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UK I-SMARTLIFE COMPANY LIMITED

Registered Number
13378250
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

UK I-SMARTLIFE COMPANY LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

ZHANG, Dan

Registered Address

36 Upper Brook Street
London
W1K 7QJ

Registered Number

13378250 (England and Wales)
UK I-SMARTLIFE COMPANY LIMITED
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3367-
Tangible assets4612-
979-
Current assets
Stocks51,948-
Debtors62,63871,744
Cash at bank and on hand48,82925,258
53,41597,002
Creditors amounts falling due within one year7(129,263)(96,218)
Net current assets (liabilities)(75,848)784
Total assets less current liabilities(74,869)784
Net assets(74,869)784
Capital and reserves
Called up share capital100100
Profit and loss account(74,969)684
Shareholders' funds(74,869)784
The financial statements were approved and authorised for issue by the Director on 21 February 2025, and are signed on its behalf by:
ZHANG, Dan
Director
Registered Company No. 13378250
UK I-SMARTLIFE COMPANY LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A, as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The parent company has indicated its willingness to provide the company with the necessary working capital for the foreseeable future. On this basis, the director considers it appropriate to adopt the going concern basis of accounting. The financial statements do not include adjustments that would result from the withdrawal of this financial support.
Revenue from sale of goods
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount. Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Other

Total

££
Cost or valuation
Additions440440
At 31 May 24440440
Amortisation and impairment
Charge for year7373
At 31 May 247373
Net book value
At 31 May 24367367
At 31 May 23--
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions817817
At 31 May 24817817
Depreciation and impairment
Charge for year205205
At 31 May 24205205
Net book value
At 31 May 24612612
At 31 May 23--
5.Stocks

2024

2023

££
Other stocks1,948-
Total1,948-
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables51871,444
Other debtors1,272300
Prepayments and accrued income848-
Total2,63871,744
7.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties10,6352,028
Taxation and social security-160
Other creditors118,62892,229
Accrued liabilities and deferred income-1,801
Total129,26396,218