Registered number
10379244
Xin Constructions Limited
Unaudited Filleted Accounts
30 September 2024
Xin Constructions Limited
Registered number: 10379244
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 466,170 397,652
Current assets
Stocks 2,000 2,000
Debtors 4 10,154 8,822
Cash at bank and in hand 69,844 18,879
81,998 29,701
Creditors: amounts falling due within one year 5 (179,157) (188,792)
Net current liabilities (97,159) (159,091)
Total assets less current liabilities 369,011 238,561
Creditors: amounts falling due after more than one year 6 (7,568) (16,649)
Net assets 361,443 221,912
Capital and reserves
Called up share capital 1 1
Profit and loss account 361,442 221,911
Shareholder's funds 361,443 221,912
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Ms Fuyu Lin
Director
Approved by the board on 23 May 2025
Xin Constructions Limited
Notes to the Accounts
for the year ended 30 September 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 rendering of services which is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Also includes revenue earned from the letting of own properties.
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:
Freehold buildings over 50 years
Motor vehicles 25% reducing balance
Plant and machinery 20% reducing balance
Investment properties
Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in profit or loss.
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.
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 6 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 363,119 379 69,182 432,680
Additions 77,136 - - 77,136
At 30 September 2024 440,255 379 69,182 509,816
Depreciation
At 1 October 2023 - 89 34,939 35,028
Charge for the year - 58 8,560 8,618
At 30 September 2024 - 147 43,499 43,646
Net book value
At 30 September 2024 440,255 232 25,683 466,170
At 30 September 2023 363,119 290 34,243 397,652
4 Debtors 2024 2023
£ £
Trade debtors 660 -
Other debtors 9,494 8,822
10,154 8,822
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 9,081 9,081
Taxation and social security costs 127,202 58,100
Other creditors 42,874 121,611
179,157 188,792
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 7,568 16,649
7 Other information
Xin Constructions Limited is a private company limited by shares and incorporated in England. Its registered office is:
1st Floor, 267 High Road
Leyton
London
E10 5QN
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