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Registration number: 13382074

Cabochon Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2023

 

Cabochon Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Abridged Financial Statements

5 to 7

 

Cabochon Ltd

Company Information

Directors

Mr C V Hua

Ms L N Nguyen

Registered office

1st Floor
44 Worship Street
London
EC2A 2EA

Accountants

Tan Lam Partnership
Chartered Certified Accountants
1st Floor, 44 Worship Street
London
EC2A 2EA

 

Cabochon Ltd

(Registration number: 13382074)
Abridged Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

2,507,387

375

Current assets

 

Cash at bank and in hand

 

30,879

5,171

Prepayments and accrued income

 

860

-

Creditors: Amounts falling due within one year

(1,495,756)

(9,900)

Net current liabilities

 

(1,464,017)

(4,729)

Total assets less current liabilities

 

1,043,370

(4,354)

Creditors: Amounts falling due after more than one year

(1,024,165)

-

Accruals and deferred income

 

(3,060)

(1,080)

Net assets/(liabilities)

 

16,145

(5,434)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

16,045

(5,534)

Shareholders' funds/(deficit)

 

16,145

(5,434)

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 22 February 2024 and signed on its behalf by:
 

 

Cabochon Ltd

(Registration number: 13382074)
Abridged Balance Sheet as at 31 May 2023

.........................................
Mr C V Hua
Director

 

Cabochon Ltd

Statement of Changes in Equity for the Year Ended 31 May 2023

Share capital
£

Retained earnings
£

Total
£

At 1 June 2022

100

(5,534)

(5,434)

Profit for the year

-

31,579

31,579

Dividends

-

(10,000)

(10,000)

At 31 May 2023

100

16,045

16,145

Share capital
£

Retained earnings
£

Total
£

Loss for the year

-

(5,534)

(5,534)

New share capital subscribed

100

-

100

At 31 May 2022

100

(5,534)

(5,434)

 

Cabochon Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor
44 Worship Street
London
EC2A 2EA

These financial statements were authorised for issue by the Board on 22 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Cabochon Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Cabochon Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 1).