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REGISTERED NUMBER: 06503243 (England and Wales)














Financial Statements

for the Year Ended 28 February 2024

for

Sing Faye Limited

Sing Faye Limited (Registered number: 06503243)

Contents of the Financial Statements
for the Year Ended 28 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sing Faye Limited

Company Information
for the Year Ended 28 February 2024







DIRECTORS: Z N Zhu
Mrs P H Zhu





SECRETARY: Mrs P H Zhu





REGISTERED OFFICE: East Lancs Road
Carr Mill
St Helens
Merseyside
WA11 9AE





REGISTERED NUMBER: 06503243 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Sing Faye Limited (Registered number: 06503243)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,300 12,465

CURRENT ASSETS
Stocks 2,754 2,382
Debtors 5 244,308 201,675
Cash at bank and in hand 247,121 209,315
494,183 413,372
CREDITORS
Amounts falling due within one year 6 156,648 129,453
NET CURRENT ASSETS 337,535 283,919
TOTAL ASSETS LESS CURRENT LIABILITIES 345,835 296,384

PROVISIONS FOR LIABILITIES 1,047 301
NET ASSETS 344,788 296,083

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 344,688 295,983
SHAREHOLDERS' FUNDS 344,788 296,083

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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.

Sing Faye Limited (Registered number: 06503243)

Balance Sheet - continued
28 February 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





Mrs P H Zhu - Director


Sing Faye Limited (Registered number: 06503243)

Notes to the Financial Statements
for the Year Ended 28 February 2024


1. STATUTORY INFORMATION

Sing Faye Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 represents the fair value of sales made to customers, less returns and VAT. Revenue is recognised at the point of sale.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and buildings - 5% on cost
Plant & machinery - 25% on reducing balance
Fixtures & fittings - 25% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Sing Faye Limited (Registered number: 06503243)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 March 2023 50,000 15,833 151,788 217,621
Additions - - 224 224
At 28 February 2024 50,000 15,833 152,012 217,845
DEPRECIATION
At 1 March 2023 45,000 14,156 146,000 205,156
Charge for year 2,500 419 1,470 4,389
At 28 February 2024 47,500 14,575 147,470 209,545
NET BOOK VALUE
At 28 February 2024 2,500 1,258 4,542 8,300
At 28 February 2023 5,000 1,677 5,788 12,465

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Other debtors 237,768 200,500
Prepayments 6,540 1,175
244,308 201,675

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade creditors 28,598 1,898
Tax 24,443 20,333
Social security and other taxes 2,537 237
Pension 325 320
VAT 25,688 18,385
Other creditors 115 -
Directors' current accounts 54,385 79,909
Accrued expenses 20,557 8,371
156,648 129,453

Sing Faye Limited (Registered number: 06503243)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

8. CONTROLLING PARTY

The controlling party is Z N Zhu.