Registered number
06598049
Wing Tai Restaurant Ltd
Filleted Accounts
31 May 2024
Wing Tai Restaurant Ltd
Registered number: 06598049
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 184,486 147,833
Current assets
Stocks 15,000 15,000
Debtors 4 897,496 106,374
Cash at bank and in hand 1,128,029 1,563,133
2,040,525 1,684,507
Creditors: amounts falling due within one year 5 (370,694) (369,149)
Net current assets 1,669,831 1,315,358
Total assets less current liabilities 1,854,317 1,463,191
Provisions for liabilities (26,670) (16,106)
Net assets 1,827,647 1,447,085
Capital and reserves
Called up share capital 6 6
Capital redemption reserve 4 4
Profit and loss account 1,827,637 1,447,075
Shareholders' funds 1,827,647 1,447,085
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.
A Cheng
Director
Approved by the board on 29 May 2025
Wing Tai Restaurant Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
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:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 25% straight line
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 44 34
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 156,861 502,940 35,153 694,954
Additions - 7,203 62,992 70,195
At 31 May 2024 156,861 510,143 98,145 765,149
Depreciation
At 1 June 2023 84,033 462,356 732 547,121
Charge for the year 5,602 10,148 17,792 33,542
At 31 May 2024 89,635 472,504 18,524 580,663
Net book value
At 31 May 2024 67,226 37,639 79,621 184,486
At 31 May 2023 72,828 40,584 34,421 147,833
4 Debtors 2024 2023
£ £
Trade debtors 13,214 10,956
Amounts owed by group undertakings and undertakings in which the company has a participating interest 738,598 -
Other debtors 145,684 95,418
897,496 106,374
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 118,782 157,051
Taxation and social security costs 199,673 188,105
Other creditors 52,239 23,993
370,694 369,149
6 Other information
Wing Tai Restaurant Ltd is a private company limited by shares and incorporated in England. Its registered office is:
CNG Associates
915 High Road
London
N12 8QJ
Wing Tai Restaurant Ltd 06598049 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts April 2025 A Cheng No description of principal activity 06598049 2022-06-01 2023-05-31 06598049 core:WithinOneYear 2023-05-31 06598049 core:ShareCapital 2023-05-31 06598049 core:RetainedEarningsAccumulatedLosses 2023-05-31 06598049 2023-06-01 2024-05-31 06598049 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06598049 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 06598049 bus:Director40 2023-06-01 2024-05-31 06598049 1 2023-06-01 2024-05-31 06598049 2 2023-06-01 2024-05-31 06598049 core:LandBuildings 2023-06-01 2024-05-31 06598049 core:PlantMachinery 2023-06-01 2024-05-31 06598049 core:Vehicles 2023-06-01 2024-05-31 06598049 countries:England 2023-06-01 2024-05-31 06598049 bus:FRS102 2023-06-01 2024-05-31 06598049 bus:FilletedAccounts 2023-06-01 2024-05-31 06598049 2024-05-31 06598049 core:WithinOneYear 2024-05-31 06598049 core:ShareCapital 2024-05-31 06598049 core:RetainedEarningsAccumulatedLosses 2024-05-31 06598049 core:LandBuildings 2024-05-31 06598049 core:PlantMachinery 2024-05-31 06598049 core:Vehicles 2024-05-31 06598049 2023-05-31 06598049 core:LandBuildings 2023-05-31 06598049 core:PlantMachinery 2023-05-31 06598049 core:Vehicles 2023-05-31 iso4217:GBP xbrli:pure