Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13157149 2023-05-01 2024-04-30 13157149 2024-04-30 13157149 2022-05-01 2023-04-30 13157149 2023-04-30 13157149 c:Director1 2023-05-01 2024-04-30 13157149 d:LeaseholdInvestmentProperty 2023-05-01 2024-04-30 13157149 d:LeaseholdInvestmentProperty 2024-04-30 13157149 d:LeaseholdInvestmentProperty 2023-04-30 13157149 d:CurrentFinancialInstruments 2024-04-30 13157149 d:CurrentFinancialInstruments 2023-04-30 13157149 d:Non-currentFinancialInstruments 2024-04-30 13157149 d:Non-currentFinancialInstruments 2023-04-30 13157149 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 13157149 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 13157149 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 13157149 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 13157149 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 13157149 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 13157149 d:ShareCapital 2024-04-30 13157149 d:ShareCapital 2023-04-30 13157149 d:RetainedEarningsAccumulatedLosses 2024-04-30 13157149 d:RetainedEarningsAccumulatedLosses 2023-04-30 13157149 c:FRS102 2023-05-01 2024-04-30 13157149 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 13157149 c:FullAccounts 2023-05-01 2024-04-30 13157149 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13157149 2 2023-05-01 2024-04-30 13157149 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 13157149


ZHU & SON LTD








UNAUDITED

PAGES FOR FILING WITH REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2024

 
ZHU & SON LTD
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ZHU & SON LTD
FOR THE PERIOD ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Zhu & Son Ltd for the period ended 30 April 2024 which comprise  the Statement of financial position 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 Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of Zhu & Son Ltd in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Zhu & Son Ltd and state those matters that we have agreed to state to the director of Zhu & Son Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Zhu & Son Ltd and its director for our work or for this report. 

It is your duty to ensure that Zhu & Son Ltd 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 Zhu & Son Ltd. You consider that Zhu & Son Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Zhu & Son Ltd. 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.

  



Wellers
1 Vincent Square
Westminster
London
SW1P 2PN
15 November 2024
Page 1

 
ZHU & SON LTD
REGISTERED NUMBER: 13157149

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
10,812,506
10,788,615

  
10,812,506
10,788,615

Current assets
  

Debtors: amounts falling due within one year
 5 
41,401
16,539

Cash at bank and in hand
 6 
399,665
435,392

  
441,066
451,931

Creditors: amounts falling due within one year
 7 
(7,119,704)
(6,876,220)

Net current liabilities
  
 
 
(6,678,638)
 
 
(6,424,289)

Total assets less current liabilities
  
4,133,868
4,364,326

Creditors: amounts falling due after more than one year
 8 
(4,441,956)
(4,471,938)

  

Net liabilities
  
(308,088)
(107,612)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(309,088)
(108,612)

  
(308,088)
(107,612)


Page 2

 
ZHU & SON LTD
REGISTERED NUMBER: 13157149
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 








................................................
George Jianqi Zhu
Director

Date: 14 November 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
ZHU & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


General information

The company is a private limited company which is incorporated and domiciled in the UK. The address of its registered office is 1 Vincent Square, London, SW1P 2PN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

Despite the negative shareholder funds of £308,088, the director is able to continue to finance the company to pay for its day to day liabilites as they fall due and therefore the accounts are prepared on a going concern basis.  

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
ZHU & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Investment property

Investment property is carried at fair value determined annually by the directors' and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5

 
ZHU & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2023 - 2).


4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 May 2023
10,788,615


Additions at cost
23,891



At 30 April 2024
10,812,506

For properties acquired in the current financial year, cost is considered an accurate reflection of their fair value. Furthermore, for investment properties acquired last year, the director has decided fair value is carried at cost.





5.


Debtors

2024
2023
£
£


Other debtors
10,288
2,713
Page 6

 
ZHU & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

5.Debtors (continued)


Prepayments and accrued income
31,113
13,826

41,401
16,539



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
399,665
435,392

399,665
435,392



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
7,102,155
6,863,870

Accruals and deferred income
17,549
12,350

7,119,704
6,876,220



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
4,441,956
4,471,938

4,441,956
4,471,938


Page 7

 
ZHU & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Bank loans
4,441,956
4,471,939


4,441,956
4,471,939


4,441,956
4,471,939


The bank loans are secured by a fixed and floating charges by various institutions over the investment properties held by the company.


10.


Related party transactions

As at the period end, the director, G Zhu was owed an amount of £7,101,663 (2023: 6,860,707) from the company. The amount is non-interest bearing and repayable upon demand.

 
Page 8