

	Company registration number:	9764078






PING LEE LIMITED

REPORT OF THE DIRECTORS' AND

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 March 2026



PING LEE LIMITED

BALANCE SHEET

AS AT 31 March 2026


		2026		2024
	Notes	£	£	£	£

FIXED ASSETS
Intangible assets	3		0		4,800
Tangible assets	4		0		534

			0		5,334

CURRENT ASSETS
Stocks		0		1,326
Debtors		983		1,433
Cash at bank and in hand		9,051		26,752

		10,034		29,511

CREDITORS
Amounts falling due within one year		(59,972)		(46,856)

NET CURRENT ASSETS			(49,938)		(17,345)

TOTAL ASSETS LESS
CURRENT LIABILITIES			(49,938)		(12,011)


PROVISIONS FOR LIABILITIES			(0)		(134)

NET ASSETS			(49,938)		(12,145)



CAPITAL AND RESERVES
Called-up equity share capital			100		100
Profit and loss account			(50,038)		(12,245)

SHAREHOLDERS FUNDS			(49,938)		(12,145)


For the period ending 31 March 2026 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.


All the members have consented to the preparation of abridged financial statements for the period ended 31 March 2026 in accordance with Section 444(2A) of the Companies Act 2006.


The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.


These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 21 July 2026 and signed on its behalf.



..........................................................................
K P Lee

21 July 2026
The annexed notes form part of these financial statements.

PING LEE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2026

Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Turnover

Turnover comprises the value of goods and services supplied by the company, net of Value Added Tax.

Intangible Assets

Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over a period of ten years, which is the period over which the directors consider its useful life can be predicted.

Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures and Fittings - 20% reducing balance basis.

Stocks and Work In Progress

Stocks are valued at the lower of cost and net realisable value.

Deferred Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date.

GOING CONCERN

The company ceased trading on 1 February 2026 and therefore, the going concern basis has not been adopted in compiling these financial statements.

Employees

The average number of persons employed by the company (including directors) during the year was 3.



3.	Intangible fixed assets
		Total

	Cost
	At start of period	48,000
	At end of period	48,000

	Amortisation
	At start of period	43,200
	Provided during the period	4,800
	At end of period	48,000

	Net Book Values
	At start of period	4,800
	At end of period	0



4.	Tangible fixed assets

		Total

	Cost
	At start of period	2,899
	Disposals	(2,899)
	At end of period	0

	Depreciation
	At start of period	2,365
	Provided during the period	107
	On disposals	(2,472)
	At end of period	0

	Net Book Value
	At start of period	534
	At end of period	0

Related Party Transactions

The directors have maintained a joint interest-free loan to the company. The balance outstanding at balance sheet date was £58,559 (2024: £41,317). The company occupied business premises which were held under a lease between the directors and an unconnected third party. The company agreed to meet the annual rent of £17,100 and all property obligations under the lease whilst it was the occupier of the premises. This obligation ceased on cessation of trade on 1 February 2026.