Registered number
10827247
HL Oriental House Limited
Unaudited Filleted Accounts
30 June 2024
HL Oriental House Limited
Registered number: 10827247
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 84,500 91,000
Tangible assets 4 77,022 41,122
161,522 132,122
Current assets
Stocks 18,000 15,330
Debtors 5 400,352 86,222
Cash at bank and in hand 218,454 438,977
636,806 540,529
Creditors: amounts falling due within one year 6 (236,205) (219,500)
Net current assets 400,601 321,029
Net assets 562,123 453,151
Capital and reserves
Called up share capital 100 100
Profit and loss account 562,023 453,051
Shareholder's funds 562,123 453,151
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr H Zhuang
Director
Approved by the board on 3 March 2025
HL Oriental House Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 130,000
At 30 June 2024 130,000
Amortisation
At 1 July 2023 39,000
Provided during the year 6,500
At 30 June 2024 45,500
Net book value
At 30 June 2024 84,500
At 30 June 2023 91,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 33,609 37,257 70,866
Additions 999 58,811 59,810
At 30 June 2024 34,608 96,068 130,676
Depreciation
At 1 July 2023 22,293 7,451 29,744
Charge for the year 4,696 19,214 23,910
At 30 June 2024 26,989 26,665 53,654
Net book value
At 30 June 2024 7,619 69,403 77,022
At 30 June 2023 11,316 29,806 41,122
5 Debtors 2024 2023
£ £
Other debtors 400,352 86,222
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 539
Taxation and social security costs 71,856 44,854
Other creditors 164,349 174,107
236,205 219,500
7 Controlling party
The company is under the control of its director, Mr H Zhuang, by virtue of his shareholdings.
8 Other information
HL Oriental House Limited is a private company limited by shares and incorporated in England. Its registered office is:
114 Hamlet Court Road
Westcliff on Sea
Essex
SS0 7LP
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