586), which is secured by way of fixed and floating charges on all property or undertakings of the company