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REGISTERED NUMBER: SC280941 (Scotland)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Wongs Restaurant (Grangemouth) Ltd.

Wongs Restaurant (Grangemouth) Ltd. (Registered number: SC280941)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Wongs Restaurant (Grangemouth) Ltd.

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C K Lau
C M Lau
C H Lau





SECRETARY: C K Lau





REGISTERED OFFICE: 191 Station Road
Shotts
North Lanarkshire
ML7 4BA





REGISTERED NUMBER: SC280941 (Scotland)





ACCOUNTANTS: EAC Accountancy Limited
191 Station Road
Shotts
North Lanarkshire
ML7 4BA

Wongs Restaurant (Grangemouth) Ltd. (Registered number: SC280941)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of chinese takeaway and restaurant.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

C K Lau
C M Lau
C H Lau

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





C K Lau - Secretary


28 May 2024

Wongs Restaurant (Grangemouth) Ltd. (Registered number: SC280941)

Income Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 227,661 206,789

Cost of sales 74,555 75,838
GROSS PROFIT 153,106 130,951

Administrative expenses 146,104 129,654
OPERATING PROFIT and
PROFIT BEFORE TAXATION 7,002 1,297

Tax on profit 1,344 265
PROFIT FOR THE FINANCIAL YEAR 5,658 1,032

Wongs Restaurant (Grangemouth) Ltd. (Registered number: SC280941)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 1 1
Tangible assets 6 286 381
287 382

CURRENT ASSETS
Stocks 2,000 2,000
Cash at bank 37,186 60,265
39,186 62,265
CREDITORS
Amounts falling due within one year 7 12,793 32,440
NET CURRENT ASSETS 26,393 29,825
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,680

30,207

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 26,580 30,107
26,680 30,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Wongs Restaurant (Grangemouth) Ltd. (Registered number: SC280941)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared 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 28 May 2024 and were signed on its behalf by:





C K Lau - Director


Wongs Restaurant (Grangemouth) Ltd. (Registered number: SC280941)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Wongs Restaurant (Grangemouth) Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

25% Reducing Balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Wongs Restaurant (Grangemouth) Ltd. (Registered number: SC280941)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.3.24 31.3.23
£    £   
Depreciation - owned assets 95 127

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 15,000
AMORTISATION
At 1 April 2023
and 31 March 2024 14,999
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

Wongs Restaurant (Grangemouth) Ltd. (Registered number: SC280941)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 11,950
DEPRECIATION
At 1 April 2023 11,569
Charge for year 95
At 31 March 2024 11,664
NET BOOK VALUE
At 31 March 2024 286
At 31 March 2023 381

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 9,418 9,029
Other creditors 3,375 23,411
12,793 32,440