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REGISTERED NUMBER: 11038784 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SC BEDFORD LIMITED

SC BEDFORD LIMITED (REGISTERED NUMBER: 11038784)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SC BEDFORD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr R Tang
Ms S Kan





REGISTERED OFFICE: S2 Mill House Centre
108 Commercial Road
Totton
Southampton
Hampshire
SO40 3AE





REGISTERED NUMBER: 11038784 (England and Wales)





ACCOUNTANTS: TBW Accountancy Limited
S2 Mill House Centre
108 Commercial Road
Totton
Southampton
Hampshire
SO40 3AE

SC BEDFORD LIMITED (REGISTERED NUMBER: 11038784)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 4 5,169,106 5,016,494
Debtors 5 75 2,206,368
Cash at bank and in hand 489,509 5,829
5,658,690 7,228,691
CREDITORS
Amounts falling due within one year 6 3,226,100 5,247,546
NET CURRENT ASSETS 2,432,590 1,981,145
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,432,590

1,981,145

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,432,589 1,981,144
2,432,590 1,981,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:





Mr R Tang - Director


SC BEDFORD LIMITED (REGISTERED NUMBER: 11038784)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

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

Stocks
Stock of properties are stated at lower of cost and net realisable value. Overheads are charged to the profit and loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When properties are sold, the carrying amount of these properties is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stock to net realisable value are recognised as an expense in the period in which the write-down occurs. The amount of any reversal of any write-down of stock is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

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 NIL (2022 - NIL).

4. STOCKS
2023 2022
£    £   
Work-in-progress 5,169,106 5,016,494

SC BEDFORD LIMITED (REGISTERED NUMBER: 11038784)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings - 2,205,568
VAT 75 800
75 2,206,368

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 3,185,555 4,975,046
Tax 33,045 -
Accruals and deferred income 7,500 272,500
3,226,100 5,247,546

7. CONTROLLING PARTIES

The parent company is Cloud Wing UK Limited, incorporated in England and Wales.

The ultimate parent company is Cloud Wing Investment Co Limited, incorporated in the British Virgin Islands.

The ultimate controlling party is Mr Y Gao.