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REGISTERED NUMBER: 12692021 (England and Wales)















Financial Statements for the Period 1 July 2023 to 31 December 2023

for

Pop Mart Uk Corporation Ltd

Pop Mart Uk Corporation Ltd (Registered number: 12692021)






Contents of the Financial Statements
for the Period 1 July 2023 to 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Pop Mart Uk Corporation Ltd

Company Information
for the Period 1 July 2023 to 31 December 2023







DIRECTORS: Duk Il Moon
Jingbing Yang
Yan Zhao





REGISTERED OFFICE: 9.04 Exchange Tower
1 Harbour Exchange Square
London
E14 9GE





REGISTERED NUMBER: 12692021 (England and Wales)





AUDITORS: Shinewing Wilson Accountancy Limited
Chartered Certified Accountants
and Statutory Auditors
9 St Clare Street
London
EC3N 1LQ

Pop Mart Uk Corporation Ltd (Registered number: 12692021)

Statement of Financial Position
31 December 2023

31.12.23 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 18,749 30,591
Tangible assets 5 529,467 104,111
548,216 134,702

CURRENT ASSETS
Stocks 959,364 251,222
Debtors 6 671,985 170,600
Cash at bank and in hand 281,737 203,255
1,913,086 625,077
CREDITORS
Amounts falling due within one year 7 1,793,774 150,276
NET CURRENT ASSETS 119,312 474,801
TOTAL ASSETS LESS CURRENT
LIABILITIES

667,528

609,503

PROVISIONS FOR LIABILITIES 117,403 -
NET ASSETS 550,125 609,503

CAPITAL AND RESERVES
Called up share capital 24 24
Share premium 234,835 234,835
Retained earnings 315,266 374,644
550,125 609,503

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 3 March 2025 and were signed on its behalf by:





Yan Zhao - Director


Pop Mart Uk Corporation Ltd (Registered number: 12692021)

Notes to the Financial Statements
for the Period 1 July 2023 to 31 December 2023

1. STATUTORY INFORMATION

Pop Mart Uk Corporation 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.

Going Concern
The company had net current assets of £119K and net assets of £550K including a cash reserve of £282K at the balance sheet date to support its working capital requirements. Based on these, the Director has concluded that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Cost includes expenses directly attributable to bringing the asset to its location and condition so that it is capable of operating as intended by management. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery - 4 years straight line
Fixtures and Fittings - 10 years straight line
Computer Equipment - 3 years straight line

Assets under development are stated at cost. These assets are not depreciated until it is available for use and are reviewed for impairment at each reporting date.

Stocks
Stocks are valued at the lower of cost and estimated selling price, after making due allowance for obsolete and slow moving items.

Pop Mart Uk Corporation Ltd (Registered number: 12692021)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Financial instruments are recognised 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 and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, and loans from group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Share capital
Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.

Taxation
Taxation for the period 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 statement of financial position date.


Pop Mart Uk Corporation Ltd (Registered number: 12692021)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Operating leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 31 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 31 December 2023 58,566
AMORTISATION
At 1 July 2023 27,975
Charge for period 11,842
At 31 December 2023 39,817
NET BOOK VALUE
At 31 December 2023 18,749
At 30 June 2023 30,591

Pop Mart Uk Corporation Ltd (Registered number: 12692021)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 134,202
Additions 452,515
At 31 December 2023 586,717
DEPRECIATION
At 1 July 2023 30,091
Charge for period 27,159
At 31 December 2023 57,250
NET BOOK VALUE
At 31 December 2023 529,467
At 30 June 2023 104,111

Plant and machinery includes assets under development of £60,443.12.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 30.6.23
£    £   
Trade debtors 122,219 15,640
Amounts owed by group undertakings 357,512 58,396
Other debtors 192,254 96,564
671,985 170,600

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 30.6.23
£    £   
Trade creditors 109,868 3,992
Amounts owed to group undertakings 1,502,072 -
Taxation and social security 61,375 50,209
Other creditors 120,459 96,075
1,793,774 150,276

Pop Mart Uk Corporation Ltd (Registered number: 12692021)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2023

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for opinion
The company did not conduct a physical stock count at the year-end date of 31 December 2023, and we were unable to perform alternative audit procedures to verify the existence and valuation of inventory, which is recorded in the financial statements at £959,364. As a result, we were unable to determine whether any adjustments might be necessary in respect of inventory, cost of goods sold, and the related impact on the financial position and performance of the company.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Nijendra Dhungana (Senior Statutory Auditor)
for and on behalf of Shinewing Wilson Accountancy Limited

9. ULTIMATE CONTROLLING PARTY

The immediate parent company is Pop Mart UK Limited, a company registered in the UK and the intermediate parent company is Pop Mart International Group Limited, a company registered in Cayman Islands.

The ultimate controlling party is Mr Ning Wang.