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Company Registration No. 14884726 (England and Wales)
Fung Tai Engineering Company Ltd Limited Unaudited accounts for the year ended 31 October 2025
Fung Tai Engineering Company Ltd Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Fung Tai Engineering Company Ltd Limited Company Information for the year ended 31 October 2025
Director
Kingsley Chukwu
Company Number
14884726 (England and Wales)
Registered Office
C E M E Ltd C E M E Innovation Centre Marsh Way Rainham Essex RM13 8EU England
Accountants
Tax & Accounting Consultants Limited 27 Penzance Road Harold Hill Romford Essex RM3 9NR
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Fung Tai Engineering Company Ltd Limited Statement of financial position as at 31 October 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
16,062,750 
15,596,730 
Current assets
Debtors
6
1,950,000 
- 
Creditors: amounts falling due within one year
7
(18,294,652)
(15,886,106)
Net current liabilities
(16,344,652)
(15,886,106)
Net liabilities
(281,902)
(289,376)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(281,903)
(289,377)
Shareholders' funds
(281,902)
(289,376)
For the year ending 31 October 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 31 August 2026 and were signed on its behalf by
Kingsley Chukwu Director Company Registration No. 14884726
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Fung Tai Engineering Company Ltd Limited Notes to the Accounts for the year ended 31 October 2025
1
Statutory information
Fung Tai Engineering Company Ltd Limited is a private company, limited by shares, registered in England and Wales, registration number 14884726. The registered office is C E M E Ltd, C E M E Innovation Centre, Marsh Way, Rainham, Essex, RM13 8EU, England.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies’ regime and Financial Reporting Standard 102, Section 1A, Small Entities.
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 financial statements have been prepared under the historical cost convention, except for investment properties, which are measured at fair value in accordance with FRS 102. Investment properties are properties held to earn rental income, for capital appreciation or both. They are initially recognised at cost, including directly attributable acquisition costs, and subsequently measured at fair value at each reporting date. Changes in fair value are recognised in the profit and loss account. Investment properties measured at fair value are not depreciated. The company obtains an independent professional valuation of its investment properties at least once every three years. In the intervening years, the directors assess fair value using available market evidence, including comparable property transactions, rental yields, property condition and prevailing market conditions. Where there is evidence of a material change in value, an updated independent valuation is obtained.
Presentation currency
The accounts are presented in £ sterling.
Prior-year restatement
The comparative financial statements have been restated to correct the accounting treatment of legal and professional costs incurred directly in connection with the acquisition of the company’s investment properties. In the year ended 31 October 2024, costs of £1,665,910 were incorrectly charged to the profit and loss account. In accordance with FRS 102, these directly attributable acquisition costs should have been included in the initial cost of the related investment properties. Accordingly, the comparative figures have been restated by increasing the gross cost of investment properties by £1,665,910 and reducing the corresponding legal and professional expenses by the same amount. Consequently, the loss for the year ended 31 October 2024 has been reduced, and retained earnings increased, by £1,665,910 before any related taxation or fair-value adjustments. This correction has been applied retrospectively to ensure consistent application of the company’s accounting policy. Investment properties are subsequently measured at fair value, with changes in fair value recognised in the profit and loss account.
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Fung Tai Engineering Company Ltd Limited Notes to the Accounts for the year ended 31 October 2025
Tangible fixed assets and depreciation
Tangible fixed assets, other than investment properties, are initially measured at cost and subsequently stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is charged on a straight-line basis to write off the cost of each asset, less its estimated residual value, over its estimated useful economic life, as follows: Investment properties are accounted for separately at fair value in accordance with FRS 102 and are not depreciated.
Plant & machinery
20% per annum
Fixtures & fittings
20% per annum
Computer equipment
20% per annum
Other tangible fixed assets
20% per annum
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 November 2024
15,596,730 
Additions
466,020 
At 31 October 2025
16,062,750 
Depreciation
At 31 October 2025
- 
Net book value
At 31 October 2025
16,062,750 
At 31 October 2024
15,596,730 
Investment properties are initially measured at cost, including directly attributable acquisition costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in the profit and loss account. Investment properties carried at fair value are not depreciated. The company obtains an independent professional valuation at least once every three years. In the intervening years, the directors assess fair value using available market evidence. Where there is evidence of a material change in value, an updated independent valuation is obtained.
6
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
1,950,000 
- 
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Fung Tai Engineering Company Ltd Limited Notes to the Accounts for the year ended 31 October 2025
7
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Trade creditors
100,080 
- 
Amounts owed to group undertakings and other participating interests
1,950,000 
- 
Other creditors
16,244,572 
15,885,626 
Deferred income
- 
480 
18,294,652 
15,886,106 
Amounts owed to directors represent funds advanced by the directors to finance the acquisition of investment properties and the associated property operating costs. The balances are unsecured, interest-free and repayable on demand.
8
Transactions with related parties
Amounts due from group undertakings included within debtors represent funding provided to Hermitage 12 Limited, a related group undertaking, for the purchase of a property.
9
Average number of employees
During the year the average number of employees was 0 (2024: 0).
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