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REGISTERED NUMBER:
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ANGLO CHINESE SECURITIES, |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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REGISTERED NUMBER:
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ANGLO CHINESE SECURITIES, |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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ANGLO CHINESE SECURITIES, |
LIMITED (REGISTERED NUMBER: 06242520) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ANGLO CHINESE SECURITIES, |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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Director: |
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Secretary: |
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Registered office: |
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Registered number: |
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ANGLO CHINESE SECURITIES, |
LIMITED (REGISTERED NUMBER: 06242520) |
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BALANCE SHEET |
30 SEPTEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ |
Current assets |
Debtors | 3 |
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Total assets less current liabilities |
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Capital and reserves |
Called up share capital | 4 |
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Shareholders' funds |
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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. |
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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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ANGLO CHINESE SECURITIES, |
LIMITED (REGISTERED NUMBER: 06242520) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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1. | Statutory information |
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Anglo Chinese Securities, Limited is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards |
(United Kingdom Generally Accepted Accounting Practice), which have been applied consistently(except |
otherwise stated). |
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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. |
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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 year 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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Critical accounting judgements and estimation uncertainty |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, |
including expectations of future events that are believed to be reasonable under the circumstances. |
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(a) Critical judgements in applying the Company's accounting policies |
The Company makes a number of assessments which require judgement in preparing the accounts and can |
have a significant effect upon the financial statements. However due to the straight forward nature of the |
Company's business, management does not believe that there are any judgements that have a significant risk of |
causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
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(b) Key accounting estimates and assumptions |
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, |
by definition, seldom equal the related actual results. However due to the straight forward nature of the |
Company's business, management does not believe that there are any estimates and assumptions that have a |
significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next |
financial year. |
ANGLO CHINESE SECURITIES, |
LIMITED (REGISTERED NUMBER: 06242520) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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2. | Accounting policies - continued |
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Going concern |
These financial statements have been prepared on a going concern basis. |
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The current economic conditions present increased risks for all businesses. In response to such conditions, the |
director has carefully considered these risks including an assessment on uncertainty on future trading projection |
for a period of at least 12 months from the date of signing the financial statements, and the extent to which they |
might affect the preparation of the financial statements on a going concern basis. |
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The director has a reasonable expectation that the Company has adequate resources to continue in operational |
existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts |
upon the Company's ability to continue as a going concern. Thus the director has continued to adopt the going |
concern basis of accounting in preparing these financial statements. |
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Financial instruments |
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
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(i) Financial assets |
Basic financial assets, including trade and other receivables, and cash and bank balances, are initially |
recognised at transaction price. |
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Trade receivables are assets due for services that have been acquired in the ordinary course of business from |
suppliers. Accounts receivables are classified as current assets if receipt is expected within one year or less. If |
not, they are presented as non-current assets. Trade receivables are recognised initially at transaction price and |
subsequently measured at amortised cost using the effective interest method. |
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(ii) Financial liabilities |
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price. |
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Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year |
or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction |
price and subsequently measured at amortised cost using the effective interest method. |
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Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is |
discharged, cancelled or expires. |
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3. | Debtors: amounts falling due after more than one year |
2018 | 2017 |
£ | £ |
Other debtors |
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4. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary Shares | £1 | 2 | 2 |
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5. | Reserves |
Retained |
earnings |
£ |
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Profit for the year |
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At 30 September 2018 |
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ANGLO CHINESE SECURITIES, |
LIMITED (REGISTERED NUMBER: 06242520) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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6. | Ultimate controlling party |
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The ultimate parent company is Anglo & Overseas Holdings, Limited, a company incorporated in the Cayman |
Islands. |