Company registration number 08391122 (England and Wales)
NINGBO UK LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
NINGBO UK LTD
COMPANY INFORMATION
Directors
C Spieler
D Margo
Secretary
C Spieler
Company number
08391122
Registered office
30 Old Hall Road
Salford
M7 4JH
Accountants
M J Goldman (Chartered Accountants)
Hollinwood Business Centre
Albert Street
Oldham
OL8 3QL
NINGBO UK LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
NINGBO UK LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
4,667
Current assets
Debtors
4
20,556
34,970
Cash at bank and in hand
226,610
247,952
247,166
282,922
Creditors: amounts falling due within one year
5
(101,544)
(88,927)
Net current assets
145,622
193,995
Total assets less current liabilities
145,622
198,662
Provisions for liabilities
-
0
(1,122)
Net assets
145,622
197,540
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
145,522
197,440
Total equity
145,622
197,540

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 26 November 2024 and are signed on its behalf by:
C Spieler
Director
Company registration number 08391122 (England and Wales)
NINGBO UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information

Ningbo UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 30 Old Hall Road, Salford, M7 4JH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, except for modification to a fair value basis where specified in the accounting policies set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, being (insert details of where being turnover is generated from) services and is shown net of VAT and other sales related taxes.

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

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings and equipment
50 % Straight Line.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

NINGBO UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Basic financial assets, which include debtors and cash, together with basic financial liabilities, including creditors, are initially recognised at transaction cost and not amortised as they are either receivable or payable within one year.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

NINGBO UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
6
3
Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 March 2023 and 28 February 2024
31,385
Depreciation and impairment
At 1 March 2023
26,718
Depreciation charged in the year
4,667
At 28 February 2024
31,385
Carrying amount
At 28 February 2024
-
0
At 28 February 2023
4,667
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,234
20,132
Other debtors
15,322
14,838
20,556
34,970
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
14,102
6,437
Taxation and social security
85,511
80,521
Other creditors
1,931
1,969
101,544
88,927
NINGBO UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 5 -
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
2024-02-282023-03-01false26 November 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityD MargoD MargoC Spielerfalsefalse083911222023-03-012024-02-2808391122bus:CompanySecretaryDirector12023-03-012024-02-2808391122bus:Director12023-03-012024-02-2808391122bus:CompanySecretary12023-03-012024-02-2808391122bus:Director22023-03-012024-02-2808391122bus:RegisteredOffice2023-03-012024-02-28083911222024-02-28083911222023-02-2808391122core:ComputerEquipment2024-02-2808391122core:ComputerEquipment2023-02-2808391122core:CurrentFinancialInstrumentscore:WithinOneYear2024-02-2808391122core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2808391122core:CurrentFinancialInstruments2024-02-2808391122core:CurrentFinancialInstruments2023-02-2808391122core:ShareCapital2024-02-2808391122core:ShareCapital2023-02-2808391122core:RetainedEarningsAccumulatedLosses2024-02-2808391122core:RetainedEarningsAccumulatedLosses2023-02-2808391122core:ComputerEquipment2023-03-012024-02-28083911222022-03-012023-02-2808391122core:ComputerEquipment2023-02-2808391122core:WithinOneYear2024-02-2808391122core:WithinOneYear2023-02-2808391122bus:PrivateLimitedCompanyLtd2023-03-012024-02-2808391122bus:SmallCompaniesRegimeForAccounts2023-03-012024-02-2808391122bus:FRS1022023-03-012024-02-2808391122bus:AuditExemptWithAccountantsReport2023-03-012024-02-2808391122bus:FullAccounts2023-03-012024-02-28xbrli:purexbrli:sharesiso4217:GBP