| KH Oriental Group Limited |
| Registered number: |
09827435 |
| Balance Sheet |
| as at 31 March 2023 |
|
| Notes |
|
|
2023 |
|
|
2022 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
621,571 |
|
|
606,152 |
|
| Current assets |
| Stocks |
|
|
220,000 |
|
|
220,000 |
| Debtors |
4 |
|
122,889 |
|
|
143,644 |
| Cash at bank and in hand |
|
|
160,875 |
|
|
235,444 |
|
|
|
503,764 |
|
|
599,088 |
|
| Creditors: amounts falling due within one year |
5 |
|
(167,086) |
|
|
(204,280) |
|
| Net current assets |
|
|
|
336,678 |
|
|
394,808 |
|
| Total assets less current liabilities |
|
|
|
958,249 |
|
|
1,000,960 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(1,940,181) |
|
|
(2,023,918) |
|
|
|
| Net liabilities |
|
|
|
(981,932) |
|
|
(1,022,958) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
10,000 |
|
|
10,000 |
| Profit and loss account |
|
|
|
(991,932) |
|
|
(1,032,958) |
|
| Shareholders' funds |
|
|
|
(981,932) |
|
|
(1,022,958) |
|
|
|
|
|
|
|
|
| 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. |
|
|
| Rongmin Qin |
| Director |
| Approved by the board on 10 October 2023 |
|
| KH Oriental Group Limited |
| Notes to the Accounts |
| for the year ended 31 March 2023 |
|
|
| 1 |
Accounting policies |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at the following rates: |
|
|
Plant and machinery |
20% straight line |
|
Motor vehicles |
20% straight line |
|
Fixtures, fittings, tools and equipment |
20% straight line |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
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. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2023 |
|
2022 |
| Number |
Number |
|
|
Average number of persons employed by the company |
39 |
|
46 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery & Motor vehicles |
|
Fixture and fittings |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2022 |
603,975 |
|
147,318 |
|
798,274 |
|
1,549,567 |
|
Additions |
- |
|
21,995 |
|
- |
|
21,995 |
|
Disposals |
- |
|
(26,115) |
|
- |
|
(26,115) |
|
At 31 March 2023 |
603,975 |
|
143,198 |
|
798,274 |
|
1,545,447 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2022 |
- |
|
147,318 |
|
796,097 |
|
943,415 |
|
Charge for the year |
- |
|
4,399 |
|
2,177 |
|
6,576 |
|
On disposals |
- |
|
(26,115) |
|
- |
|
(26,115) |
|
At 31 March 2023 |
- |
|
125,602 |
|
798,274 |
|
923,876 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2023 |
603,975 |
|
17,596 |
|
- |
|
621,571 |
|
At 31 March 2022 |
603,975 |
|
- |
|
2,177 |
|
606,152 |
|
|
| 4 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade debtors |
6,841 |
|
19,085 |
|
Deferred tax asset |
|
|
|
|
97,349 |
|
107,602 |
|
Other debtors |
18,699 |
|
16,957 |
|
|
|
|
|
|
122,889 |
|
143,644 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade creditors |
149,450 |
|
187,314 |
|
Accruals |
|
5,973 |
|
16,004 |
|
Other taxes and social security costs |
(3,538) |
|
(1,668) |
|
Other creditors |
15,201 |
|
2,630 |
|
|
|
|
|
|
167,086 |
|
204,280 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Bank loans |
355,634 |
|
384,446 |
|
Other creditors |
1,584,547 |
|
1,639,472 |
|
|
|
|
|
|
1,940,181 |
|
2,023,918 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2023 |
|
2022 |
| £ |
£ |
|
Creditors include: |
|
Amounts payable otherwise than by instalment falling due for payment after more than five years (see related party notes below) |
|
1,584,547 |
|
1,639,472 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
|
|
Long term loan of £1,437,271 is provided by 789 Trading Limited (Company number: 08040076, registered office address: 12 New Era Square, Sheffield, S2 4BF) without interest. The remainder loan of £185,000 was borrowed from 789 Investment Limited (Company number: 05798051, registered office address: Office One, 10 New Era Square, Sheffield, S2 4BF). 789 Investment Limited is the holding company of 789 Trading Limited. The outstanding loan as at 31 March 2023 is £147,276. |
|
The company's director Zhen Qin is also the directors of Sanlian-Acme Limited and 789 Trading Limited. |
|
The company's director Rongmin Qin is also the director of 789 Trading Limited. |
|
| 9 |
Controlling party |
|
|
789 Trading Limited holds 100% shares of KH Oriental Group Limited.789 Trading Limited - Company Number 08040076 - Registered office:12 New Era Squre Sheffield S2 4BF. 789 Investments Limited holds 75% share of 789 Trading Limited - Company Number 05798051 - Registered office: Office one 10 New Era Square S2 4BF. |
|
|
| 10 |
Other information |
|
|
KH Oriental Group Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
12 New Era Square |
|
Off Boston Street |
|
Sheffield |
|
S2 4BF |
