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Registered Number: 11542233


 

 

 

MAN LEE 128 LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director Yun CHEN
Registered Number 11542233
Registered Office 189 Warrington Road
PRESCOT
MERSEYSIDE
L35 5AF
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 August 2024.
Principal activities
Principal activity of the company during the financial year was of take away food shop
Director
The director who served the company throughout the year was as follows:
Yun CHEN
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Yun CHEN
Director

Date approved: 17 March 2025
2
 
 
Notes
 
2024
£
  2023
£
Turnover   590,482 
Cost of sales   (259,971)
Gross profit   330,511 
Administrative expenses (33,063)   (237,299)
Other operating expenses   (5,497)
Operating profit/(loss) (33,063)   87,715 
Profit/(Loss) on ordinary activities before taxation (33,063)   87,715 
Tax on profit on ordinary activities   (18,363)
Profit/(Loss) for the financial year (33,063)   69,352 
 
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3   15,000 
Tangible fixed assets 4   18,198 
  33,198 
Current assets      
Cash at bank and in hand 274,684    312,322 
Creditors: amount falling due within one year 5   (37,773)
Net current assets 274,684    274,549 
 
Total assets less current liabilities 274,684    307,747 
Net assets 274,684    307,747 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 274,584    307,647 
Shareholders' funds 274,684    307,747 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 17 March 2025 and were signed by:


-------------------------------
Yun CHEN
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 September 2022 100  264,295  264,395 
Profit for the year 69,352  69,352 
Total comprehensive income for the year 69,352  69,352 
Dividends (26,000) (26,000)
Total investments by and distributions to owners (26,000) (26,000)
At 31 August 2023 100  307,647  307,747 
At 01 September 2023 100  307,647  307,747 
Profit for the year (33,063) (33,063)
Total comprehensive income for the year (33,063) (33,063)
Total investments by and distributions to owners
At 31 August 2024 100  274,584  274,684 
5
General Information
MAN LEE 128 LTD is a private company, limited by shares, registered in , registration number 11542233, registration address 189 Warrington Road, PRESCOT, MERSEYSIDE, L35 5AF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
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.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.

Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. 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:
Freehold Buildings                                              over 50 years
Leasehold land and buildings                             over the lease term
Plant and machinery                                           over 5 years
Fixtures, fittings, tools and equipment                over 5 years
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 11).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 September 2023 20,000    20,000 
Additions  
Disposals (20,000)   (20,000)
At 31 August 2024  
Amortisation
At 01 September 2023 5,000    5,000 
Charge for year  
On disposals (5,000)   (5,000)
At 31 August 2024  
Net book values
At 31 August 2024  
At 31 August 2023 15,000    15,000 

During the financial year ending 31st Aug 2024, the company disposed of its goodwill with a carrying value of £15,000 for zero proceeds. As a result, an impairment loss of  £15,000 has been recognized in the income statement for the year. This loss reflects the decision to cease operations and the resultant write-off of all intangible assets associated with the business.

4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 September 2023 31,348    31,348 
Additions  
Disposals (31,348)   (31,348)
At 31 August 2024  
Depreciation
At 01 September 2023 13,150    13,150 
Charge for year  
On disposals (13,150)   (13,150)
At 31 August 2024  
Net book values
Closing balance as at 31 August 2024  
Opening balance as at 01 September 2023 18,198    18,198 

During the financial year end 31st Aug 2024, the company disposed of its tangible assets with a carrying amount of £18,198 for zero proceeds. As a result, an impairment loss of £18,198 has been recognized in the income statement for the year. This loss reflects the decision to cease operations and the resultant write off of all tangible assets associated with the business. 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   1,223 
Corporation Tax   18,311 
PAYE & Social Security   5 
Directors' Current Accounts   6,570 
VAT   11,664 
  37,773 

6