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Company Registration No. 13887036 (England and Wales)
Grace For Hong Limited Unaudited accounts for the year ended 29 February 2024
Grace For Hong Limited Unaudited accounts Contents
Page
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Grace For Hong Limited Company Information for the year ended 29 February 2024
Director
Hongliang He
Company Number
13887036 (England and Wales)
Registered Office
152 High Street Honiton EX14 1JX
Accountants
LJW Accountants Limited 27 Hardy Avenue Dartford Kent DA1 2FE
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Grace For Hong Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Inventories
1,650 
1,350 
Debtors
197 
- 
Cash at bank and in hand
221 
896 
2,068 
2,246 
Creditors: amounts falling due within one year
(2,625)
(3,019)
Net current liabilities
(557)
(773)
Net liabilities
(557)
(773)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(657)
(873)
Shareholders' funds
(557)
(773)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 November 2024 and were signed on its behalf by
Hongliang He Director Company Registration No. 13887036
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Grace For Hong Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Grace For Hong Limited is a private company, limited by shares, registered in England and Wales, registration number 13887036. The registered office is 152 High Street, Honiton, EX14 1JX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due after more than one year
Other debtors
197 
- 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
1,167 
1,167 
Taxes and social security
378 
97 
Loans from directors
- 
795 
Accruals
1,080 
960 
2,625 
3,019 
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Grace For Hong Limited Notes to the Accounts for the year ended 29 February 2024
6
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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