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REGISTERED NUMBER: 04775858 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 June 2024

for

China Cabinet Limited

China Cabinet Limited (Registered number: 04775858)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 4 to 6


China Cabinet Limited

Company Information
for the Year Ended 30 June 2024







Directors: R A Hempsall
S F Hempsall





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: 5 Church Street
Boston
Lincolnshire
PE21 6NW





Registered number: 04775858 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
China Cabinet Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of China Cabinet Limited for the year ended 30 June 2024 which comprise the Income statement, Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of China Cabinet Limited, as a body, in accordance with the terms of our engagement letter dated 12 November 2018. Our work has been undertaken solely to prepare for your approval the financial statements of China Cabinet Limited and state those matters that we have agreed to state to the Board of Directors of China Cabinet Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than China Cabinet Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that China Cabinet Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of China Cabinet Limited. You consider that China Cabinet Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of China Cabinet Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


1 November 2024

China Cabinet Limited (Registered number: 04775858)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 198 233

Current assets
Stocks 6 89,621 101,135
Debtors 7 386 267
Cash at bank and in hand 15,781 20,997
105,788 122,399
Creditors
Amounts falling due within one year 8 113,021 195,273
Net current liabilities (7,233 ) (72,874 )
Total assets less current liabilities (7,035 ) (72,641 )

Capital and reserves
Called up share capital 9 75,100 100
Retained earnings (82,135 ) (72,741 )
Shareholders' funds (7,035 ) (72,641 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 21 October 2024 and were signed on its behalf by:





R A Hempsall - Director


China Cabinet Limited (Registered number: 04775858)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. Statutory information

China Cabinet 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings-15% reducing balance

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

China Cabinet Limited (Registered number: 04775858)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. Accounting policies - continued

Going concern
At the balance sheet date, current liabilities exceed current assets by £7,035.00. This is due to amounts owed to one of the directors being included within creditors due within one year. However, the director has indicated that he will not withdraw from these accounts in preference to other creditors, that they have operated within their bank facilities and that the accounts have been prepared on a going concern basis.

4. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

5. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 July 2023
and 30 June 2024 6,000
Depreciation
At 1 July 2023 5,767
Charge for year 35
At 30 June 2024 5,802
Net book value
At 30 June 2024 198
At 30 June 2023 233

6. Stocks
2024 2023
£    £   
Stocks 89,621 101,135

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Social security and other
taxes 276 -
Prepayments 110 267
386 267

China Cabinet Limited (Registered number: 04775858)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 1,363 97
Social security and other
taxes - 1,096
Directors' current accounts 109,214 191,697
Accrued expenses 2,444 2,383
113,021 195,273

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
75,100 Ordinary £1 75,100 100

75,000 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.