IRIS Accounts Production v24.2.0.383 04434518 director 1.12.22 30.11.23 30.11.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh044345182022-11-30044345182023-11-30044345182022-12-012023-11-30044345182021-11-30044345182021-12-012022-11-30044345182022-11-3004434518ns15:EnglandWales2022-12-012023-11-3004434518ns14:PoundSterling2022-12-012023-11-3004434518ns10:Director12022-12-012023-11-3004434518ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3004434518ns10:SmallEntities2022-12-012023-11-3004434518ns10:AuditExemptWithAccountantsReport2022-12-012023-11-3004434518ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3004434518ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3004434518ns10:AbridgedAccounts2022-12-012023-11-3004434518ns10:RegisteredOffice2022-12-012023-11-3004434518ns5:CurrentFinancialInstruments2022-11-3004434518ns5:CurrentFinancialInstruments2023-11-3004434518ns5:ShareCapital2022-11-3004434518ns5:ShareCapital2023-11-3004434518ns5:RevaluationReserve2022-11-3004434518ns5:RevaluationReserve2023-11-3004434518ns5:FurtherSpecificReserve3ComponentTotalEquity2023-11-3004434518ns5:RetainedEarningsAccumulatedLosses2022-11-3004434518ns5:RetainedEarningsAccumulatedLosses2023-11-3004434518ns5:PlantMachinery2022-12-012023-11-3004434518ns5:RevaluationReserve2022-11-3004434518ns5:FurtherSpecificReserve3ComponentTotalEquity2022-11-30044345181ns10:Director12022-11-30044345181ns10:Director12021-11-30044345181ns10:Director12022-12-012023-11-30044345181ns10:Director12021-12-012022-11-30044345181ns10:Director12023-11-30044345181ns10:Director12022-11-30
REGISTERED NUMBER: 04434518 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

TAK FONG LIMITED

TAK FONG LIMITED (REGISTERED NUMBER: 04434518)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

TAK FONG LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTOR: W F M Ho





REGISTERED OFFICE: Danesbury House
49 Cardiff Road
Luton
Befordshire
LU1 1PP





REGISTERED NUMBER: 04434518 (England and Wales)





ACCOUNTANTS: F E Hawkes & Co Limited
'Danesbury House'
49 Cardiff Road
Luton
Bedfordshire
LU1 1PP

TAK FONG LIMITED (REGISTERED NUMBER: 04434518)

ABRIDGED BALANCE SHEET
30 November 2023

2022 2023
£    Notes £   
FIXED ASSETS
9,808 Tangible assets 4 10,034
6,500,000 Investment property 5 6,500,000
6,509,808 6,510,034

CURRENT ASSETS
60,023 Debtors 94,993
135,825 Cash at bank 122,584
195,848 217,577
CREDITORS
(635,870 ) Amounts falling due within one year (617,952 )
(440,022 ) NET CURRENT LIABILITIES (400,375 )
6,069,786 TOTAL ASSETS LESS CURRENT
LIABILITIES

6,109,659

(530,807 ) PROVISIONS FOR LIABILITIES (530,807 )
5,538,979 NET ASSETS 5,578,852

CAPITAL AND RESERVES
1 Called up share capital 1
1,383,917 Revaluation reserve 6 1,383,917
2,893,658 Fair value reserve 6 2,893,658
1,261,403 Retained earnings 1,301,276
5,538,979 5,578,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

TAK FONG LIMITED (REGISTERED NUMBER: 04434518)

ABRIDGED BALANCE SHEET - continued
30 November 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





W F M Ho - Director


TAK FONG LIMITED (REGISTERED NUMBER: 04434518)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

Tak Fong Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04434518 and the registered office is Danesbury House, 49 Cardiff Road, Luton, Bedfordshire, LU1 1PP.

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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment, fixtures & fittings - 15% on reducing balance

Investment property
Investment property is included at fair value. Gains are recognized in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

TAK FONG LIMITED (REGISTERED NUMBER: 04434518)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022 26,492
Additions 1,719
At 30 November 2023 28,211
DEPRECIATION
At 1 December 2022 16,684
Charge for year 1,493
At 30 November 2023 18,177
NET BOOK VALUE
At 30 November 2023 10,034
At 30 November 2022 9,808

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 6,500,000
NET BOOK VALUE
At 30 November 2023 6,500,000
At 30 November 2022 6,500,000

The investment properties at the balance sheet date are stated at fair value on current prices on an active market. The value by the director has been carried out with the support of appropriate independent valuers.

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2019 3,424,465
Cost 3,075,535
6,500,000

6. RESERVES
Fair
Revaluation value
Totals reserve reserve
£    £    £   
At 1 December 2022
and 30 November 2023 4,277,575 1,383,917 2,893,658

TAK FONG LIMITED (REGISTERED NUMBER: 04434518)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023


7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
W F M Ho
Balance outstanding at start of year 533,398 526,435
Amounts advanced 6,829 6,963
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 540,227 533,398

TAK FONG LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
TAK FONG LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






F E Hawkes & Co Limited
'Danesbury House'
49 Cardiff Road
Luton
Bedfordshire
LU1 1PP


28 August 2024