Everbright Trading Company Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05530125

Unaudited Financial Statements for the Year Ended 31 July 2023

for

Everbright Trading Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Songhai Chen

REGISTERED OFFICE:

10 Snowberry Close

BARNET

Hertfordshire

EN5 5FS

REGISTERED NUMBER:

05530125

ACCOUNTANTS:

WONG LANGE & CO.

Chartered Certified & Management Accountants

29-30 Frith Street

London

W1D 5LG

FIXED ASSETS

Intangible assets

4

170

170

Tangible assets

5

1,929

2,270

2,099

2,440

CURRENT ASSETS

Stocks

57,690

56,181

Cash at bank

10,260

17,118

67,950

73,299

CREDITORS

Amounts falling due within one year

6

138,419

180,039

NET CURRENT LIABILITIES

(70,469

)

(106,740

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(68,370

)

(104,300

)

CREDITORS

Amounts falling due after more than one year

7

29,176

39,396

NET LIABILITIES

(97,546

)

(143,696

)

CAPITAL AND RESERVES

Called up share capital

8

50

50

Retained earnings

(97,596

)

(143,746

)

SHAREHOLDERS' FUNDS

(97,546

)

(143,696

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 April 2024 and were signed by:

Songhai Chen - Director

1.	STATUTORY INFORMATION

Everbright Trading Company Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 August 2022

and 31 July 2023

170

NET BOOK VALUE

At 31 July 2023

170

At 31 July 2022

170

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2022

and 31 July 2023

3,554

DEPRECIATION

At 1 August 2022

1,284

Charge for year

341

At 31 July 2023

1,625

NET BOOK VALUE

At 31 July 2023

1,929

At 31 July 2022

2,270

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Taxation and social security

2,603

17,022

Other creditors

135,816

163,017

138,419

180,039

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.23

31.7.22

£

£

Other creditors

29,176

39,396

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.23

31.7.22

value:

£

£

50

Ordinary Share

1

50

50

9.	GOING CONCERN

The account has been drawn up on a going concern basis and the director has confirmed that he has enough funds available to inject into the company should it be necessary to the company in order that all other creditors are paid when the liabilities fall due.