Asia Combo Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10395238 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2019

for

Asia Combo Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

Z Zhao

REGISTERED OFFICE:

243 Glossop Road

Sheffield

South Yorkshire

S10 2GZ

REGISTERED NUMBER:

10395238 (England and Wales)

ACCOUNTANTS:

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

CURRENT ASSETS

Debtors

5

49,714

49,714

Cash at bank

383

5,425

50,097

55,139

CREDITORS

Amounts falling due within one year

6

(148,474

)

(74,487

)

NET CURRENT LIABILITIES

(98,377

)

(19,348

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(98,377

)

(19,348

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

(98,477

)

(19,448

)

SHAREHOLDERS' FUNDS

(98,377

)

(19,348

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 May 2020 and were signed by:

Z Zhao - Director

1.	STATUTORY INFORMATION

Asia Combo Holdings Limited 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 (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 year 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.

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.

Going concern

The financial statements have been prepared on a going concern basis which the director believes to be

appropriate as the company is able to depend on the funds provided by the director in the form of a loan.

At the 30th September 2019, the amount owed to the director was £85,908 (2018- £60,108). This amount is

repayable on demand but the director has provided the company with an undertaking that for at least 12 months

from the date of approval of the financial statements, he will make available the funding required for the

company to continue trading and meet its liabilities as they fall due for payment.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

49,714

49,714

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other creditors

148,474

74,487

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

90,000

72,500

Between one and five years

360,000

360,000

In more than five years

607,500

697,500

1,057,500

1,130,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary A Shares

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 October 2018

(19,448

)

Deficit for the year

(79,029

)

At 30 September 2019

(98,477

)

10.	RELATED PARTY DISCLOSURES

Asia Combo Food Limited

A company in which Z Zhao is a director and shareholder

2019

2018

£

£

Due to related party at balance sheet date

41,756

13,829

The amount due to Asia Combo Food Limited is unsecured and has no specific terms regarding payment of

interest. The amount owing is payable on demand but the directors of Asia Combo Food Limited have given their

assurance that the amount will not be demanded until such time as Asia Combo Holdings Limited can afford to

do so without detriment to its operating and working capital requirements.

Director

The company entered into a 12 year property lease on 9 August 2018 with an annual rental of £70,000 for which

the director is acting as a guarantor.

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 Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Asia Combo Holdings Limited for the year ended 30 September 2019 which comprise the Profit

and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Asia Combo Holdings Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Asia Combo Holdings Limited and state those matters that we have agreed to state to the director of Asia Combo Holdings Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Asia Combo Holdings Limited and its director for our work or for this report.

It is your duty to ensure that Asia Combo Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Asia Combo Holdings Limited. You consider that Asia Combo Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Asia Combo Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

6 May 2020