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REGISTERED NUMBER: 03419214 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

The Korean Red Ginseng Company Limited

The Korean Red Ginseng Company Limited (Registered number: 03419214)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Korean Red Ginseng Company Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: D J Andrews
K Hur





REGISTERED OFFICE: 18 Fitzhardinge Street
London
W1H 6EQ





REGISTERED NUMBER: 03419214 (England and Wales)





ACCOUNTANTS: Dave & Co
Chartered Accountants
Manchester Square
18 Fitzhardinge Street
London
W1H 6EQ

The Korean Red Ginseng Company Limited (Registered number: 03419214)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,954 3,460

CURRENT ASSETS
Stocks 12,671 11,459
Debtors 5 25,477 16,106
Cash at bank - 550
38,148 28,115
CREDITORS
Amounts falling due within one year 6 35,171 26,620
NET CURRENT ASSETS 2,977 1,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,931

4,955

CREDITORS
Amounts falling due after more than
one year

7

9,938

14,942
NET LIABILITIES (4,007 ) (9,987 )

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 (5,007 ) (10,987 )
SHAREHOLDERS' FUNDS (4,007 ) (9,987 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

The Korean Red Ginseng Company Limited (Registered number: 03419214)

Balance Sheet - continued
31 December 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 23 June 2025 and were signed on its behalf by:





K Hur - Director


The Korean Red Ginseng Company Limited (Registered number: 03419214)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

The Korean Red Ginseng Company 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.

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

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 - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% 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.

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.

The Korean Red Ginseng Company Limited (Registered number: 03419214)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 6,838 33,189 26,800 13,594 80,421
Additions 516 - - - 516
At 31 December 2024 7,354 33,189 26,800 13,594 80,937
DEPRECIATION
At 1 January 2024 5,437 32,807 26,800 11,917 76,961
Charge for year 585 - - 437 1,022
At 31 December 2024 6,022 32,807 26,800 12,354 77,983
NET BOOK VALUE
At 31 December 2024 1,332 382 - 1,240 2,954
At 31 December 2023 1,401 382 - 1,677 3,460

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 20,727 16,106
Other debtors 4,750 -
25,477 16,106

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 4,671 -
Trade creditors 21,869 15,269
Taxation and social security 1,559 -
Other creditors 7,072 11,351
35,171 26,620

The Korean Red Ginseng Company Limited (Registered number: 03419214)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Other creditors 9,938 14,942

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
1,000 Ordinary 1 1,000 1,000

9. RESERVES
Retained
earnings
£   

At 1 January 2024 (10,987 )
Profit for the year 5,980
At 31 December 2024 (5,007 )