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REGISTERED NUMBER: 11978159 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Chau Commercial Group Ltd

Chau Commercial Group Ltd (Registered number: 11978159)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chau Commercial Group Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: M H Chau
Mrs C T Dinh
J Chau
H Chau





REGISTERED OFFICE: 315, Regents Park Road
Finchley Central
London
N3 1DP





REGISTERED NUMBER: 11978159 (England and Wales)






Chau Commercial Group Ltd (Registered number: 11978159)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,108,499 1,116,966

CURRENT ASSETS
Debtors 5 87,500 99,500
Cash at bank 37,384 71,282
124,884 170,782
CREDITORS
Amounts falling due within one year 6 35,035 59,696
NET CURRENT ASSETS 89,849 111,086
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,198,348

1,228,052

CREDITORS
Amounts falling due after more than one
year

7

(1,149,839

)

(1,184,861

)

PROVISIONS FOR LIABILITIES 10 (1,859 ) (2,354 )
NET ASSETS 46,650 40,837

CAPITAL AND RESERVES
Called up share capital 11 4 4
Retained earnings 46,646 40,833
SHAREHOLDERS' FUNDS 46,650 40,837

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Chau Commercial Group Ltd (Registered number: 11978159)

Balance Sheet - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2024 and were signed on its behalf by:





J Chau - Director


Chau Commercial Group Ltd (Registered number: 11978159)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Chau Commercial Group Ltd 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. 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.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment 25% reducing balance
Freehold building 2% reducing balance
Fixture and fittings 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

Chau Commercial Group Ltd (Registered number: 11978159)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Chau Commercial Group Ltd (Registered number: 11978159)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Freehold Fixtures
land and and Computer
buildings fittings equipment Totals
£    £    £    £   
COST
At 1 June 2022
and 31 May 2023 1,114,834 19,000 1,000 1,134,834
DEPRECIATION
At 1 June 2022 10,259 7,031 578 17,868
Charge for year 5,369 2,992 106 8,467
At 31 May 2023 15,628 10,023 684 26,335
NET BOOK VALUE
At 31 May 2023 1,099,206 8,977 316 1,108,499
At 31 May 2022 1,104,575 11,969 422 1,116,966

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 87,500 99,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors - 22,402
Taxation and social security 7,113 12,372
Other creditors 27,922 24,922
35,035 59,696

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans (see note 8) 645,909 680,931
Other creditors 503,930 503,930
1,149,839 1,184,861

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 645,909 680,931
Other loans more 5yrs instal 503,930 503,930
1,149,839 1,184,861

Chau Commercial Group Ltd (Registered number: 11978159)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. LOANS

An analysis of the maturity of loans is given below:

31.5.23 31.5.22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 645,909 680,931
Other loans more 5yrs instal 503,930 503,930
1,149,839 1,184,861

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 645,909 680,931

These loans are secured by a legal charge over all freehold properties owned by the company.

10. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 1,859 2,354

Deferred
tax
£   
Balance at 1 June 2022 2,354
Provided during year (495 )
Balance at 31 May 2023 1,859

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
4 Ordinary Shares £1 4 4

12. RELATED PARTY DISCLOSURES

Hollywood Nails & Beauty Supplies Ltd

During the year under review, the company had loans due to Hollywood Nails & Beauty Supplies Ltd, company with common directorship, in the amount of £503,930 at the balance sheet date. The loans are unsecured, interest free and repayable on demand.