Chinacraft Limited - Accounts to registrar (filleted) - small 18.2

CHINACRAFT LIMITED

Financial Statements

for the Year Ended 31 August 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

C Balcombe

A H L North FCA

Secretary:

A H L North FCA

Registered office:

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Registered number:

00300239 (England and Wales)

Accountants:

Haines Watts Chartered Accountants

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

4

-

-

Investments

5

8,513

11,061

8,513

11,061

Current assets

Debtors

6

364,140

195,540

Cash at bank

22,413

135,102

386,553

330,642

Creditors

Amounts falling due within one year

7

362,138

310,242

Net current assets

24,415

20,400

Total assets less current liabilities

32,928

31,461

Capital and reserves

Called up share capital

8

29,050

29,050

Retained earnings

9

3,878

2,411

Shareholders' funds

32,928

31,461

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 May 2021 and were signed on its behalf by:

A H L North FCA - Director

1.	Statutory information

Chinacraft Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Chinacraft Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents amounts receivable for goods provided in the year and is stated net of VAT.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

3.	Employees and directors

The average number of employees during the year was NIL (2019 - NIL).

4.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 September 2019

and 31 August 2020

66,281

Depreciation

At 1 September 2019

and 31 August 2020

66,281

Net book value

At 31 August 2020

-

At 31 August 2019

-

5.	Fixed asset investments

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Cost

At 1 September 2019

and 31 August 2020

5

17,432

17,437

Provisions

At 1 September 2019

-

6,376

6,376

Provision for year

-

2,548

2,548

At 31 August 2020

-

8,924

8,924

Net book value

At 31 August 2020

5

8,508

8,513

At 31 August 2019

5

11,056

11,061

6.

Debtors: amounts falling due within one year

2020

2019

£

£

Trade debtors

176,524

36,029

Other debtors

13,705

17,727

Prepayments and accrued income

173,911

141,784

364,140

195,540

7.

Creditors: amounts falling due within one year

2020

2019

£

£

Trade creditors

64,716

23,275

Amounts owed to group undertakings

284,834

284,834

VAT

1,669

493

Other creditors

1,238

-

Accruals and deferred income

9,681

1,640

362,138

310,242

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

2,905,000

Ordinary

1p

29,050

29,050

9.

Reserves

Retained

earnings

£

At 1 September 2019

2,411

Profit for the year

1,467

At 31 August 2020

3,878

10.	Ultimate controlling party

The ultimate parent company is Chinacraft (Holdings) Limited.