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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 MAY 2017 TO 30 JUNE 2018 |
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TONG WONG LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 MAY 2017 TO 30 JUNE 2018 |
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FOR |
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TONG WONG LTD |
TONG WONG LTD (REGISTERED NUMBER: 07587377) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 May 2017 to 30 June 2018 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Report of the Accountants | 5 |
TONG WONG LTD |
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COMPANY INFORMATION |
for the Period 1 May 2017 to 30 June 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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'Danesbury House' |
49 Cardiff Road |
Luton |
Bedfordshire |
LU1 1PP |
TONG WONG LTD (REGISTERED NUMBER: 07587377) |
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ABRIDGED BALANCE SHEET |
30 June 2018 |
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2017 | 2018 |
£ | Notes | £ |
FIXED ASSETS |
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Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
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Amounts falling due within one year | ( |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
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Called up share capital |
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Retained earnings |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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TONG WONG LTD (REGISTERED NUMBER: 07587377) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 May 2017 to 30 June 2018 |
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1. | STATUTORY INFORMATION |
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TONG WONG LTD is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
Goodwill be the amount paid in connection with the acquisition of the business on the 4 December 2017, is |
being amortized evenly over 10 years. In accordance with FRS102, goodwill is presumed to have a finite life and |
where no reliable estimate of the useful economic life can be made, this must not exceed 10 years. The director |
considers that this policy results in the accounts giving a true and fair view. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Equipment, fixtures & fittings | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
TONG WONG LTD (REGISTERED NUMBER: 07587377) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 May 2017 to 30 June 2018 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | INTANGIBLE FIXED ASSETS |
Totals |
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COST |
Additions |
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At 30 June 2018 |
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AMORTISATION |
Amortisation for period |
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At 30 June 2018 |
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NET BOOK VALUE |
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At 30 June 2018 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
Additions |
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At 30 June 2018 |
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DEPRECIATION |
Charge for period |
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At 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following were transactions with the director during the period: |
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Transfer of the goodwill and tangible fixed assets at tax written down values of the director's |
sole trader's business on incorporation 20,750 |
Dividend received 2,000 |
Private transaction withdrawals (3,257) |
Balance due from the company to the director as at 30 June 2018 19,493 |
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7. | ULTIMATE CONTROLLING PARTY |
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The ultimate control of the company rests with the sole director and shareholder. |
TONG WONG LTD |
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REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF |
TONG WONG LTD |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary |
statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 30 June 2018 set out on pages three to seven and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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'Danesbury House' |
49 Cardiff Road |
Luton |
Bedfordshire |
LU1 1PP |
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