Registered number
10827247
HL Oriental House Limited
Unaudited Filleted Accounts
30 June 2023
HL Oriental House Limited
Registered number: 10827247
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 91,000 97,500
Tangible assets 4 41,122 9,907
132,122 107,407
Current assets
Stocks 15,330 3,410
Debtors 5 86,222 16,747
Cash at bank and in hand 438,977 493,087
540,529 513,244
Creditors: amounts falling due within one year 6 (219,500) (238,937)
Net current assets 321,029 274,307
Net assets 453,151 381,714
Capital and reserves
Called up share capital 100 100
Profit and loss account 453,051 381,614
Shareholder's funds 453,151 381,714
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has 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 H Zhuang
Director
Approved by the board on 6 February 2024
HL Oriental House Limited
Notes to the Accounts
for the year ended 30 June 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery over 5 years
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.
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 9 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2022 130,000
At 30 June 2023 130,000
Amortisation
At 1 July 2022 32,500
Provided during the year 6,500
At 30 June 2023 39,000
Net book value
At 30 June 2023 91,000
At 30 June 2022 97,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2022 26,996 - 26,996
Additions 6,613 37,257 43,870
At 30 June 2023 33,609 37,257 70,866
Depreciation
At 1 July 2022 17,089 - 17,089
Charge for the year 5,204 7,451 12,655
At 30 June 2023 22,293 7,451 29,744
Net book value
At 30 June 2023 11,316 29,806 41,122
At 30 June 2022 9,907 - 9,907
5 Debtors 2023 2022
£ £
Other debtors 86,222 16,747
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 539 4,163
Taxation and social security costs 44,854 69,411
Other creditors 174,107 165,363
219,500 238,937
7 Controlling party
The company is under the control of the director, Mr H Zhuang, by the virtue of his shareholdings in the company.
8 Other information
HL Oriental House Limited is a private company limited by shares and incorporated in England. Its registered office is:
114 Hamlet Court Road
Westcliff on Sea
Essex
SS0 7LP
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