Registered number
14351565
Rong Guang Ltd
Filleted Accounts
30 September 2024
Rong Guang Ltd
Registered number: 14351565
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 101,598 101,598
Tangible assets 4 93,748 28,200
195,346 129,798
Current assets
Stocks 4,801 1,454
Debtors 5 7,850 18,300
Cash at bank and in hand 35,976 69,412
48,627 89,166
Creditors: amounts falling due within one year 6 (32,292) (47,405)
Net current assets 16,335 41,761
Total assets less current liabilities 211,681 171,559
Creditors: amounts falling due after more than one year 7 (101,929) (106,900)
Provisions for liabilities (12,762) -
Net assets 96,990 64,659
Capital and reserves
Called up share capital 100 100
Profit and loss account 96,890 64,559
Shareholder's funds 96,990 64,659
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Changzhi Lin
Director
Approved by the board on 13 February 2025
Rong Guang Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets at rates calculated as follows:
Plant and machinery 18% reducing balance
Motor vehicle 18% reducing balance
Fixtures, fittings, tools and equipment 6% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 101,598
At 30 September 2024 101,598
Amortisation
At 30 September 2024 -
Net book value
At 30 September 2024 101,598
At 30 September 2023 101,598
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 30,000 - 30,000
Additions - 82,000 82,000
At 30 September 2024 30,000 82,000 112,000
Depreciation
At 1 October 2023 1,800 - 1,800
Charge for the year 1,692 14,760 16,452
At 30 September 2024 3,492 14,760 18,252
Net book value
At 30 September 2024 26,508 67,240 93,748
At 30 September 2023 28,200 - 28,200
5 Debtors 2024 2023
£ £
Other debtors 7,850 18,300
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 2,546
Taxation and social security costs 24,838 35,133
Other creditors 7,454 9,726
32,292 47,405
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 66,029 -
Other creditors 35,900 106,900
101,929 106,900
8 Other information
Rong Guang Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 Toft Road
Knutsford
WA16 0PE
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