Registered number
05298845
WANG DYNASTY (UK) LIMITED
Filleted Accounts
29 February 2024
WANG DYNASTY (UK) LIMITED
Registered number: 05298845
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 15,743
- 15,743
Current assets
Debtors 4 20,823 33,369
Cash at bank and in hand 2,047 2,722
22,870 36,091
Creditors: amounts falling due within one year 5 (28,119) (113,923)
Net current liabilities (5,249) (77,832)
Total assets less current liabilities (5,249) (62,089)
Creditors: amounts falling due after more than one year 6 (22,500) (32,500)
Net liabilities (27,749) (94,589)
Capital and reserves
Called up share capital 67,715 67,715
Profit and loss account (127,749) (194,589)
Shareholders' funds (27,749) (94,589)
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.
MR JIAN HONG WANG
Director
Approved by the board on 3 September 2024
WANG DYNASTY (UK) LIMITED
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Fixture & Fittings Equipments Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 202,133 775 96,845 299,753
Additions - - - -
Surplus on revaluation - - - -
Disposals (202,133) (775) (96,845) (299,753)
At 29 February 2024 - - - -
Depreciation
At 1 March 2023 191,471 732 91,807 284,010
Charge for the year - - - -
Surplus on revaluation - - - -
On disposals (191,471) (732) (91,807) (284,010)
At 29 February 2024 - - - -
Net book value
At 29 February 2024 - - - -
At 28 February 2023 10,662 43 5,038 15,743
4 Debtors 2024 2023
£ £
Other debtors 20,823 33,369
20,823 33,369
5 Creditors: amounts falling due within one year 2024 2023
£ £
Air tickets payable to air tickets operators 24,537 111,816
Taxation and social security costs 6 1,803
Other creditors 3,576 304
28,119 113,923
6 Creditors: amounts falling due after one year 2024 2023
£ £
BB Loan 22,500 32,500
22,500 32,500
7 Controlling party
The company is controlled by Mr Jian Hong Wang (70%), Mrs Hui Yuan (30%).
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