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REGISTERED NUMBER: 08857802 (England and Wales)






WONG TAI LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






WONG TAI LTD (REGISTERED NUMBER: 08857802)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WONG TAI LTD

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTOR: S M Law





REGISTERED OFFICE: 29 Mayfair Drive
Fazeley
Tamworth
Staffordshire
B78 3TG





REGISTERED NUMBER: 08857802 (England and Wales)





ACCOUNTANTS: Weatherer Bailey Bragg
Chartered Accountants
100 Boldmere Road
Sutton Coldfield
West Midlands
B73 5UB

WONG TAI LTD (REGISTERED NUMBER: 08857802)

BALANCE SHEET
31 May 2024

31/5/24 31/5/23
Notes £    £   
CURRENT ASSETS
Debtors 5 - 197,273
Cash at bank 21 391
21 197,664
CREDITORS
Amounts falling due within one year 6 (679 ) (10,984 )
NET CURRENT (LIABILITIES)/ASSETS (658 ) 186,680
TOTAL ASSETS LESS CURRENT
LIABILITIES

(658

)

186,680

CREDITORS
Amounts falling due after more than one
year

7

-

(26,608

)
NET (LIABILITIES)/ASSETS (658 ) 160,072

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (758 ) 159,972
SHAREHOLDERS' FUNDS (658 ) 160,072

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

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

The director acknowledges his 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.

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 director and authorised for issue on 26 February 2025 and were signed by:





S M Law - Director


WONG TAI LTD (REGISTERED NUMBER: 08857802)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Wong Tai Ltd 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.

The company has now ceased to trade and is in the process of closing the business down.

Goodwill
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 5 years. Provision is made for any impairment.

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.

Creditors
Creditors with no stated interest rate and payable 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.

3. EMPLOYEES AND DIRECTORS

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

WONG TAI LTD (REGISTERED NUMBER: 08857802)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 10,000
AMORTISATION
At 1 June 2023
and 31 May 2024 10,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Amounts owed by participating interests - 197,268
Other debtors - 5
- 197,273

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Bank loans and overdrafts - 9,849
Other creditors 145 -
Accrued expenses 534 1,135
679 10,984

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/24 31/5/23
£    £   
Bank loans - 1-2 years - 10,098
Bank loans - 2-5 years - 16,510
- 26,608

8. SECURED DEBTS

The following secured debts are included within creditors:

31/5/24 31/5/23
£    £   
Bank loans - 36,457

The UK Government has provided a guarantee for the bounce back loan should the company default on repayment.

WONG TAI LTD (REGISTERED NUMBER: 08857802)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/24 31/5/23
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

No interest is charged on directors loan accounts and there are no fixed repayment terms.