Company Registration No. 06152108 (England and Wales)
LOTUS GLOBAL CO LTD
Unaudited accounts
for the year ended 30 April 2024
LOTUS GLOBAL CO LTD
Unaudited accounts
Contents
LOTUS GLOBAL CO LTD
Company Information
for the year ended 30 April 2024
Company Number
06152108 (England and Wales)
Registered Office
23 MAINE STREET
READING
RG2 6AG
ENGLAND
LOTUS GLOBAL CO LTD
Statement of financial position
as at 30 April 2024
Tangible assets
163,905
83,997
Cash at bank and in hand
14,060
27,874
Creditors: amounts falling due within one year
(119,674)
(38,641)
Net current liabilities
(29,912)
(32)
Total assets less current liabilities
133,993
83,965
Creditors: amounts falling due after more than one year
(80,665)
(4,311)
Called up share capital
100
100
Profit and loss account
53,228
79,554
Shareholders' funds
53,328
79,654
For the year ending 30 April 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 4 December 2024 and were signed on its behalf by
Xue Li Wei
Director
Company Registration No. 06152108
LOTUS GLOBAL CO LTD
Notes to the Accounts
for the year ended 30 April 2024
LOTUS GLOBAL CO LTD is a private company, limited by shares, registered in England and Wales, registration number 06152108. The registered office is 23 MAINE STREET, READING, RG2 6AG, ENGLAND.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% on cost
Computer equipment
20% on cost
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
LOTUS GLOBAL CO LTD
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2023
95,500
16,176
111,676
Additions
160,829
2,600
163,429
Disposals
(47,500)
-
(47,500)
At 30 April 2024
208,829
18,776
227,605
At 1 May 2023
19,100
8,579
27,679
Charge for the year
41,766
3,755
45,521
On disposals
(9,500)
-
(9,500)
At 30 April 2024
51,366
12,334
63,700
At 30 April 2024
157,463
6,442
163,905
At 30 April 2023
76,400
7,597
83,997
Amounts falling due within one year
Other debtors
25,350
10,735
Amounts falling due after more than one year
Accrued income and prepayments
790
-
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,049
1,999
Obligations under finance leases and hire purchase contracts
19,050
-
Taxes and social security
11,422
26,238
Other creditors
4,234
4,234
Loans from directors
82,919
2,897
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
78,404
-
LOTUS GLOBAL CO LTD
Notes to the Accounts
for the year ended 30 April 2024
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).