4 4 Sam & Ping Trading Ltd 08214100 false 2023-10-01 2024-08-31 2024-08-31 The principal activity of the company is sale of specialised foods Digita Accounts Production Advanced 6.30.9574.0 true 08214100 2023-10-01 2024-08-31 08214100 2024-08-31 08214100 core:CurrentFinancialInstruments 2024-08-31 08214100 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 08214100 core:Non-currentFinancialInstruments 2024-08-31 08214100 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 08214100 core:FurnitureFittings 2024-08-31 08214100 core:MotorVehicles 2024-08-31 08214100 core:OfficeEquipment 2024-08-31 08214100 bus:SmallEntities 2023-10-01 2024-08-31 08214100 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-08-31 08214100 bus:FilletedAccounts 2023-10-01 2024-08-31 08214100 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-08-31 08214100 bus:RegisteredOffice 2023-10-01 2024-08-31 08214100 bus:Director1 2023-10-01 2024-08-31 08214100 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-08-31 08214100 bus:Agent1 2023-10-01 2024-08-31 08214100 core:FurnitureFittings 2023-10-01 2024-08-31 08214100 core:MotorVehicles 2023-10-01 2024-08-31 08214100 core:OfficeEquipment 2023-10-01 2024-08-31 08214100 countries:EnglandWales 2023-10-01 2024-08-31 08214100 2023-09-30 08214100 core:FurnitureFittings 2023-09-30 08214100 core:MotorVehicles 2023-09-30 08214100 core:OfficeEquipment 2023-09-30 08214100 2022-10-01 2023-09-30 08214100 2023-09-30 08214100 core:CurrentFinancialInstruments 2023-09-30 08214100 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 08214100 core:Non-currentFinancialInstruments 2023-09-30 08214100 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 08214100 core:FurnitureFittings 2023-09-30 08214100 core:MotorVehicles 2023-09-30 08214100 core:OfficeEquipment 2023-09-30 xbrli:pure iso4217:GBP

Registration number: 08214100

Sam & Ping Trading Ltd

Unaudited Filleted Financial Statements

for the Period from 1 October 2023 to 31 August 2024

 

Sam & Ping Trading Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Sam & Ping Trading Ltd

Company Information

Director

Shu Woei Kok

Registered office

5 Ducketts Wharf
South Street
Bishop's Stortford
Hertfordshire
CM23 3AR

Accountants

Mansell & Co
Chartered Certified Accountants5 Ducketts Wharf
South Street
Bishop Stortford
Hertfordshire
CM23 3AR

 

Sam & Ping Trading Ltd

(Registration number: 08214100)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,694

14,379

Current assets

 

Stocks

5

19,500

11,800

Debtors

6

2,687

36,332

Cash at bank and in hand

 

63,273

76,601

 

85,460

124,733

Creditors: Amounts falling due within one year

7

(70,545)

(120,501)

Net current assets

 

14,915

4,232

Total assets less current liabilities

 

25,609

18,611

Creditors: Amounts falling due after more than one year

7

(25,358)

(18,333)

Net assets

 

251

278

Capital and reserves

 

Called up share capital

100

100

Retained earnings

151

178

Shareholders' funds

 

251

278

For the financial period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 June 2025
 

.........................................
Shu Woei Kok
Director

 

Sam & Ping Trading Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5 Ducketts Wharf
South Street
Bishop's Stortford
Hertfordshire
CM23 3AR
England

These financial statements were authorised for issue by the director on 2 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Sam & Ping Trading Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

3 years' straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Sam & Ping Trading Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 August 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 4 (2023 - 4).

 

Sam & Ping Trading Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 August 2024

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

14,472

1,265

26,783

42,520

At 31 August 2024

14,472

1,265

26,783

42,520

Depreciation

At 1 October 2023

11,922

1,143

15,076

28,141

Charge for the period

637

122

2,926

3,685

At 31 August 2024

12,559

1,265

18,002

31,826

Carrying amount

At 31 August 2024

1,913

-

8,781

10,694

At 30 September 2023

2,550

122

11,707

14,379

5

Stocks

2024
£

2023
£

Other inventories

19,500

11,800

6

Debtors

Current

2024
£

2023
£

Other debtors

2,687

36,332

 

2,687

36,332

 

Sam & Ping Trading Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

12,857

70,978

Trade creditors

 

24,510

42,917

Taxation and social security

 

5,907

4,458

Accruals and deferred income

 

23,000

2,000

Other creditors

 

4,271

148

 

70,545

120,501

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

25,358

18,333

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

25,358

18,333

Current loans and borrowings

2024
£

2023
£

Bank borrowings

12,857

10,000

Other borrowings

-

60,978

12,857

70,978