Registered number
11098336
JIA SHANGHAI LIMITED
Filleted Accounts
For the year ended
31 July 2024
KHMM
CHARTERED MANAGEMENT ACCOUNTANTS
7-8 WING YIP BUSINESS CENTRE
395 EDGWARE ROAD
LONDON
NW2 6LN
Tel: 0208 208 2085
JIA SHANGHAI LIMITED
Registered number: 11098336
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 672,443 741,966
Current assets
Stocks 13,865 14,410
Debtors 4 165,884 251,918
Cash at bank and in hand 306,613 411,625
486,362 677,953
Creditors: amounts falling due within one year 5 (823,030) (1,099,289)
Net current liabilities (336,668) (421,336)
Net assets 335,775 320,630
Capital and reserves
Called up share capital 380,000 380,000
Profit and loss account (44,225) (59,370)
Shareholders' funds 335,775 320,630
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 July 2024 the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Director's responsibilities:
The members have 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 SUNJIE WANG
Director
Approved by the board on 12 March 2025
JIA SHANGHAI LIMITED
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents net retail sales excluding Value Added Tax.
Revenue from restaurant sales is recognised on completion of the transaction with the customer. In the case of bookings, when a deposit is taken, revenue is recognised when the company has fulfilled its obligation as per the contract, usually when the customer has been provided with the goods and services as the reservation intended. Revenue from outside catering recognised when the outside catering has been delivered at the venue and services provided as intended.
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:
Computer equipment 33.33% per annum on cost
Fixtures, fittings, tools and equipment 15% per annum on cost
Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand.
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
The pension costs charged in the financial statements represents the contribution payable by the Company during the period.
The regular cost of providing retirement pensions is charged to the profit and loss account in accordance with Work Place Pension regulations.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 31 32
3 Tangible fixed assets
Short Leasehold Leasehold Improvement Fixtures, Fittings & Equipment Computer Equipment Crockery & Cutlery Total
£ £ £ £ £ £
Cost
At 1 August 2023 42,879 465,921 510,660 12,724 6,437 1,038,621
Additions - 7,063 1,260 - 8,323
At 31 July 2024 42,879 465,921 517,723 13,984 6,437 1,046,944
Depreciation
At 1 August 2023 - 284,349 12,306 - 296,655
Charge for the year - 77,140 706 - 77,846
At 31 July 2024 - - 361,489 13,012 - 374,501
Net book value
At 31 July 2024 42,879 465,921 156,234 972 6,437 672,443
At 31 July 2023 42,879 465,921 226,311 418 6,437 741,966
4 Debtors 2024 2023
£ £
Trade debtors 22,035 56,386
Other debtors 143,849 195,532
165,884 251,918
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 34,918 46,741
Taxation and social security costs 69,222 85,893
Other creditors 718,890 966,655
823,030 1,099,289
6 Related party transactions
There were no other transactions with the Director or other Related Parties during the period.
7 Other information
JIA SHANGHAI LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
8 Wing Yip Business Centre
395 Edgeware Road
London
NW2 6LN
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