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Company Registration No. 12055351 (England and Wales)
Xu & Lee Catering Ltd Unaudited accounts for the year ended 30 June 2024
Xu & Lee Catering Ltd Unaudited accounts Contents
Page
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Xu & Lee Catering Ltd Company Information for the year ended 30 June 2024
Director
Peng Xu
Company Number
12055351 (England and Wales)
Registered Office
Unit A1, Acre Business Park Acre Road Reading Berkshire RG2 0SA United Kingdom
Accountants
Tax Return Accountants Ltd 26 Spinning Wheel Way Hackbridge WALLINGTON GB SM6 7DS
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Xu & Lee Catering Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
24,773 
30,967 
Current assets
Inventories
17,158 
25,028 
Debtors
603 
603 
Cash at bank and in hand
1,864 
919 
19,625 
26,550 
Creditors: amounts falling due within one year
(9,316)
(8,510)
Net current assets
10,309 
18,040 
Total assets less current liabilities
35,082 
49,007 
Creditors: amounts falling due after more than one year
(418,010)
(388,930)
Net liabilities
(382,928)
(339,923)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(382,929)
(339,924)
Shareholders' funds
(382,928)
(339,923)
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 August 2024 and were signed on its behalf by
Peng Xu Director Company Registration No. 12055351
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Xu & Lee Catering Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Xu & Lee Catering Ltd is a private company, limited by shares, registered in England and Wales, registration number 12055351. The registered office is Unit A1, Acre Business Park, Acre Road, Reading, Berkshire, RG2 0SA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20%
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that: - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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Xu & Lee Catering Ltd Notes to the Accounts for the year ended 30 June 2024
Going concern
The director acknowledges the latest guidance on going concern. After assessing the outcome of the business and with consideration of the Company's balance sheet position, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of twelve months from the date of the approval of the financial statements and, therefore, he continues to adopt the going concern basis in preparing the annual financial statements.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 July 2023
72,576 
At 30 June 2024
72,576 
Depreciation
At 1 July 2023
41,609 
Charge for the year
6,194 
At 30 June 2024
47,803 
Net book value
At 30 June 2024
24,773 
At 30 June 2023
30,967 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
603 
603 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
1,300 
1,300 
Taxes and social security
1,284 
1,137 
Other creditors
4,760 
4,760 
Loans from directors
1,972 
1,313 
9,316 
8,510 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
35,010 
44,430 
Loans from directors
383,000 
344,500 
418,010 
388,930 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
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Xu & Lee Catering Ltd Notes to the Accounts for the year ended 30 June 2024
9
Transactions with related parties
The company is controlled by the director Mr Peng Xu and he is the hundred percent shareholder. The director made a loan of £383,000 to the company, being interest free, unsecured and repayable by demand.
10
Average number of employees
During the year the average number of employees was 2 (2023: 3).
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