| Lucky Five Star (UK) Limited |
| Registered number: |
09210613 |
| Balance Sheet |
| as at 30 June 2020 |
|
| Notes |
|
|
2020 |
|
|
2019 |
| £ |
£ |
| Fixed assets |
| Investment properties |
3 |
|
|
596,572 |
|
|
596,572 |
|
| Current assets |
| Cash at bank and in hand |
|
|
49,555 |
|
|
3,374 |
|
| Creditors: amounts falling due within one year |
4 |
|
(754,948) |
|
|
(681,148) |
|
| Net current liabilities |
|
|
|
(705,393) |
|
|
(677,774) |
|
| Net liabilities |
|
|
|
(108,821) |
|
|
(81,202) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
(108,921) |
|
|
(81,302) |
|
| Shareholders' funds |
|
|
|
(108,821) |
|
|
(81,202) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr Min Chen |
| Director |
| Approved by the board on 30 June 2021 |
|
| Lucky Five Star (UK) Limited |
| Notes to the Accounts |
| for the period from 1 October 2019 to 30 June 2020 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
|
Investments properties |
|
Investment properties are carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided, changes in fair value are recognised in the profit and loss acconts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investment properties |
|
| Total |
|
| £ |
|
Cost |
|
At 1 October 2019 |
596,572 |
|
|
At 30 June 2020 |
596,572 |
|
|
The freehold investment properties held at 30 June 2020 are stated at directors' |
|
assessment of fair value on the basis of open market value given a willing buyer and willing |
|
seller. |
|
|
| 4 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Bank loans and overdrafts |
50,000 |
|
- |
|
Directors' loan |
|
702,260 |
|
678,460 |
|
Other creditors |
2,688 |
|
2,688 |
|
|
|
|
|
|
754,948 |
|
681,148 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Other information |
|
|
Lucky Five Star (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
4 Sandeman Gardens |
|
Ware |
|
England |
|
SG12 7WN |
|
| 6 |
Ultimate controlling parties |
|
|
The company is controlled by the directors by virtue of their 25% shareholding each in the |
|
issued share capital of the company. |
