Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity24falsetruefalse 03584903 2023-04-01 2024-03-31 03584903 2022-04-01 2023-03-31 03584903 2024-03-31 03584903 2023-03-31 03584903 c:Director1 2023-04-01 2024-03-31 03584903 d:FurnitureFittings 2023-04-01 2024-03-31 03584903 d:FurnitureFittings 2024-03-31 03584903 d:FurnitureFittings 2023-03-31 03584903 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03584903 d:ComputerEquipment 2023-04-01 2024-03-31 03584903 d:ComputerEquipment 2024-03-31 03584903 d:ComputerEquipment 2023-03-31 03584903 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03584903 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03584903 d:CurrentFinancialInstruments 2024-03-31 03584903 d:CurrentFinancialInstruments 2023-03-31 03584903 d:Non-currentFinancialInstruments 2024-03-31 03584903 d:Non-currentFinancialInstruments 2023-03-31 03584903 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03584903 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03584903 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03584903 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03584903 d:ShareCapital 2024-03-31 03584903 d:ShareCapital 2023-03-31 03584903 d:RetainedEarningsAccumulatedLosses 2024-03-31 03584903 d:RetainedEarningsAccumulatedLosses 2023-03-31 03584903 c:FRS102 2023-04-01 2024-03-31 03584903 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03584903 c:FullAccounts 2023-04-01 2024-03-31 03584903 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03584903 2 2023-04-01 2024-03-31 03584903 6 2023-04-01 2024-03-31 03584903 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 03584903









ZIAN HI-TECH (UK) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ZIAN HI-TECH (UK) LIMITED
REGISTERED NUMBER: 03584903

BALANCE SHEET
AS AT 31 MARCH 2024

2024
Restated 2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,023
4,190

Investments
 5 
309,081
302,756

  
314,104
306,946

Current assets
  

Stocks
  
1,263,564
672,528

Debtors: amounts falling due within one year
 6 
2,392,512
1,431,556

Cash at bank and in hand
 7 
2,883,814
2,672,306

  
6,539,890
4,776,390

Creditors: amounts falling due within one year
 8 
(4,473,360)
(2,041,930)

Net current assets
  
 
 
2,066,530
 
 
2,734,460

Total assets less current liabilities
  
2,380,634
3,041,406

Creditors: amounts falling due after more than one year
 9 
(3,154,571)
(3,998,571)

  

Net liabilities
  
(773,937)
(957,165)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(774,037)
(957,265)

  
(773,937)
(957,165)


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 year in question in accordance with section 476 of the Companies Act 2006.

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

Page 1

 
ZIAN HI-TECH (UK) LIMITED
REGISTERED NUMBER: 03584903
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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: 




................................................
J Huang
Director

Date: 25 November 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ZIAN HI-TECH (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Zian Hi-Tech (U.K.) Limited is a private company, limited by shares, registered in England and Wales. The company's registered address is Mulberry Cottage, Clamp Hill, Stanmore, HA7 3JQ.
The principal activity is that of a high quality supplier of cashmere products.  
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presentated unless otherwise stated. 

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

The directors consider that the company has sufficient funding for the foreseeable future in the form of the director and connected party support. 
The financial statements have therefore been prepared as a going concern on the basis that the company is expected to continue in operational existence for the foreseeable future. 

 
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 3

 
ZIAN HI-TECH (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction 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

Pensions

Defined contribution pension plan

The Company operates 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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 4

 
ZIAN HI-TECH (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
straight line balance
Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

Page 5

 
ZIAN HI-TECH (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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 year was 2 (2023 - 4).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
7,449
5,873
13,322


Additions
667
1,423
2,090



At 31 March 2024

8,116
7,296
15,412



Depreciation


At 1 April 2023
6,646
2,486
9,132


Charge for the year on owned assets
201
1,056
1,257



At 31 March 2024

6,847
3,542
10,389



Net book value



At 31 March 2024
1,269
3,754
5,023



At 31 March 2023
803
3,387
4,190

Page 6

 
ZIAN HI-TECH (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Other investments

£



Cost or valuation


At 1 April 2023
302,756


Foreign exchange movement
6,325



At 31 March 2024
309,081





6.


Debtors

2024
Restated 2023
£
£


Trade debtors
2,154,913
1,401,284

Other debtors
233,825
24,922

Prepayments and accrued income
3,774
5,350

2,392,512
1,431,556



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,883,814
2,672,306

2,883,814
2,672,306


Page 7

 
ZIAN HI-TECH (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,454,948
357,780

Corporation tax
60,664
20,024

Other taxation and social security
2,392
3,810

Other creditors
1,586,356
1,656,796

Accruals and deferred income
369,000
3,520

4,473,360
2,041,930



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
3,154,571
3,998,571

3,154,571
3,998,571



10.


Prior year adjustment

In the prior year there was a debtor balance held with a group under common control of £343,393. This balance should have been written off as the company under control can not repay these funds. Therefore, ia prior year amendment has been included.  

Page 8

 
ZIAN HI-TECH (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Related party transactions

At the year end the company were owed £273,367 (2023: £Nil) by companies under common control. 


12.


Controlling party

The company is controlled by Ms J Huang.

 
Page 9