Registered number
11317016
Copyright Agency Of China-Uk Ltd.
Report and Accounts
31 December 2023
Copyright Agency Of China-Uk Ltd.
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Accountants' report 3
Profit and loss account 4
Balance sheet 5
Statement of changes in equity 6
Notes to the accounts 7-10
Detailed profit and loss accounts 11
Copyright Agency Of China-Uk Ltd.
Company Information
Directors
Xiuqing Zhao
Accountants
J Wong & Co.
4 Massey House
85 Hartfield Road
London
SW19 3ES
Registered office
4 Massey House
85 Hartfield Road
London
SW19 3ES
Registered number
11317016
Copyright Agency Of China-Uk Ltd.
Registered number: 11317016
Directors' Report
The directors present their report and accounts for the year ended 31 December 2023.
Principal activities
The company's principal activity during the year continued to be a copyright agent.
Directors
The following persons served as directors during the year:
Xiuqing Zhao
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 18 January 2024 and signed on its behalf.
Xiuqing Zhao
Director
Copyright Agency Of China-Uk Ltd.
Report to the directors on the preparation of the unaudited statutory accounts of Copyright Agency Of China-Uk Ltd. for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Copyright Agency Of China-Uk Ltd. for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
J Wong & Co.
Chartered Certified Accountants
4 Massey House
85 Hartfield Road
London
SW19 3ES
18 January 2024
Copyright Agency Of China-Uk Ltd.
Profit and Loss Account
for the year ended 31 December 2023
2023 2022
£ £
Turnover 191,414 197,701
Cost of sales (64,710) (100,133)
Gross profit 126,704 97,568
Administrative expenses (100,676) (109,935)
Operating profit/(loss) 26,028 (12,367)
Profit/(loss) before taxation 26,028 (12,367)
Tax on profit/(loss) (6,889) -
Profit/(loss) for the financial year 19,139 (12,367)
Copyright Agency Of China-Uk Ltd.
Registered number: 11317016
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,626 1,994
Current assets
Debtors 4 24,093 18,020
Cash at bank and in hand 728,762 711,217
752,855 729,237
Creditors: amounts falling due within one year 5 (17,635) (13,524)
Net current assets 735,220 715,713
Net assets 736,846 717,707
Capital and reserves
Called up share capital 10,000 10,000
Share premium 714,937 714,937
Profit and loss account 11,909 (7,230)
Shareholders' funds 736,846 717,707
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Xiuqing Zhao
Director
Approved by the board on 18 January 2024
Copyright Agency Of China-Uk Ltd.
Statement of Changes in Equity
for the year ended 31 December 2023
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 January 2022 10,000 704,283 - 5,137 719,420
Loss for the financial year (12,367) (12,367)
Shares issued - 10,654 10,654
At 31 December 2022 10,000 714,937 - (7,230) 717,707
At 1 January 2023 10,000 714,937 - (7,230) 717,707
Profit for the financial year 19,139 19,139
At 31 December 2023 10,000 714,937 - 11,909 736,846
Copyright Agency Of China-Uk Ltd.
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 3,203
At 31 December 2023 3,203
Depreciation
At 1 January 2023 1,209
Charge for the year 368
At 31 December 2023 1,577
Net book value
At 31 December 2023 1,626
At 31 December 2022 1,994
4 Debtors 2023 2022
£ £
Trade debtors 24,093 16,118
Other debtors - 1,902
24,093 18,020
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,369 4,920
Taxation and social security costs 12,071 7,529
Other creditors 3,195 1,075
17,635 13,524
6 Other information
Copyright Agency Of China-Uk Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
4 Massey House
85 Hartfield Road
London
SW19 3ES
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