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REGISTERED NUMBER: 05898428 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

CHINATECH SOURCING LIMITED

CHINATECH SOURCING LIMITED (REGISTERED NUMBER: 05898428)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHINATECH SOURCING LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTORS: M Q Statham
Ms J Querelle
Ms J C Statham





REGISTERED OFFICE: Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY





REGISTERED NUMBER: 05898428 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

CHINATECH SOURCING LIMITED (REGISTERED NUMBER: 05898428)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 32,630 48,572
Investments 6 107,423 47,060
140,053 95,632

CURRENT ASSETS
Stocks 31,865 -
Debtors 7 74,510 163,785
Cash at bank 279,414 247,762
385,789 411,547
CREDITORS
Amounts falling due within one year 8 82,068 101,196
NET CURRENT ASSETS 303,721 310,351
TOTAL ASSETS LESS CURRENT
LIABILITIES

443,774

405,983

PROVISIONS FOR LIABILITIES 7,500 9,229
NET ASSETS 436,274 396,754

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 436,174 396,654
SHAREHOLDERS' FUNDS 436,274 396,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CHINATECH SOURCING LIMITED (REGISTERED NUMBER: 05898428)

BALANCE SHEET - continued
30 September 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 3 February 2025 and were signed on its behalf by:





M Q Statham - Director


CHINATECH SOURCING LIMITED (REGISTERED NUMBER: 05898428)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

ChinaTech Sourcing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Intangible fixed assets
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer software - 33% on cost

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CHINATECH SOURCING LIMITED (REGISTERED NUMBER: 05898428)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023
and 30 September 2024 6,950
AMORTISATION
At 1 October 2023
and 30 September 2024 6,950
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

CHINATECH SOURCING LIMITED (REGISTERED NUMBER: 05898428)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 74,184
Additions 1,695
At 30 September 2024 75,879
DEPRECIATION
At 1 October 2023 25,612
Charge for year 17,637
At 30 September 2024 43,249
NET BOOK VALUE
At 30 September 2024 32,630
At 30 September 2023 48,572

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 October 2023 47,060
Additions 48,923
Revaluations 11,440
At 30 September 2024 107,423
NET BOOK VALUE
At 30 September 2024 107,423
At 30 September 2023 47,060

Cost or valuation at 30 September 2024 is represented by:

Other
investments
£   
Valuation in 2023 (2,496 )
Valuation in 2024 11,440
Cost 98,479
107,423

CHINATECH SOURCING LIMITED (REGISTERED NUMBER: 05898428)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 68,440 143,195
Other debtors 6,070 20,590
74,510 163,785

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,087 6,736
Taxation and social security 36,847 67,433
Other creditors 39,134 27,027
82,068 101,196

9. RELATED PARTY DISCLOSURES

Included within creditors due within one year is an amount due to the director, M Statham of £881 (2023: £319). The loans are interest free and have no fixed date for repayment.

M Statham is also a director of Bullfix Limited.

During the year the company made sales of £7,160 (2023: £49,777) to Bullfix Limited. At the year end trade debtors included £56,476 (2023: £57,098) owed to the company by Bullfix Limited.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Q Statham.