Registered number
09769174
Hongeran Properties Limited
Unaudited Filleted Accounts
31 January 2024
Hongeran Properties Limited
Registered number: 09769174
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 3,023,364 3,548,329
Investments 4 300 300
3,023,664 3,548,629
Current assets
Debtors 5 748,392 860,292
Cash at bank and in hand 152,491 12,339
900,883 872,631
Creditors: amounts falling due within one year 6 (1,082,625) (1,157,521)
Net current liabilities (181,742) (284,890)
Total assets less current liabilities 2,841,922 3,263,739
Creditors: amounts falling due after more than one year 7 (2,577,942) (3,308,947)
Net assets/(liabilities) 263,980 (45,208)
Capital and reserves
Called up share capital 100 100
Profit and loss account 263,880 (45,308)
Shareholder's funds 263,980 (45,208)
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 member has 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.
Ms Meiyun Wu
Director
Approved by the board on 31 October 2024
Hongeran Properties Limited
Notes to the Accounts
for the year ended 31 January 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. Turnover includes revenue earned from the letting of own properties.
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 land nil
Freehold buildings over 50 years
Fixtures and fittings 20% reducing balance
Investment properties
Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in profit or loss.
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 3,695,699 4,610 3,700,309
Additions 275,419 - 275,419
Disposals (759,041) - (759,041)
At 31 January 2024 3,212,077 4,610 3,216,687
Depreciation
At 1 February 2023 149,267 2,713 151,980
Charge for the year 40,964 379 41,343
At 31 January 2024 190,231 3,092 193,323
Net book value
At 31 January 2024 3,021,846 1,518 3,023,364
At 31 January 2023 3,546,432 1,897 3,548,329
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 February 2023 300
At 31 January 2024 300
5 Debtors 2024 2023
£ £
Trade debtors 1,600 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 743,792 727,292
Other debtors 3,000 133,000
748,392 860,292
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,467 4,467
Trade creditors 170,000 160,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest 299,804 303,199
Taxation and social security costs 111,667 13,682
Other creditors 496,687 676,173
1,082,625 1,157,521
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,577,942 3,308,947
8 Related party transactions
Included within amount owed by group undertakings are £364,900 (2023 - £356,400) due from Young Deere Ltd and £378,892 (2023 - £370,892) from Aomei Developments Ltd. Hongeran Properties Ltd provided financial assistance in a form of Loan to these wholly owned subsidiaries.
Included within amount owed to group undertakings are £81,983 (2023 - £81,983) due to Shuang Yun Building Contractor Limited, its parent company, and £217,821 (2023 - £221,216) due to Jinlimei Investments Ltd and Aomei Developments Ltd, its wholly owned subsidiaries.
Included within other creditors are £488,287 (2023 - £670,575) due to the participators.
9 Other information
Hongeran Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
1st Floor, 267 High Road
Leyton
London
E10 5QN
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