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REGISTERED NUMBER: 04766149 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

FU-TZE LIMITED

FU-TZE LIMITED (REGISTERED NUMBER: 04766149)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


FU-TZE LIMITED (REGISTERED NUMBER: 04766149)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 109,970 148,318
109,970 148,318

CURRENT ASSETS
Stocks - 5,000
Debtors 6 101,778 2,166
Cash at bank and in hand 241,220 264,455
342,998 271,621
CREDITORS
Amounts falling due within one year 7 28,014 120,630
NET CURRENT ASSETS 314,984 150,991
TOTAL ASSETS LESS CURRENT
LIABILITIES

424,954

299,309

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 424,854 299,209
SHAREHOLDERS' FUNDS 424,954 299,309

FU-TZE LIMITED (REGISTERED NUMBER: 04766149)

BALANCE SHEET - continued
31 MARCH 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:




Mrs C M W Li - Director



Mr J J L Li - Director


FU-TZE LIMITED (REGISTERED NUMBER: 04766149)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Fu-Tze Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04766149

Registered office: Fullam Restaurant
18 Tuly Street
BARNSTAPLE
North Devon
EX31 1DH

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

FU-TZE LIMITED (REGISTERED NUMBER: 04766149)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022 495,000
Disposals (480,000 )
At 31 March 2023 15,000
AMORTISATION
At 1 April 2022 495,000
Eliminated on disposal (480,000 )
At 31 March 2023 15,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Land and Plant and and
buildings machinery fittings
£    £    £   
COST
At 1 April 2022 525,330 46,547 192,316
Disposals - (46,547 ) (43,678 )
At 31 March 2023 525,330 - 148,638
DEPRECIATION
At 1 April 2022 405,096 40,684 170,366
Charge for year 25,500 - 4,784
Eliminated on disposal - (40,684 ) (41,566 )
At 31 March 2023 430,596 - 133,584
NET BOOK VALUE
At 31 March 2023 94,734 - 15,054
At 31 March 2022 120,234 5,863 21,950

FU-TZE LIMITED (REGISTERED NUMBER: 04766149)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 1,980 2,397 768,570
Disposals - - (90,225 )
At 31 March 2023 1,980 2,397 678,345
DEPRECIATION
At 1 April 2022 1,959 2,147 620,252
Charge for year 5 84 30,373
Eliminated on disposal - - (82,250 )
At 31 March 2023 1,964 2,231 568,375
NET BOOK VALUE
At 31 March 2023 16 166 109,970
At 31 March 2022 21 250 148,318

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 99,450 -
Prepayments 2,328 2,166
101,778 2,166

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,898 22,497
Trade creditors - 17,417
Corporation tax 6,801 30,891
Social security and other taxes - 9,076
VAT 3,282 24,286
Other creditors 401 6,775
Directors' current accounts 632 941
Accruals and deferred income 3,000 8,747
28,014 120,630

FU-TZE LIMITED (REGISTERED NUMBER: 04766149)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained
earnings
£   

At 1 April 2022 299,209
Profit for the year 158,645
Dividends (33,000 )
At 31 March 2023 424,854