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UK-CHINA TRADING LIMITED

Registered Number
07390224
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

UK-CHINA TRADING LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

LI, Bing
O'LOONEY, Damien Vincent

Company Secretary

LI, Bing

Registered Address

50 Princes Street Princes Street
Ipswich
IP1 1RJ

Registered Number

07390224 (England and Wales)
UK-CHINA TRADING LIMITED
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets57,2886,355
7,2886,355
Current assets
Debtors6343,0807,506,412
Cash at bank and on hand986,9813,941,189
1,330,06111,447,601
Creditors amounts falling due within one year7(12,848)(104,765)
Net current assets (liabilities)1,317,21311,342,836
Total assets less current liabilities1,324,50111,349,191
Creditors amounts falling due after one year8(44,325)(79,325)
Net assets1,280,17611,269,866
Capital and reserves
Profit and loss account1,280,17611,269,866
Shareholders' funds1,280,17611,269,866
The financial statements were approved and authorised for issue by the Board of Directors on 2 February 2024, and are signed on its behalf by:
O'LOONEY, Damien Vincent
Director
Registered Company No. 07390224
UK-CHINA TRADING LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.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.
2.Compliance with applicable reporting framework
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.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
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.
Foreign currency translation and operations policy
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year44
5.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 October 2210,97610,976
Additions2,2772,277
At 30 September 2313,25313,253
Depreciation and impairment
At 01 October 224,6214,621
Charge for year1,3441,344
At 30 September 235,9655,965
Net book value
At 30 September 237,2887,288
At 30 September 226,3556,355
6.Debtors

2023

2022

££
Trade debtors / trade receivables138,546377,106
Other debtors65,46822,884
Other debtors (Non-current)139,0667,106,422
Total343,0807,506,412
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.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables8,14351,701
Taxation and social security4,70551,259
Payments received on account-1,805
Total12,848104,765
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.
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts44,32579,325
Total44,32579,325