Company Registration No. 10039621 (England and Wales)
Fuxin Express(uk) International Limited
Unaudited accounts
for the year ended 31 August 2023
Fuxin Express(uk) International Limited
Unaudited accounts
Contents
Fuxin Express(uk) International Limited
Company Information
for the year ended 31 August 2023
Company Number
10039621 (England and Wales)
Registered Office
Unit 7&8 Enterprise Way
Maxted Close
Hemel Hempstead
HP2 7YJ
United Kingdom
Fuxin Express(uk) International Limited
Statement of financial position
as at 31 August 2023
Tangible assets
167,333
107,501
Cash at bank and in hand
75,381
28,672
Creditors: amounts falling due within one year
(1,186,167)
(316,536)
Net current liabilities
(729,028)
(40,374)
Net (liabilities)/assets
(561,695)
67,127
Called up share capital
100,000
100,000
Profit and loss account
(661,695)
(32,873)
Shareholders' funds
(561,695)
67,127
For the year ending 31 August 2023 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 her 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 15 August 2024 and were signed on its behalf by
Jiwen MOLICKI
Director
Company Registration No. 10039621
Fuxin Express(uk) International Limited
Notes to the Accounts
for the year ended 31 August 2023
Fuxin Express(uk) International Limited is a private company, limited by shares, registered in England and Wales, registration number 10039621. The registered office is Unit 7&8 Enterprise Way, Maxted Close, Hemel Hempstead, HP2 7YJ, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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:
Land & buildings
10% straight line
Plant & machinery
33.33% straight line
Motor vehicles
25% straight line
Fixtures & fittings
33.33% straight line
Computer equipment
33.33% straight line
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Fuxin Express(uk) International Limited
Notes to the Accounts
for the year ended 31 August 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 September 2022
19,773
10,598
89,184
17,011
6,615
143,181
Additions
-
36,218
89,250
5,801
840
132,109
At 31 August 2023
19,773
46,816
178,434
22,812
7,455
275,290
At 1 September 2022
1,977
3,532
22,296
5,670
2,205
35,680
Charge for the year
1,977
15,604
44,608
7,603
2,485
72,277
At 31 August 2023
3,954
19,136
66,904
13,273
4,690
107,957
At 31 August 2023
15,819
27,680
111,530
9,539
2,765
167,333
At 31 August 2022
17,796
7,066
66,888
11,341
4,410
107,501
Carrying values included above held under finance leases and hire purchase contracts:
£
£
Amounts falling due within one year
Trade debtors
12,399
1,026
Accrued income and prepayments
-
67,811
Other debtors
291,630
105,000
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
307,582
100,269
Amounts owed to group undertakings and other participating interests
830,491
184,648
Taxes and social security
13,771
5,178
Other creditors
34,323
24,616
Fuxin Express(uk) International Limited
Notes to the Accounts
for the year ended 31 August 2023
7
Operating lease commitments
2023
2022
At 31 August 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
175,000
102,083
Later than one year and not later than five years
313,541
510,417
8
Average number of employees
During the year the average number of employees was 16 (2022: 6).