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REGISTERED NUMBER: 07910859 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

Fu Sing Limited

Fu Sing Limited (Registered number: 07910859)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

Fu Sing Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: V C Van





SECRETARY:





REGISTERED OFFICE: 129 High Street
Banstead
Surrey
SM7 2NS





REGISTERED NUMBER: 07910859 (England and Wales)





ACCOUNTANTS: Gihi Associates Limited
Chartered Certified Accountants
90 St Margarets Avenue
Sutton
Surrey
SM3 9TT

Fu Sing Limited (Registered number: 07910859)

Statement of Financial Position
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,279 25,747
14,279 25,747

CURRENT ASSETS
Stocks 5,125 5,175
Debtors 6 1,319 -
Cash at bank and in hand 39,340 37,014
45,784 42,189
CREDITORS
Amounts falling due within one year 7 32,810 37,894
NET CURRENT ASSETS 12,974 4,295
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,253

30,042

CREDITORS
Amounts falling due after more than one
year

8

(13,929

)

(23,929

)

PROVISIONS FOR LIABILITIES (615 ) (636 )
NET ASSETS 12,709 5,477

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 12,609 5,377
SHAREHOLDERS' FUNDS 12,709 5,477

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Fu Sing Limited (Registered number: 07910859)

Statement of Financial Position - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 January 2025 and were signed by:





V C Van - Director


Fu Sing Limited (Registered number: 07910859)

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

1. STATUTORY INFORMATION

Fu Sing Limited is a private company, limited by shares , registered in England and Wales. 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 2013, is being amortised evenly over its estimated useful life of five 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.
Short leasehold - 20% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Fu Sing Limited (Registered number: 07910859)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 9,000
AMORTISATION
At 1 February 2023
and 31 January 2024 9,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 56,000 305 1,916 8,151 66,372
Additions - - - 666 666
At 31 January 2024 56,000 305 1,916 8,817 67,038
DEPRECIATION
At 1 February 2023 33,600 264 1,240 5,521 40,625
Charge for year 11,200 8 102 824 12,134
At 31 January 2024 44,800 272 1,342 6,345 52,759
NET BOOK VALUE
At 31 January 2024 11,200 33 574 2,472 14,279
At 31 January 2023 22,400 41 676 2,630 25,747

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 1,319 -

Fu Sing Limited (Registered number: 07910859)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 1,645 835
Taxation and social security 18,368 21,378
Other creditors 2,797 5,681
32,810 37,894

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 13,929 23,929

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Fu Sing Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fu Sing Limited for the year ended 31 January 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Fu Sing Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fu Sing Limited and state those matters that we have agreed to state to the director of Fu Sing Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Fu Sing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fu Sing Limited. You consider that Fu Sing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fu Sing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Gihi Associates Limited
Chartered Certified Accountants
90 St Margarets Avenue
Sutton
Surrey
SM3 9TT


29 January 2025