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REGISTERED NUMBER: 04216636 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Kaihua (UK) Limited

Kaihua (UK) Limited (Registered number: 04216636)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kaihua (UK) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C L Xia
H K Ge
G Huang





SECRETARY: C L Xia





REGISTERED OFFICE: 34-36 Grand Parade
Eastbourne
East Sussex
BN21 3YT





REGISTERED NUMBER: 04216636 (England and Wales)





ACCOUNTANTS: Warren House Accountants Limited
4 The Courtyard
Holmsted Farm
Staplefield Road
Haywards Heath
RH17 5JF

Kaihua (UK) Limited (Registered number: 04216636)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,508,479 1,533,146

CURRENT ASSETS
Stocks 730,171 730,171
Debtors 5 41,586 27,111
Cash at bank and in hand 180,726 283,962
952,483 1,041,244
CREDITORS
Amounts falling due within one year 6 216,510 173,248
NET CURRENT ASSETS 735,973 867,996
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,244,452

2,401,142

CREDITORS
Amounts falling due after more than one
year

7

2,955,600

2,965,572
NET LIABILITIES (711,148 ) (564,430 )

CAPITAL AND RESERVES
Called up share capital 8 1,252 1,252
Share premium 598,750 598,750
Revaluation reserve 9 492,386 492,386
Retained earnings (1,803,536 ) (1,656,818 )
SHAREHOLDERS' FUNDS (711,148 ) (564,430 )

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

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

The directors acknowledge their 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.

Kaihua (UK) Limited (Registered number: 04216636)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2025 and were signed on its behalf by:





C L Xia - Director


Kaihua (UK) Limited (Registered number: 04216636)

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

1. STATUTORY INFORMATION

Kaihua (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Kaihua (UK) Limited (Registered number: 04216636)

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

2. ACCOUNTING POLICIES - continued

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 39 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
COST
At 1 April 2023 1,900,000 101,225 411,314
Additions - - 3,126
At 31 March 2024 1,900,000 101,225 414,440
DEPRECIATION
At 1 April 2023 400,000 99,894 380,363
Charge for year 20,000 265 6,815
At 31 March 2024 420,000 100,159 387,178
NET BOOK VALUE
At 31 March 2024 1,480,000 1,066 27,262
At 31 March 2023 1,500,000 1,331 30,951

Kaihua (UK) Limited (Registered number: 04216636)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 3,800 34,959 2,451,298
Additions - - 3,126
At 31 March 2024 3,800 34,959 2,454,424
DEPRECIATION
At 1 April 2023 3,614 34,281 918,152
Charge for year 186 527 27,793
At 31 March 2024 3,800 34,808 945,945
NET BOOK VALUE
At 31 March 2024 - 151 1,508,479
At 31 March 2023 186 678 1,533,146

The freehold property was revalued in 2003 by the directors using market value based evidence for similar businesses in the local area.

The company has elected to use the revalued amount of the property of £1,900,000 as its deemed cost and is being depreciated over the assets UEL of 50 years.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 5,116 827
Other debtors 36,470 26,284
41,586 27,111

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 9,976 9,727
Trade creditors 50,319 33,120
Taxation and social security 25,046 23,517
Other creditors 131,169 106,884
216,510 173,248

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 21,594 31,567
Other creditors 2,934,006 2,934,005
2,955,600 2,965,572

Kaihua (UK) Limited (Registered number: 04216636)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1,252 Ordinary 1 1,252 1,252

9. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 492,386

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date the company owed the director, C L Xia, £45,698 (2023: £46,403). The loan is unsecured, interest free and has no set repayment terms.


As at the balance sheet date the company owed the director, G Huang, £726,629 (2023: £726,629). The loan is unsecured, interest free and has no set repayment terms.





11. RELATED PARTY DISCLOSURES

As at the balance sheet date, the company owed Wenzhou Dafa Property Development Co Limited, a shareholder of the company, £2,207,376 (2023: £2,207,376). The loan is interest free, unsecured and has no set repayment terms.





12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.