1 March 2023 v2024.64.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPSC7222432023-03-012024-02-28SC7222432024-02-28SC7222432023-02-28SC722243core:WithinOneYear2024-02-28SC722243core:WithinOneYear2023-02-28SC722243core:ShareCapital2024-02-28SC722243core:ShareCapital2023-02-28SC722243core:RetainedEarningsAccumulatedLosses2024-02-28SC722243core:RetainedEarningsAccumulatedLosses2023-02-28SC722243bus:Director12023-03-012024-02-28SC722243bus:RegisteredOffice2023-03-012024-02-28SC722243core:PlantMachinery2023-03-012024-02-28SC722243core:OfficeEquipment2023-03-012024-02-28SC722243core:FurnitureFittings2023-03-012024-02-28SC722243core:MotorVehicles2023-03-012024-02-28SC7222432022-02-072023-02-28SC722243core:PlantMachinery2023-03-01SC722243core:PlantMachinery2024-02-28SC722243core:PlantMachinery2023-02-28SC72224312023-03-012024-02-28SC722243countries:Scotland2023-03-012024-02-28SC722243bus:AuditExemptWithAccountantsReport2023-03-012024-02-28SC722243bus:PrivateLimitedCompanyLtd2023-03-012024-02-28SC722243bus:SmallEntities2023-03-012024-02-28SC722243bus:FullAccounts2023-03-012024-02-28
Company registration number:
SC722243
CNY FOODS LTD
Unaudited Filleted Financial Statements for the year ended
28 February 2024
CNY FOODS LTD
Statement of Financial Position
28 February 2024
20242023
Note££
Fixed assets    
Tangible assets 5
88,363
 
96,120
 
Current assets    
Stocks
30,900
 
25,200
 
Debtors 6
9,244
 
18,455
 
Cash at bank and in hand
59,578
 
13,385
 
99,722
 
57,040
 
Creditors: amounts falling due within one year 7
(119,088
)
(157,594
)
Net current liabilities
(19,366
)
(100,554
)
Total assets less current liabilities 68,997   (4,434 )
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
68,897
 
(4,534
)
Shareholders funds/(deficit)
68,997
 
(4,434
)
For the year ending
28 February 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • 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;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
29 November 2024
, and are signed on behalf of the board by:
C Zhang
Director
Company registration number:
SC722243
CNY FOODS LTD
Notes to the Financial Statements
Year ended
28 February 2024

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
38-40 High Street
,
Galashiels
,
TD1 1SE
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
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 assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
15% straight line
Office equipment
15% straight line
Fixtures and fittings
15% straight line
Motor vehicles
15% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
16
(2023:
4.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 March 2023
113,083
 
Additions
9,748
 
At
28 February 2024
122,831
 
Depreciation  
At
1 March 2023
16,963
 
Charge
17,505
 
At
28 February 2024
34,468
 
Carrying amount  
At
28 February 2024
88,363
 
At 28 February 2023
96,120
 

6 Debtors

20242023
££
Trade debtors
1,140
 
1,564
 
Other debtors
8,104
 
16,891
 
9,244
 
18,455
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
13,298
 
27,944
 
Taxation and social security
2,297
 
2
 
Other creditors
103,493
 
129,648
 
119,088
 
157,594