COMPANY REGISTRATION NUMBER:
04186311
|
Filleted Financial Statements |
|
|
Statement of Financial Position |
|
31 March 2025
Current assets
|
Cash at bank and in hand |
3,161 |
|
1,152 |
|
|
|
|
|
Creditors: amounts falling due within one year |
4 |
(
3,397,310) |
|
(
3,387,523) |
|
------------ |
|
------------ |
|
Net current liabilities |
|
(
3,394,149) |
(
3,386,371) |
|
|
------------ |
------------ |
|
Total assets less current liabilities |
|
(
3,394,149) |
(
3,386,371) |
|
|
------------ |
------------ |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
100 |
100 |
|
Profit and loss account |
|
(
3,394,249) |
(
3,386,471) |
|
|
------------ |
------------ |
|
Shareholder deficit |
|
(
3,394,149) |
(
3,386,371) |
|
|
------------ |
------------ |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
15 December 2025
, and are signed on behalf of the board by:
|
Mr Wai Ming Chung |
|
Director |
|
Company registration number:
04186311
|
Notes to the Financial Statements |
|
Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Basement, 1 Savile Row, London, W1S 3JR, United Kingdom.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Parent company continues to review the strategic trading purpose of the Company and will provide operational and financial support to the Company until such a trading purpose is decided. These financial statements have therefore been prepared on the going concern basis as a result of the Parent company commitment as it will enable the Company to meet its day to day obligations as and when they fall due. This commitment is expected to extend for a period of not less than one year from the date of of approval of these financial statements.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
3,387,985 |
3,382,619 |
|
Other creditors |
9,325 |
4,904 |
|
------------ |
------------ |
|
3,397,310 |
3,387,523 |
|
------------ |
------------ |
|
|
|
5.
Summary audit opinion
The auditor's report dated
17 December 2025
was
unqualified
.
The senior statutory auditor was
Mark Richardson
, for and on behalf of
Moore Kingston Smith LLP
.
6.
Related party transactions
Throughout the year the company remained indebted to its parent company, Wing Tai Properties Limited, in respect of an interest free loan. The loan value at the balance sheet date was £3,387,985 (2024: £3,382,619). There are no formal repayment terms attached to the debt and as such it is considered repayable on demand and reported as a short term liability.
No other transactions with related parties were noted for disclosure under the requirements of FRS 102 Section 1A.
7.
Controlling party
The ultimate holding company is
Wing Tai Properties Limited
which is incorporated in Bermuda. Copies of the group financial statements of Wing Tai Properties Limited are available at 27/F, AIA Kowloon Tower, Landmark East, 100 How Ming Street, Kwun Tong, Kowloon, Hong Kong.