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Registered number: 09816660
Grace Han (Uk) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Rodliffe Accounting Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09816660
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 25,303 203,258
25,303 203,258
CURRENT ASSETS
Stocks 5 374,478 293,174
Debtors 6 5,821 23,023
Investments 7 3,220 740
Cash at bank and in hand 31,211 81,760
414,730 398,697
Creditors: Amounts Falling Due Within One Year 8 (7,554,100 ) (7,309,093 )
NET CURRENT ASSETS (LIABILITIES) (7,139,370 ) (6,910,396 )
TOTAL ASSETS LESS CURRENT LIABILITIES (7,114,067 ) (6,707,138 )
NET LIABILITIES (7,114,067 ) (6,707,138 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (7,114,068 ) (6,707,139 )
SHAREHOLDERS' FUNDS (7,114,067) (6,707,138)
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Grace Wong
Director
01/07/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Grace Han (Uk) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09816660 . The registered office is 13 Beauchamp Place, London, United Kingdom, SW3 1NQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Straighline
Computer Equipment Straighline
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 2)
4 2
4. Tangible Assets
Land & Property
Leasehold Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 2,808,028 12,017 2,820,045
Additions - 666 666
As at 31 December 2024 2,808,028 12,683 2,820,711
...CONTINUED
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Page 4
Depreciation
As at 1 January 2024 2,606,840 9,947 2,616,787
Provided during the period 177,936 685 178,621
As at 31 December 2024 2,784,776 10,632 2,795,408
Net Book Value
As at 31 December 2024 23,252 2,051 25,303
As at 1 January 2024 201,188 2,070 203,258
5. Stocks
2024 2023
£ £
Stock 374,478 293,174
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 4,460 5,740
Other debtors 101 101
VAT 1,260 16,994
Net wages - 188
5,821 23,023
7. Current Asset Investments
2024 2023
£ £
Short term deposits 3,220 740
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 56,139 211,613
Other taxes and social security 5,622 2,863
Other creditors - 329
Accruals and deferred income - 1,950
Director's loan account 7,492,339 7,092,338
7,554,100 7,309,093
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4