REGISTERED NUMBER: |
Daewoo International (Europe) Ltd. |
Financial Statements |
for the Period 1st November 2022 to 31st January 2024 |
REGISTERED NUMBER: |
Daewoo International (Europe) Ltd. |
Financial Statements |
for the Period 1st November 2022 to 31st January 2024 |
Daewoo International (Europe) Ltd. (Registered number: 04265229) |
Contents of the Financial Statements |
for the period 1st November 2022 to 31st January 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 | to | 5 |
Daewoo International (Europe) Ltd. |
Company Information |
for the period 1st November 2022 to 31st January 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
Statutory Auditor |
310 Wellingborough Road |
Northampton |
NN1 4EP |
Daewoo International (Europe) Ltd. (Registered number: 04265229) |
Statement of Financial Position |
31st January 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Daewoo International (Europe) Ltd. (Registered number: 04265229) |
Notes to the Financial Statements |
for the period 1st November 2022 to 31st January 2024 |
1. | STATUTORY INFORMATION |
Daewoo International (Europe) Ltd. is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements for the 15 months to 31st January 2024 are not directly comparable with the comparative financial statements for the year to 31st October 2022. The Accounting reference date was changed to 31st January in order that the trade of the company could be ceased and the company become dormant from this date. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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 |
Fixtures , fittings & equipment are depreciated at 12.5% per annum on cost on the straight line basis. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Stock comprises finished goods for resale. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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 period was NIL (2022 - NIL). |
Daewoo International (Europe) Ltd. (Registered number: 04265229) |
Notes to the Financial Statements - continued |
for the period 1st November 2022 to 31st January 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st November 2022 |
Disposals | ( |
) |
At 31st January 2024 |
DEPRECIATION |
At 1st November 2022 |
Charge for period |
Eliminated on disposal | ( |
) |
At 31st January 2024 |
NET BOOK VALUE |
At 31st January 2024 |
At 31st October 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis of qualified opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. The financial statements for the company for the comparative period , the year to 31st October 2022 were not audited .In the current period , on 3rd July 2023, Daewoo International ( Europe ) Ltd became a subsidiary of a non -small group and therefore required an audit under the Companies Act 2006.The comparatives in the Statement of Income and Retained Earnings for the year ended 31st October 2022 have not been audited by us and therefore we can express no opinion . The opening balances at 1st November 2022 have been subject to extensive audit work by us and we are satisfied that they do not contain material misstatements. |
for and on behalf of |
Daewoo International (Europe) Ltd. (Registered number: 04265229) |
Notes to the Financial Statements - continued |
for the period 1st November 2022 to 31st January 2024 |
9. | CONTINGENT LIABILITIES |
There were no contingent liabilities at 31st January 2024 or the 31st October 2022. |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is Anand Distribution limited. |
The ultimate controlling party is |
HS Anand is the majority shareholder in Anand Group Limited which is the ultimate parent company. |