TYPHOONELITE LTD

Company Registration Number:
10730594 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 May 2023

End date: 30 April 2024

TYPHOONELITE LTD

Contents of the Financial Statements

for the Period Ended 30 April 2024

Company Information - 3
Profit and Loss Account - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 11

TYPHOONELITE LTD

Company Information

for the Period Ended 30 April 2024




Director: Mrs Chiu Ming Charmaine Wong U
Ms Hon Ling Regina Li
Secretary: Ms Hon Ling Regina Li
Registered office: 124 City Road, London, England
City Road
London
England
EC1V 2NX
Company Registration Number: 10730594 (England and Wales)

TYPHOONELITE LTD

Profit and Loss Account

for the Period Ended 30 April 2024


Notes

2024
£

2023
£
Gross Profit or (Loss) 78,024 76,827
Administrative Expenses ( 42,188 ) ( 43,417 )
Operating Profit or (Loss) 35,836 33,410
Interest Receivable and Similar Income 199 0
Interest Payable and Similar Charges ( 11,184 ) ( 12,077 )
Profit or (Loss) Before Tax 24,851 21,333
Tax on Profit ( 4,722 ) ( 4,053 )
Profit or (Loss) for Period 20,129 17,280

The notes form part of these financial statements

TYPHOONELITE LTD

Balance sheet

As at 30 April 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 618,912 757,994
Total fixed assets: 618,912 757,994
Current assets
Debtors: 1,913 1,430
Cash at bank and in hand: 6,428 8,848
Total current assets: 8,341 10,278
Creditors: amounts falling due within one year: 5 ( 483,478 ) ( 466,759 )
Net current assets (liabilities): ( 475,137 ) ( 456,481 )
Total assets less current liabilities: 143,775 301,513
Creditors: amounts falling due after more than one year: 6 ( 101,530 ) ( 282,235 )
Provision for liabilities: ( 5,299 ) ( 6,075 )
Accruals and deferred income: ( 5,533 ) ( 1,920 )
Total net assets (liabilities): 31,413 11,283

The notes form part of these financial statements

TYPHOONELITE LTD

Balance sheet continued

As at 30 April 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 31,313 11,183
Shareholders funds: 31,413 11,283

For the year ending 30 April 2024 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

This report was approved by the board of directors on 20 January 2025
And Signed On Behalf Of The Board By:

Name: Ms Hon Ling Regina Li
Status: Director

The notes form part of these financial statements

TYPHOONELITE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Sale of goods:
    Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

    Rendering of services:
    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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
    Fixtures & Fittings - 25% Straight Line

    Investment Properties:
    All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

TYPHOONELITE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies (continued)

    Other accounting policies

    Taxation: Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

TYPHOONELITE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 2 2

TYPHOONELITE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 3. Off balance sheet disclosure

    No

TYPHOONELITE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Tangible Assets

Total
Cost £
At 01 May 2023 774,491
Additions -
Disposals (139,082)
Revaluations -
Transfers -
At 30 April 2024 635,409
Depreciation
At 01 May 2023 16,497
Charge for year 0
On disposals -
Other adjustments -
At 30 April 2024 16,497
Net book value
At 30 April 2024 618,912
At 30 April 2023 757,994

Tangible assets refer to UK residential properties

TYPHOONELITE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Creditors: amounts falling due within one year note

It refers to Directors' loan

TYPHOONELITE LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

6. Creditors: amounts falling due after more than one year note

It refers to bank loans