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REGISTERED NUMBER: 10091895 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Vili Chung Limited

Vili Chung Limited (Registered number: 10091895)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vili Chung Limited

Company Information
for the Year Ended 30 April 2023







DIRECTOR: Miss V Chung





SECRETARY: Miss H Hopkins





REGISTERED OFFICE: C/O Tallents Solicitors
3 Middlegate
Newark
Nottinghamshire
NG24 1AQ





REGISTERED NUMBER: 10091895 (England and Wales)





ACCOUNTANTS: Underwood Green
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS

Vili Chung Limited (Registered number: 10091895)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 35,161 55,536

CURRENT ASSETS
Debtors 5 556,107 380,712
Cash at bank 81,203 57,727
637,310 438,439
CREDITORS
Amounts falling due within one year 6 76,546 108,687
NET CURRENT ASSETS 560,764 329,752
TOTAL ASSETS LESS CURRENT
LIABILITIES

595,925

385,288

CREDITORS
Amounts falling due after more than one
year

7

12,850

18,566
NET ASSETS 583,075 366,722

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 582,975 366,622
SHAREHOLDERS' FUNDS 583,075 366,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Vili Chung Limited (Registered number: 10091895)

Balance Sheet - continued
30 April 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2023 and were signed by:





Miss V Chung - Director


Vili Chung Limited (Registered number: 10091895)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Vili Chung 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.

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 represents the company's share of the profits of the partnership Tallents Solicitors.

Goodwill
Purchased goodwill is amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives as follows:

Goodwill - ten years

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

Vili Chung Limited (Registered number: 10091895)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022 138,840
Disposals (21,638 )
At 30 April 2023 117,202
AMORTISATION
At 1 May 2022 83,304
Amortisation for year 11,720
Eliminated on disposal (12,983 )
At 30 April 2023 82,041
NET BOOK VALUE
At 30 April 2023 35,161
At 30 April 2022 55,536

Goodwill arose on the purchase of the company's share in Tallents Solicitors.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Due from Tallents Solicitors 243,367 277,458
Other debtors 138,378 74,278
Directors' current accounts 174,362 28,976
556,107 380,712

Other than as stated under directors' current accounts above, none of the above amounts relate to amounts due from the director or shareholder of the company either directly or indirectly.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,739 5,599
Tax 69,949 102,272
Accruals and deferred income 858 816
76,546 108,687

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,882 5,739
Bank loans - 2-5 years 6,968 12,827
12,850 18,566

Vili Chung Limited (Registered number: 10091895)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
Miss V Chung
Balance outstanding at start of year 28,976 6,447
Amounts advanced 279,888 161,512
Amounts repaid (134,502 ) (138,983 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 174,362 28,976

Interest was charged on the director's advances at HM Revenue & Customs official rate of interest being 2% per annum.

The outstanding advances were cleared within nine months of the year end.