Company Registration No. 10340416 (England and Wales)
Good Morning Saigon Ltd
Unaudited accounts
for the year ended 31 August 2025
Good Morning Saigon Ltd
Unaudited accounts
Contents
Good Morning Saigon Ltd
Company Information
for the year ended 31 August 2025
Company Number
10340416 (England and Wales)
Registered Office
4th Floor Office
205 Regent Street
London
W1B 4HB
England
Accountants
Sleek Accounting Ltd
4th Floor
205 Regent Street
London
W1B 4HB
Good Morning Saigon Ltd
Statement of financial position
as at 31 August 2025
Tangible assets
4,458
6,808
Cash at bank and in hand
31,658
204,669
Creditors: amounts falling due within one year
(34,529)
(47,901)
Net current assets
220,361
204,359
Total assets less current liabilities
224,819
211,167
Creditors: amounts falling due after more than one year
-
(6,815)
Provisions for liabilities
Deferred tax
(1,702)
(1,702)
Net assets
223,117
202,650
Called up share capital
1
1
Profit and loss account
223,116
202,649
Shareholders' funds
223,117
202,650
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 December 2025 and were signed on its behalf by
Linh Hoai Le Thi
Director
Company Registration No. 10340416
Good Morning Saigon Ltd
Notes to the Accounts
for the year ended 31 August 2025
Good Morning Saigon Ltd is a private company, limited by shares, registered in England and Wales, registration number 10340416. The registered office is 4th Floor Office, 205 Regent Street, London, W1B 4HB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% straight line
Plant & machinery
20% straight line
Fixtures & fittings
20% straight line
Computer equipment
33% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Good Morning Saigon Ltd
Notes to the Accounts
for the year ended 31 August 2025
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Despite the company's negative reserves at the balance sheet date and after considering the future projections of the company, the director is confident that the business has adequate resources to continue to trade for the foreseeable future. The company continues to receive support from it's primary funders, including the director. As such, these financial statements have been prepared on a going concern basis.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2024
95,241
14,824
59,336
8,866
178,267
At 31 August 2025
95,241
14,824
59,336
8,866
178,267
At 1 September 2024
95,241
10,151
59,336
6,731
171,459
Charge for the year
-
1,422
-
928
2,350
At 31 August 2025
95,241
11,573
59,336
7,659
173,809
At 31 August 2025
-
3,251
-
1,207
4,458
At 31 August 2024
-
4,673
-
2,135
6,808
Amounts falling due within one year
Accrued income and prepayments
3,302
3,135
Other debtors
94,572
5,388
Amounts falling due after more than one year
Good Morning Saigon Ltd
Notes to the Accounts
for the year ended 31 August 2025
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
7,119
9,584
Trade creditors
4,912
13,387
Taxes and social security
6,303
12,026
7
Creditors: amounts falling due after more than one year
2025
2024
8
Operating lease commitments
2025
2024
At 31 August 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
36,500
Later than one year and not later than five years
-
121,666
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
5,388
234,475
240,290
(427)
5,388
234,475
240,290
(427)
The overdrawn directors loan account will be repaid in full within 9 months of the year end.
10
Transactions with related parties
Loan to MCP Projects Ltd
During the year, the company advanced funds totalling £100,000 to MCP Projects Ltd, a company under the control of the directors. MCP Projects Ltd is a related party by virtue of common directorship and ownership.
The loan is unsecured, and is repayable on demand. The balance outstanding at the year end was £100,000 (2024: £nil ).
No amounts were written off or waived during the year.
11
Average number of employees
During the year the average number of employees was 11 (2024: 11).