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Registered Number: 12136238
England and Wales

 

 

 

HANG WON HONG MANCHESTER LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2022

End date: 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hang Won Hong Manchester Limited for the year ended 31 August 2023 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of Hang Won Hong Manchester Limited, as a body, in accordance with the terms of our engagement letter dated 22 July 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Hang Won Hong Manchester Limited and state those matters that we have agreed to state to the Board of Directors of Hang Won Hong Manchester Limited, as a body, in this report in accordance with AAF 2/10 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hang Won Hong Manchester Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Hang Won Hong Manchester Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and Profit of Hang Won Hong Manchester Limited. You consider that Hang Won Hong Manchester Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hang Won Hong Manchester Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.



....................................................
P and Co (Partners) LLP
18 Ensign Street
London
E1 8PA
01 August 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 123,659    6,666 
123,659    6,666 
Current assets      
Stocks 4 101,769    204,091 
Debtors 5 573,817    390,572 
Cash at bank and in hand 389,349    333,693 
1,064,935    928,356 
Creditors: amount falling due within one year 6 (469,720)   (422,296)
Net current assets 595,215    506,060 
 
Total assets less current liabilities 718,874    512,726 
Creditors: amount falling due after more than one year 7 (59,874)   (12,013)
Provisions for liabilities 8 (120,000)   (120,000)
Net assets 539,000    380,713 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 538,900    380,613 
Shareholders' funds 539,000    380,713 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 01 August 2024 and were signed by:


-------------------------------
Fung Mee Chan
Director
2
General Information
Hang Won Hong Manchester Limited is a private company, limited by shares, registered in England and Wales, registration number 12136238, registration address 18 Ensign Street, London, United Kingdom, E1 8PA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 10 (2022 : 11).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 September 2022 28    14,625    1,173    15,826 
Additions     128,509    128,509 
Disposals      
At 31 August 2023 28    14,625    129,682    144,335 
Depreciation
At 01 September 2022 28    8,455    677    9,160 
Charge for year   1,543    9,973    11,516 
On disposals      
At 31 August 2023 28    9,998    10,650    20,676 
Net book values
Closing balance as at 31 August 2023   4,627    119,032    123,659 
Opening balance as at 01 September 2022   6,170    496    6,666 


4.

Stocks

2023
£
  2022
£
Stocks 101,769    204,091 
101,769    204,091 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 526,199    303,557 
Prepayments & Accrued Income 22,951    20,197 
Other Debtors   65,316 
VAT 24,667    1,502 
573,817    390,572 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 350,974    345,215 
Corporation Tax 87,028    65,448 
PAYE & Social Security 2,662    2,468 
Accrued Expenses 27,537    8,611 
Other Creditors 1,519    554 
469,720    422,296 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Other Creditors 59,874    12,013 
59,874    12,013 

8.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions 120,000    120,000 
120,000    120,000 

3