Registration number:
Year Ended
Au Depart Holdings (UK) Limited
Contents
Page
Company Information |
|
Director's Report |
|
Statement of Director's Responsibilities |
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Independent Auditor's Report |
|
Statement of Comprehensive Income |
|
Statement of Financial Position |
|
Notes to the Financial Statements |
Au Depart Holdings (UK) Limited
Company Information
Director |
Hoffman Wu |
Company secretary |
Taylor Wessing Secretaries Limited |
Registered office |
|
Auditor |
|
Page 1 |
Au Depart Holdings (UK) Limited
Director's Report
Year Ended 31 March 2019
The report and the financial statements for the year ended 31 March 2019.
Directors of the Company
The Directors who held office during the year were as follows:
Disclosure of information to the auditor
The Director has taken steps that they ought to have taken as a Director in order to make themselves aware of any relevant audit information and to establish that the Company's auditor is aware of that information. The Director confirms that there is no relevant information that they know of and of which they know the auditor is unaware.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
.........................................
Hoffman Wu
Director
Page 2 |
Au Depart Holdings (UK) Limited
Statement of Director's Responsibilities
The Director acknowledges their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Director to prepare financial statements for each financial year. Under that law the Director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the Director is required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. |
The Director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3 |
Au Depart Holdings (UK) Limited
Independent Auditor's Report to the Members of Au Depart Holdings (UK) Limited
Opinion
We have audited the financial statements of Au Depart Holdings (UK) Limited (the 'Company') for the year ended 31 March 2019, which comprise the Statement of Comprehensive Income, Statement of Financial Position, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• |
give a true and fair view of the state of the Company's affairs as at 31 March 2019 and of its loss for the year then ended; |
• |
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• |
have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
• |
the directors’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or |
• |
the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 4 |
Au Depart Holdings (UK) Limited
Independent Auditor's Report to the Members of Au Depart Holdings (UK) Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• |
the information given in the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Director's Report has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• |
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• |
the financial statements are not in agreement with the accounting records and returns; or |
• |
certain disclosures of directors’ remuneration specified by law are not made; or |
• |
we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 3], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Page 5 |
Au Depart Holdings (UK) Limited
Independent Auditor's Report to the Members of Au Depart Holdings (UK) Limited
......................................
For and on behalf of
22 Chancery Lane
WC2A 1LS
Page 6 |
Au Depart Holdings (UK) Limited
Statement of Comprehensive Income
Year Ended 31 March 2019
|
27 January 2017 (date of incorporation) to 31 March |
|
Turnover |
- |
- |
General administrative expenses |
||
Accountancy fees |
(9,670) |
(5,750) |
Auditor's remuneration |
(6,850) |
(2,750) |
Legal and professional fees |
- |
(21,359) |
( |
( |
|
Operating loss |
( |
( |
Foreign exchange loss |
( |
- |
Total comprehensive loss for the year/period |
( |
( |
Page 7 |
Au Depart Holdings (UK) Limited
(Registration number: 10588034)
Statement of Financial Position as at 31 March 2019
Notes |
2019 |
2018 |
|
Fixed assets |
|||
Intangible assets |
- |
|
|
Investment in a subsidiary |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
(54,422) |
(4,169,056) |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
( |
|
Total equity |
( |
( |
These revised financial statements have been prepared in accordance with the special provisions relating to Companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
.........................................
Hoffman Wu
Director
Page 8 |
Au Depart Holdings (UK) Limited
Notes to the Financial Statements
Year Ended 31 March 2019
General information |
Au Depart Holdings (UK) Limited ("the Company") is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 1A - 'The Financial Reporting Standard Applicable to the UK and Republic of Ireland' (FRS 102 1A) and applicable legislation as set out in the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention.The financial statements are presented in sterling and all items are rounded to the nearest £.
Group accounts not prepared
As the Company is subject to the small companies regime, the company is exempt from preparing group accounts under s.399 of the Companies Act 2006.
Going concern
The financial statements have been prepared on a going concern basis. The company is supported by its parent, Au Depart (HK) Holdings Limited, which has confirmed it will continue to support the company for at least 12 months when the accounts are approved, and on that basis the directors consider the company to be a going concern.
Intangible assets
Intangible assets are carried at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over their estimated useful lives once the assets are available for use. The estimated useful life and amortisation method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis.
Page 9 |
Au Depart Holdings (UK) Limited
Notes to the Financial Statements
Year Ended 31 March 2019
Investments
Investments in subsidiaries are measured at cost less impairment.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the Company during the year was
Auditor's remuneration |
2019 |
27 January 2017 (date of incorporation) to 31 March |
|
Audit of the financial statements |
3,000 |
2,750 |
Under accrual of prior year financial statements |
2,250 |
- |
Audit of the financial statements |
|
|
Intangible assets |
Trademarks |
|
Cost |
|
At 1 April 2018 |
|
Disposals |
( |
At 31 March 2019 |
- |
Carrying amount |
|
At 31 March 2019 |
- |
At 31 March 2018 |
|
Page 10 |
Au Depart Holdings (UK) Limited
Notes to the Financial Statements
Year Ended 31 March 2019
Investments |
2019 |
2018 |
|
Investment in a subsidiary |
|
|
Subsidiary |
£ |
Cost |
|
At 1 April 2018 |
|
Carrying amount |
|
At 31 March 2019 |
|
At 31 March 2018 |
|
Creditors |
Note |
2019 |
2018 |
|
Due within one year |
|||
Trade creditors |
|
- |
|
Amount owed to a group company |
|
|
|
Other creditors |
|
|
|
|
|
Parent undertaking |
The parent company of the smallest group for which consolidated financial statements are drawn up is Au Depart (HK) Holdings Limited, with registered address 11/F, Dawring House, 145 Connaught Road, Central, Hong Kong.
Page 11 |