Company Registration No. 10812535 (England and Wales)
Seewoo Chinatown Limited
Unaudited accounts
for the year ended 31 March 2024
Seewoo Chinatown Limited
Unaudited accounts
Contents
Seewoo Chinatown Limited
Company Information
for the year ended 31 March 2024
Company Number
10812535 (England and Wales)
Registered Office
18-21 Lisle Street
London
London
WC2H 7BA
England
Seewoo Chinatown Limited
Statement of financial position
as at 31 March 2024
Tangible assets
72,593
55,210
Inventories
190,795
242,495
Cash at bank and in hand
10,496
105,766
Creditors: amounts falling due within one year
(690,428)
(692,087)
Net current assets
114,985
73,579
Total assets less current liabilities
187,578
128,789
Creditors: amounts falling due after more than one year
-
(18,833)
Net assets
187,578
109,956
Called up share capital
1,000
1,000
Profit and loss account
186,578
108,956
Shareholders' funds
187,578
109,956
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 February 2025 and were signed on its behalf by
Ms Y Li
Director
Company Registration No. 10812535
Seewoo Chinatown Limited
Notes to the Accounts
for the year ended 31 March 2024
Seewoo Chinatown Limited is a private company, limited by shares, registered in England and Wales, registration number 10812535. The registered office is 18-21 Lisle Street, London, London, WC2H 7BA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue from the sale of goods is recognised when the goods are physically delivered to or collected by the customer.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over the term of the lease
Plant & machinery
8 years straight line
Fixtures & fittings
8 years straight line
Computer equipment
5 years straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Seewoo Chinatown Limited
Notes to the Accounts
for the year ended 31 March 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2023
280,396
116,899
397,295
Additions
37,049
1,525
38,574
At 31 March 2024
317,445
118,424
435,869
At 1 April 2023
278,019
64,066
342,085
Charge for the year
6,082
15,109
21,191
At 31 March 2024
284,101
79,175
363,276
At 31 March 2024
33,344
39,249
72,593
At 31 March 2023
2,377
52,833
55,210
Amounts falling due within one year
Trade debtors
182,738
344,106
Other debtors
336,676
73,299
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
25,111
75,333
Trade creditors
417,594
386,714
Amounts owed to group undertakings and other participating interests
-
24,092
Taxes and social security
49,602
45,212
Other creditors
198,121
160,736
Seewoo Chinatown Limited
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024
2023
8
Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
711,496
334,943
9
Transactions with related parties
The company has taken exemptions under FRS102 paragraph 33.1A not to disclose transactions between fellow wholly owned subsidiaries.
The parent undertaking is SK Global Holding Limited, a company registered in England and Wales. No party has controlling interest in the company.
11
Average number of employees
During the year the average number of employees was 30 (2023: 28).