Company No:
Contents
| DIRECTORS | A T B Abdullah |
| D C M Huat | |
| M A Razak | |
| R S M Southwell |
| REGISTERED OFFICE | 264 Banbury Road |
| Oxford | |
| OX2 7DY | |
| United Kingdom |
| COMPANY NUMBER | 10599430 (England and Wales) |
| ACCOUNTANT | Shaw Gibbs Limited |
| 264 Banbury Road | |
| Oxford | |
| OX2 7DY | |
| United Kingdom |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 4 |
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| 1,330,005 | 1,330,005 | |||
| Current assets | ||||
| Debtors | 5 |
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| 565,641 | 565,221 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current assets | 529,790 | 532,190 | ||
| Total assets less current liabilities | 1,859,795 | 1,862,195 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Share premium account |
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| Profit and loss account | (
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Zheng Group Limited (registered number:
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A T B Abdullah
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Zheng Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 264 Banbury Road, Oxford, OX2 7DY, United Kingdom.
The principal activities are set out in the Directors’ Report.
The financial statements have been prepared under the historical cost convention, and in accordance with Financial Reporting Standard 102 (FRS 102) applicable in the UK and Republic of Ireland issued by the Financial Reporting Council and the requirements of the Companies Act 2006.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
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| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Subsidiary undertakings |
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| £ | £ | ||
| Amounts owed by own subsidiaries |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Amounts owed to own subsidiaries |
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| Accruals |
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During the period under review the company transacted with its subsidiary undertakings.
Zheng Chelsea Limited (ZC) settled business expenses on behalf of Zheng Group Limited (ZG) totalling £2,640 (2023 - £300). An advance was made by ZG to YL totalling £420 (2023 - 390). At the balance sheet date ZG owes ZC £31,281 (2023: £28,641). This is included in other creditors due within one year.
No transactions took place between Yangtze Limited (YL) and Zheng Group Limited (ZG) in the previous two years and at the balance sheet date YL owes ZG £565,640 (2023: £565,220). This is included within debtors due within one year.