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COMPANY REGISTRATION NUMBER: 10434236
HK Living Limited
Filleted Unaudited Abridged Financial Statements
For the year ended
30 April 2024
R E Jones & co
HK Living Limited
Abridged Financial Statements
Period from 1 November 2022 to 30 April 2024
Contents
Page
Officers and professional advisers
1
Abridged statement of financial position
2
Notes to the abridged financial statements
4
R E Jones & co
HK Living Limited
Officers and Professional Advisers
Director
M Masiello
Registered office
132 Burnt Ash Road
London
England
SE12 8PU
Accountants
R. E. Jones & Co.
Chartered accountants
132 Burnt Ash Road
Lee
London
SE12 8PU
Bankers
LLoyds Bank PLC
PO Box 1000
BX1 1LT
R E Jones & co
HK Living Limited
Abridged Statement of Financial Position
30 April 2024
30 Apr 24
31 Oct 22
Note
£
£
Fixed assets
Tangible assets
5
6,047
2,919
Current assets
Stocks
9,000
15,000
Debtors
317
918
Cash at bank and in hand
87
762
-------
---------
9,404
16,680
Creditors: amounts falling due within one year
37,988
37,030
---------
---------
Net current liabilities
28,584
20,350
---------
---------
Total assets less current liabilities
( 22,537)
( 17,431)
---------
---------
Net liabilities
( 22,537)
( 17,431)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 22,637)
( 17,531)
---------
---------
Shareholders deficit
( 22,537)
( 17,431)
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the period ending 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.
R E Jones & co
HK Living Limited
Abridged Statement of Financial Position (continued)
30 April 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 24 January 2025 , and are signed on behalf of the board by:
M Masiello
Director
Company registration number: 10434236
R E Jones & co
HK Living Limited
Notes to the Abridged Financial Statements
Period from 1 November 2022 to 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 132 Burnt Ash Road, London, SE12 8PU, England.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
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 stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Defined contribution plans
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 6 (2022: 3 ).
5. Tangible assets
£
Cost
At 1 November 2022
5,478
Additions
5,558
---------
At 30 April 2024
11,036
---------
Depreciation
At 1 November 2022
2,559
Charge for the period
2,430
---------
At 30 April 2024
4,989
---------
Carrying amount
At 30 April 2024
6,047
---------
At 31 October 2022
2,919
---------
6. Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
30 Apr 24
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
M Masiello
( 11,192)
3,490
( 7,702)
---------
-------
-------
31 Oct 22
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
M Masiello
( 448)
( 10,744)
( 11,192)
----
---------
---------