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Company registration number:05909891
WING FAT (MIDLANDS) LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 October 2023
WING FAT (MIDLANDS) LTD
BALANCE SHEET
AS AT 31 October 2023
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets3358,850390,358
358,850390,358
CURRENT ASSETS
Stocks800700
Debtors4524,034389,821
Cash at bank and in hand328,483192,067
853,317582,588
CREDITORS
Amounts falling due within one year 5 (194,260) (133,258)
NET CURRENT ASSETS 659,057 449,330
TOTAL ASSETS LESS
CURRENT LIABILITIES 1,017,907 839,688
Creditors falling due after one year6(101,816)(119,369)
PROVISIONS FOR LIABILITIES(32,809)(38,169)
NET ASSETS 883,282 682,150
CAPITAL AND RESERVES
Called-up equity share capital 7 100 100
Profit and loss account 883,182 682,050
SHAREHOLDERS FUNDS 883,282 682,150
For the year ending 31 October 2023 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 04 February 2025 and signed on its behalf.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.
..........................................................................
Mr Ly Quang To
04 February 2025
The annexed notes form part of these financial statements.

WING FAT (MIDLANDS) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023
Share Share P and L Revaluation Other Total
Capital Premium Account reserve reserves equity
£ £ £ £ £ £
Balance at 1 November 20211000541,34600541,446
Changes in equity
Total Comprehensive Income00140,70400140,704
Balance at 31 October 20221000682,05000682,150
Changes in equity
Total comprehensive income00201,13200201,132
Balance at 31 October 20231000883,18200883,282

WING FAT (MIDLANDS) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
1. Accounting policies
Statutory information
The company is registered in England and its registered number is 05909891 The company is a private company limited by shares. Its registered office is 2 Wellington Street, Winson Green, Birmingham, B18 4NN.
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost covention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.
Fixed Assets
Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Motor vehicles 25% reducing balance basis Fixtures and fittings 15% reducing balance basis Plant and machinery 10% straight line basis
Stocks and Work In Progress
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.
Leasing
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Government grants
Government Grant for boilers A Government Grant of £29,948.00 from Birmingham City Council has been granted for the purpose of purchasing industrial boilers. As capital-based grant, it will be recognised in profit and loss on a systematic basis over the useful economic life of the asset. The government grant will therefore be released as income at the rate of 10% per year, the rate of depreciation of the industrial boilers.
Deferred Taxation
Deferred tax is provided on the liablity method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. The company has not adopted a policy of discounting deferred tax assets and liabilities.
Pension Scheme
The company operates a defined contribution pension scheme, NEST, and the pension charge represents the amounts payable by the company to the fund in respect of the year.
2.Employees
The average number of persons employed by the company (including directors) during the year was 11.
3.Tangible fixed assets
Land/Buildings Plant Motor F and F Total
Cost
At start of period 198,059 59,323 128,414 257,426 643,222
Additions 0 0 0 6,634 6,634
At end of period 198,059 59,323 128,414 264,060 649,856
Depreciation
At start of period 10,194 27,109 88,034 127,527 252,864
Provided during the period 1,699 5,868 10,095 20,480 38,142
At end of period 11,893 32,977 98,129 148,007 291,006
Net Book Value
At start of period 187,865 32,214 40,380 129,899 390,358
At end of period 186,166 26,346 30,285 116,053 358,850
4.Debtors
20232022
££
Due within one year
Trade Debtors159,884110,000
Other Debtors63,42250,139
Prepayments and accrued income6,9286,171
Deferred tax current asset17,6030
247,837166,310
Due after one year
Other Debtors276,197223,511
524,034389,821
"Due within one year Other Debtors" are VAT tax repayments. "Deferred tax current asset" is S455 tax that is currently recoverable from HMRC at the account year end. "Due after one year Other Debtors" include loans made to: Mr (Vincent) Assay To (shareholder and employee), Mrs Jade Rathore (former director), St James Exchange Hub Ltd, Sky High Wing Ltd, and Mr Ly Quang To (shareholder and current director).
5.Creditors due within one year
20232022
££
Trade creditors66031,131
Bank Loans and Overdrafts24,97724,134
Corporation Tax132,26743,605
Other taxes and social security costs3,3754,703
Other creditors11,97714,973
Accruals and deferred income20,84514,338
Loan from directors159374
194,260 133,258
6.Creditors due after one year
20232022
££
Bank Loans101,816119,369
101,816 119,369
7. Share capital Alloted, Issued and fully paid
2023 2022
£ £
Ordinary shares of £1 each100100
Total issued share capital100100