Registered number
07092214
eBaoTech (UK) Limited
Report and Accounts for the year ended
31 December 2023
eBaoTech (UK) Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2-3
Independent auditor's report 4-6
Profit and loss account 7
Balance sheet 8
Statement of changes in equity 9
Notes to the accounts 10-13
eBaoTech (UK) Limited
Company Information
Directors
Y Mo
T Bugajski
Auditors
CK Partnership Ltd
1 Old Court Mews
311 Chase Road
London
N14 6JS
Registered office
Suite 1, 1 Old Court Mews
311 Chase Road
London
N14 6JS
Registered number
07092214
eBaoTech (UK) Limited
Registered number: 07092214
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 that of a technology solution provider.
Directors
The following persons served as directors during the year:
Y Mo
T Bugajski
Political donations
There were no political donations made in the year.
Directors' responsibilities
The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Limitation of liability
The company has entered into a liability limitation agreement with its auditor, dated 4 November 2021.

The limitation of liability in respect of the audit is £8,000.
The limitation of liability in respect of all other services provided is £1,500.
Going concern
The financial statements have been prepared on a going concern basis which the directors consider appropriate.
See note 1 for further details.
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 30 October 2024 and signed on its behalf.
Y Mo
Director
eBaoTech (UK) Limited
Independent auditor's report
to the member of eBaoTech (UK) Limited
Opinion
We have audited the accounts of eBaoTech (UK) Limited (the 'company') for the year ended 31 December 2023 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and notes to the accounts, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the accounts:
give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for 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 Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out below, 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.
In accordance with the exemption provided by FRC's Ethical Standard - Provisions Available for Audits of Small Entities, we have prepared and submitted the company’s returns to the tax authorities and assisted with the preparation of the accounts.
Conclusions relating to going concern
In auditing the accounts, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the accounts is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the accounts and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the directors’ report for the financial year for which the accounts are prepared is consistent with the accounts; and
the directors’ report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the accounts are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the accounts in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.The extent to which are procedures are capable of detecting irregularities, including fraud is detailed below:
Our assessment focused on key laws and regulations the entity has to comply with and areas of the financial statements we assessed as being more susceptible to misstatement. These key laws and regulations included but were not limited to compliance with the Companies Act 2006, UK GAAP and relevant tax legislation.
We are not responsible for preventing irregularities. Our approach to detect irregularity included, but was not limited to, the following:
- obtaining an understanding of the legal and regulatory framework applicable to the company and how the company is complying with that framework;
- obtaining an understanding of the company's policies and procedures and how the company has complied with these, through discussions and walkthrough testing;
- obtaining an understanding of the company's risk assessment process, including the risk of fraud;
- enquiring of management as to actual and potential fraud, litigation and claims;
- designing our audit procedures to respond to our risk assessment;
- performing audit testing over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business;
- assessing whether judgements and assumptions made in determining the accounting estimates, were indicative of potential bias; and
- performing analytical procedures to identify any large, unusual or unexpected relationships.

Whilst considering how our audit work addressed the detection of irregularities, we also consider the likelihood of detection based on our approach. Irregularities arising from fraud are inherently more difficult to detect than those arising from error.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the accounts is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
George Christou
(Senior Statutory Auditor) 1 Old Court Mews
for and on behalf of 311 Chase Road
CK Partnership Ltd
Statutory Auditor London
30 October 2024 N14 6JS
eBaoTech (UK) Limited
Profit and Loss Account
for the year ended 31 December 2023
2023 2022
£ £
Turnover 199,870 -
Administrative expenses (170,315) (123,082)
Operating profit/(loss) 29,555 (123,082)
Profit/(loss) before taxation 29,555 (123,082)
Tax on profit/(loss) - -
Profit/(loss) for the financial year 29,555 (123,082)
eBaoTech (UK) Limited
Registered number: 07092214
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 5 203,845 1,372
Cash at bank and in hand 58,227 9,374
262,072 10,746
Creditors: amounts falling due within one year 6 (1,309,248) (1,087,477)
Net current liabilities (1,047,176) (1,076,731)
Net liabilities (1,047,176) (1,076,731)
Capital and reserves
Called up share capital 100 100
Profit and loss account (1,047,276) (1,076,831)
Shareholder's funds (1,047,176) (1,076,731)
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.
Y Mo
Director
Approved by the board on 30 October 2024
eBaoTech (UK) Limited
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 100 - - (953,749) (953,649)
Loss for the financial year (123,082) (123,082)
At 31 December 2022 100 - - (1,076,831) (1,076,731)
At 1 January 2023 100 - - (1,076,831) (1,076,731)
Profit for the financial year 29,555 29,555
At 31 December 2023 100 - - (1,047,276) (1,047,176)
eBaoTech (UK) Limited
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).
2 Going concern
"The accounts have been prepared on the going concern basis despite the company's net liabilities position of £1,047,176 (2022 - net liabilities £1,076,731) and of its recorded profit/(loss) for the year of profit £29,555 (2022 - loss £123,082).

The company is reliant on continued support from its parent company ebaoTech International Pte. Ltd., who has undertaken to provide continued support for at least 12 months from the date of signing these accounts. The parent company has also confirmed that it will not call on the debts due to them until the company can afford repayment and not within the next 12 month unless it is financially viable to do so.

The fellow subsidiaries to which balances are owed as at 31 December 2023 (eBaoTech Corporation and eBaoTech (Europe) AG) have also confirmed that they will not call on the debts due to them until the company can afford repayment and not within the next 12 months unless it is financially viable to do so.

At the time of signing these accounts, the directors have considered the effect of the going concern position, and consider that this does indicate that the company will continue to trade for a period of at least 12 months from the date of signing these accounts due to the support available to it.
The financial forecasts prepared by the directors show that the company will be able to operate within the facilities available to it.
On that basis, the directors have prepared these financial statements on a going concern basis."
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Operating leases
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.
3 Audit information
The audit report is unqualified.
Senior statutory auditor: George Christou
Firm: CK Partnership Ltd
Date of audit report: 30 October 2024
4 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
Number of employees represent the 2 directors of the company and 1 staff member. The directors did not receive any remuneration in either of the last 2 years.
5 Debtors 2023 2022
£ £
Trade debtors 199,870 -
Other debtors 3,546 943
Prepayments and accrued income 429 429
203,845 1,372
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 517 370
Amounts owed to group undertakings 1,293,996 1,074,187
Taxation and social security costs 6,173 4,295
Accruals 8,562 8,625
1,309,248 1,087,477
Amounts owed to group undertakings are interest free and repayable on demand. See note 2 for further terms of these amounts.
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 3,432 3,432
8 Related party transactions
Advantage has been taken of the exemption provided by FRS 102 section 33.1A not to disclose transactions with fellow group companies and disclosure of key management personnel as all subsidiary undertakings are wholly owned by the ultimate controlling entity of the company.
9 Controlling party
The controlling party is eBaoTech International Pte. Ltd. who holds 100% of the issued share capital of the company. This is a company incorporated in Singapore. The address of the parent company is 16 Raffles Quay #27-01, Hong Leong Building, Singapore, 48581.

The ultimate parent undertaking and the largest group for which group accounts are prepared is eBao Corporation, a company incorporated in the Cayman Islands.
10 Other information
eBaoTech (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 1, 1 Old Court Mews
311 Chase Road
London
N14 6JS
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