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Registered Number: 09038919
England and Wales

 

 

 


Abridged Accounts

for the year ended 29 April 2024

for

CHINESE BRITISH ENTERPRISE LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets
Intangible fixed assets 2 3,340    6,678 
Tangible fixed assets 3 84,695    117,861 
88,035    124,539 
Current assets
Inventories 4 15,532    30,000 
Debtors 5 214,337    208,456 
Cash at bank and in hand 79,197    249,877 
309,066    488,333 
Creditors: amount falling due within one year 6 (747,202)   (746,777)
Net current assets/(liabilities) (438,136)   (258,444)
 
Total assets less current liabilities (350,101)   (133,905)
Provisions for liabilities 7   28,236 
Net assets/(liabilities) (350,101)   (105,669)
 

Capital and reserves
Called up share capital 200,000    200,000 
Profit and loss account 8 (550,101)   (305,669)
Shareholders fund (350,101)   (105,669)
 
For the year ended 29 April 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 of the Companies Act 2006.
  2. The directors acknowledge 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 in accordance with the provisions applicable to companies subject to the small companies regime of Part 15 of the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).
Signed on behalf of the board of directors:


----------------------------------
Congyi Wang
Director

Date approved: 29 April 2025
1
Statutory Information
CHINESE BRITISH ENTERPRISE LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number 09038919, registration address 81 Meridian House Juniper Drive, London, SW18 1QS, England.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Going Concern
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
 
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
  • the company has transferred the significant risks and rewards of ownership to the buyer;
  • the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
  • the amount of revenue can be measured reliably;
  • it is probable that the company will receive the consideration due under the transaction; and
  • the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Operating lease rentals
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.
Pensions
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,229 (2023: £6,498).
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management
 
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
 
Depreciation is provided on the following basis:

Short-term leasehold property - Over 9 years
Plant and machinery - Over 5 years
 
The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
 
Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Share Capital
Ordinary share are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.

Intangible fixed assets

Cost or Valuation   Patents, trademarks & licenses   Total
    £   £
At 30 April 2023   33,384    33,384 
Additions    
At 29 April 2024   33,384    33,384 
Amortisation
At 30 April 2023   26,706    26,706 
Charge for year   3,338    3,338 
At 29 April 2024   30,044    30,044 
Net book values
At 29 April 2024   3,340    3,340 
At 29 April 2023   6,678    6,678 

3.

Tangible fixed assets

Cost or Valuation   Short leasehold   Plant and machinery   Total
    £   £   £
At 30 April 2023   297,723    104,024    401,747 
Additions      
At 29 April 2024   297,723    104,024    401,747 
Depreciation
At 30 April 2023   180,206    103,680    283,886 
Charge for year   33,080    86    33,166 
At 29 April 2024   213,286    103,766    317,052 
Net book values
Closing balance as at 29 April 2024   84,437    258    84,695 
Opening balance as at 30 April 2023   117,517    344    117,861 

4.

Inventories

2024
£
  2023
£
Stocks 15,532    30,000 
15,532    30,000 
5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade debtors 7,663    28,929 
Prepayments & accrued income 12,507    32,038 
Deposits paid 35,809    35,809 
Vat 158,358    111,680 
214,337    208,456 
6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade creditors 8,355   
Accruals & deferred income 156,383    114,520 
Other creditors 158,503    158,499 
Pension Payable 202    674 
Wages & salaries control account 16,446    28,866 
Directors' current account 401,439    436,257 
Social security & other tax 5,874    7,961 
747,202    746,777 
7.

Provisions for liabilities

2024
£
  2023
£
Provision for Corporation Tax   (28,236)
  (28,236)
8.

Profit and loss account

  2024
£
Balance at 30 April 2023 (305,669)
Loss for the year (244,432)
Balance at 29 April 2024 (550,101)

9.

Average number of employees

Average number of employees during the year were 33 (2023: 34).
10.

Related party transactions

As at the reporting date, the director C Wang was owed £401,439 (2023: £436,257) by the company. The loan was provided unsecured and interest-free, and repayable on demand.
2