Song & Kong Real Estate (Uk) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12257101 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 11 OCTOBER 2019 TO 31 OCTOBER 2020

FOR

SONG & KONG REAL ESTATE (UK) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Q Kong

X Song

Dr A Song

REGISTERED OFFICE:

904 Hadrians Tower

Rutherford Street

Newcastle upon Tyne

Tyne and Wear

NE4 5BJ

REGISTERED NUMBER:

12257101 (England and Wales)

ACCOUNTANTS:

Robson Laidler Accountants Limited

Fernwood House

Fernwood Road

Jesmond

Newcastle upon Tyne

NE2 1TJ

FIXED ASSETS

Investment property

4

8,049,050

CURRENT ASSETS

Debtors

5

234,168

Cash at bank

3,356

237,524

CREDITORS

Amounts falling due within one year

6

8,073,563

NET CURRENT LIABILITIES

(7,836,039

)

TOTAL ASSETS LESS CURRENT LIABILITIES

213,011

CAPITAL AND RESERVES

Called up share capital

5,000

Retained earnings

208,011

213,011

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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 9 July 2021 and were signed on its behalf by:

Dr A Song - Director

1.	STATUTORY INFORMATION

Song & Kong Real Estate (Uk) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Rounding is to the nearest whole Pound.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

8,049,050

At 31 October 2020

8,049,050

NET BOOK VALUE

At 31 October 2020

8,049,050

Included in fair value of investment property is freehold land of £ 8,049,050 which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

207,283

Other debtors

21,504

Directors' current accounts

540

Prepayments and accrued income

4,841

234,168

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

40

Amounts owed to group undertakings

7,873,007

Corporation tax

48,793

VAT

35,234

Other creditors

20,000

Accruals and deferred income

96,489

8,073,563

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 October 2020:

£

Dr A Song

Balance outstanding at start of period

-

Amounts advanced

540

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

540

No interest has been applied on the above loan.