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Registration number: 04528381

Cho Cho San Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Cho Cho San Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Cho Cho San Ltd

Company Information

Directors

Mr Nigel John Wordingham

Mrs Elizabeth Patricia Wordingham

Registered office

40 Le Strange Close
Norwich
NR2 3PW

 

Cho Cho San Ltd

(Registration number: 04528381)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,110

246

Investment property

5

320,000

320,000

Other financial assets

6

92,873

92,494

 

413,983

412,740

Current assets

 

Cash at bank and in hand

 

8,716

14,823

Creditors: Amounts falling due within one year

7

(114,443)

(114,834)

Net current liabilities

 

(105,727)

(100,011)

Total assets less current liabilities

 

308,256

312,729

Provisions for liabilities

(7,411)

(6,981)

Net assets

 

300,845

305,748

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

299,845

304,748

Shareholders' funds

 

300,845

305,748

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 March 2024 and signed on its behalf by:
 

 

Cho Cho San Ltd

(Registration number: 04528381)
Balance Sheet as at 30 September 2023

.........................................
Mr Nigel John Wordingham
Director

 

Cho Cho San Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
40 Le Strange Close
Norwich
NR2 3PW

These financial statements were authorised for issue by the Board on 30 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Cho Cho San Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined when considered necessary by external valuers and reviewed annually by the directors. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Cho Cho San Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Cho Cho San Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

1,399

1,399

Additions

1,234

1,234

At 30 September 2023

2,633

2,633

Depreciation

At 1 October 2022

1,153

1,153

Charge for the year

370

370

At 30 September 2023

1,523

1,523

Carrying amount

At 30 September 2023

1,110

1,110

At 30 September 2022

246

246

5

Investment properties

2023
£

At 1 October

320,000

At 30 September

320,000

There has been no valuation of investment property by an independent valuer.

 

Cho Cho San Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2022

92,494

92,494

Fair value adjustments

1,149

1,149

Additions

6,990

6,990

Disposals

(7,760)

(7,760)

At 30 September 2023

92,873

92,873

Impairment

Carrying amount

At 30 September 2023

92,873

92,873

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

103,000

103,000

Taxation and social security

 

4,047

4,246

Accruals and deferred income

 

701

893

Other creditors

 

6,695

6,695

 

114,443

114,834

8

Share capital

Allotted, called up and fully paid shares

 

Cho Cho San Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

 

2023

2022

 

No.

£

No.

£

A shares of £1 each

510

510

510

510

B shares of £1 each

460

460

460

460

C shares of £1 each

5

5

5

5

D shares of £1 each

5

5

5

5

E shares of £1 each

5

5

5

5

F shares of £1 each

5

5

5

5

G shares of £1 each

5

5

5

5

H shares of £1 each

5

5

5

5

 

1,000

1,000

1,000

1,000

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

103,000

103,000

Bank borrowings

The loan is secured on the investment property by a charge registered in March 2017.