Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-301The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activitytruefalse2023-06-16falsefalse 14939683 2023-06-15 14939683 2023-06-16 2024-06-30 14939683 2022-07-01 2023-06-15 14939683 2024-06-30 14939683 c:Director1 2023-06-16 2024-06-30 14939683 d:LeaseholdInvestmentProperty 2023-06-16 2024-06-30 14939683 d:LeaseholdInvestmentProperty 2024-06-30 14939683 d:CurrentFinancialInstruments 2024-06-30 14939683 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 14939683 d:ShareCapital 2024-06-30 14939683 d:RetainedEarningsAccumulatedLosses 2024-06-30 14939683 c:OrdinaryShareClass1 2023-06-16 2024-06-30 14939683 c:OrdinaryShareClass1 2024-06-30 14939683 c:FRS102 2023-06-16 2024-06-30 14939683 c:AuditExempt-NoAccountantsReport 2023-06-16 2024-06-30 14939683 c:FullAccounts 2023-06-16 2024-06-30 14939683 c:PrivateLimitedCompanyLtd 2023-06-16 2024-06-30 14939683 e:PoundSterling 2023-06-16 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14939683









JINQIYUAN NO 2 LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2024

 
JINQIYUAN NO 2 LTD
REGISTERED NUMBER: 14939683

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
Note
£

Fixed assets
  

Investment property
 4 
5,547,907

  
5,547,907

Current assets
  

Debtors: amounts falling due within one year
 5 
25,298

  
25,298

Creditors: amounts falling due within one year
 6 
(5,474,015)

Net current (liabilities)/assets
  
 
 
(5,448,717)

Total assets less current liabilities
  
99,190

  

Net assets
  
99,190


Capital and reserves
  

Called up share capital 
 7 
100

Profit and loss account
  
99,090

  
99,190


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 February 2025.




Jinfu Chen
Director
Page 1

 
JINQIYUAN NO 2 LTD
REGISTERED NUMBER: 14939683
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
JINQIYUAN NO 2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

Jinqiyuan No 2  Ltd is a private company limited by shares and registered in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS. The company was incorporated on 16 June 2023 and commenced to trade on 31 July 2023. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rental Income
Investment properties are rented to tenants under tenancy contracts. The rental income received is recognised through profit or loss on a straight-line basis over the term of the contract. Any rent-free period is spread over the period of the contract. 

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 3

 
JINQIYUAN NO 2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 4

 
JINQIYUAN NO 2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

3.


Employees




The average monthly number of employees, including the director, during the period was as follows:


        2024
            No.






Director
1


4.


Investment property


Leasehold investment properties

£



Valuation


Additions at cost
5,547,907



At 30 June 2024
5,547,907

The 2024 valuations were made by Jinfu Chen, on an open market value for existing use basis.








5.


Debtors

2024
£


Prepayments and accrued income
25,298

25,298


Page 5

 
JINQIYUAN NO 2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
1,800

Corporation tax
30,469

Other creditors
5,398,491

Accruals and deferred income
43,255

5,474,015



7.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


On 16 June 2023, the company issued 100 Ordinary shares of £1.00 each for cash at par.


8.


Related party transactions

Jinfu Chen, a director of the company, provided the company with an interest free loan. At the statement of financial position date, Jinqiyuan No 2 Limited owed Jinfu Chen £5,395,579.


9.


Controlling party

The company is owned and controlled by Jinfu Chen.

 
Page 6