Wing Fung Dundee Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC347576 (Scotland)

Wing Fung Dundee Limited

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr Z H Chen

SECRETARY:

Mr Z H Chen

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

EH3 6AT

REGISTERED NUMBER:

SC347576 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

EH3 6AT

BANKERS:

The Royal Bank of Scotland plc

3 High Street

Dundee

DD1 9LY

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

659

413

659

413

CURRENT ASSETS

Stocks

22,594

22,773

Debtors

3,712

4,565

Cash at bank and in hand

12,384

14,374

38,690

41,712

CREDITORS

Amounts falling due within one year

24,572

41,832

NET CURRENT ASSETS/(LIABILITIES)

14,118

(120

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,777

293

PROVISIONS FOR LIABILITIES

132

83

NET ASSETS

14,645

210

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

14,644

209

SHAREHOLDERS' FUNDS

14,645

210

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 6 February 2015 and were signed by:

Mr Z H Chen - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover and revenue recognition

Turnover, which represents net invoiced sales of goods exclusive of VAT, is recognised at the point

when the goods are delivered to the customer.

Goodwill

Goodwill, being the amount in connection with the acquisition of a business in 2008, has been

amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment & fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date where transactions or events have occurred at that date that will result in

an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are

recognised only to the extent that the directors consider that it is more likely than not that there

will be suitable taxable profits from which the future reversal of the underlying timing differences

can be deducted. Deferred tax is measured on an undiscounted basis at the rates that are expected

to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or

substantively enacted at the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

and 30 September 2014

6,800

AMORTISATION

At 1 October 2013

and 30 September 2014

6,800

NET BOOK VALUE

At 30 September 2014

-

At 30 September 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

15,480

Additions

881

At 30 September 2014

16,361

DEPRECIATION

At 1 October 2013

15,067

Charge for year

635

At 30 September 2014

15,702

NET BOOK VALUE

At 30 September 2014

659

At 30 September 2013

413

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary

£1

1

1