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Company Registration No. 10812535 (England and Wales)
Seewoo Chinatown Limited Unaudited accounts for the year ended 31 March 2025
Seewoo Chinatown Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Seewoo Chinatown Limited Company Information for the year ended 31 March 2025
Director
Ms Y Li
Company Number
10812535 (England and Wales)
Registered Office
18-21 Lisle Street London London WC2H 7BA England
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Seewoo Chinatown Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
246,642
72,593
Current assets
Inventories
128,800
190,795
Debtors
5
581,342
604,122
Cash at bank and in hand
51,507
10,496
761,649
805,413
Creditors: amounts falling due within one year
6
(1,115,931)
(690,428)
Net current (liabilities)/assets
(354,282)
114,985
Net (liabilities)/assets
(107,640)
187,578
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
(108,640)
186,578
Shareholders' funds
(107,640)
187,578
For the year ending 31 March 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 his 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 13 July 2026 and were signed on its behalf by
Ms Y Li Director Company Registration No. 10812535
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Seewoo Chinatown Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Seewoo Chinatown Limited is a private company, limited by shares, registered in England and Wales, registration number 10812535. The registered office is 18-21 Lisle Street, London, London, WC2H 7BA, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. Revenue from the sale of goods is recognised when the goods are physically delivered to or collected by the customer.
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
Over the term of the lease
Plant & machinery
8 years straight line
Motor vehicles
4 years straight line
Fixtures & fittings
8 years straight line
Computer equipment
5 years straight line
Inventories
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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Seewoo Chinatown Limited Notes to the Accounts for the year ended 31 March 2025
Pension costs
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.
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed. Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 April 2024
317,445
118,424
-
435,869
Additions
143,703
12,900
45,583
202,186
At 31 March 2025
461,148
131,324
45,583
638,055
Depreciation
At 1 April 2024
284,101
79,175
-
363,276
Charge for the year
16,293
10,175
1,669
28,137
At 31 March 2025
300,394
89,350
1,669
391,413
Net book value
At 31 March 2025
160,754
41,974
43,914
246,642
At 31 March 2024
33,344
39,249
-
72,593
5
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
96,962
84,708
Trade debtors
63,272
182,738
Other debtors
421,108
336,676
581,342
604,122
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
-
25,111
Trade creditors
658,739
417,594
Taxes and social security
132,376
49,602
Other creditors
324,816
198,121
1,115,931
690,428
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Seewoo Chinatown Limited Notes to the Accounts for the year ended 31 March 2025
7
Operating lease commitments
2025
2024
£
£
At 31 March 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
720,000
720,000
Later than one year and not later than five years
1,920,000
2,640,000
2,640,000
3,360,000
8
Transactions with related parties
The company has taken exemptions under FRS102 paragraph 33.1A not to disclose transactions between fellow wholly owned subsidiaries.
9
Controlling party
In the year, the parent undertaking is SK Global Holding Limited, a company registered in England and Wales, no party has controlling interest in the company in the year. However, Yueting Li started having controlling interest in the company since April 2025 after year end.
10
Average number of employees
During the year the average number of employees was 28 (2024: 30).
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