Company Registration No. 14114277 (England and Wales)
Chun Yuen Investment Limited
Unaudited accounts
for the period from 18 May 2022 to 31 May 2023
Chun Yuen Investment Limited
Unaudited accounts
Contents
Chun Yuen Investment Limited
Company Information
for the period from 18 May 2022 to 31 May 2023
Directors
CHEE, Chi Kuen
CHEUK, Mei Kam
Company Number
14114277 (England and Wales)
Registered Office
Office Suite 29a 3/F
23 Wharf Street
London
SE8 3GG
United Kingdom
Chun Yuen Investment Limited
Statement of financial position
as at 31 May 2023
Cash at bank and in hand
1,834
Creditors: amounts falling due within one year
(740,709)
Net current liabilities
(738,875)
Profit and loss account
2,535
For the period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2024 and were signed on its behalf by
CHEUK, Mei Kam
Director
Company Registration No. 14114277
Chun Yuen Investment Limited
Notes to the Accounts
for the period from 18 May 2022 to 31 May 2023
Chun Yuen Investment Limited is a private company, limited by shares, registered in England and Wales, registration number 14114277. The registered office is Office Suite 29a 3/F, 23 Wharf Street, London, SE8 3GG, United Kingdom.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The financial statements have been prepared on historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at the fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The company meets its day-to-day working capital requirements through the continued support of its shareholders for the foreseeable future, and at least 12 months from the date of signing of these financial statements. On this basis the director considers that it is appropriate to prepare the financial statements on the going concern basis.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognized in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognized in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognized in other comprehensive income to the extent of any previously recognized revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognized in profit or loss.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
No depreciation is provided for freehold land and buildings.
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Chun Yuen Investment Limited
Notes to the Accounts
for the period from 18 May 2022 to 31 May 2023
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
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Tangible fixed assets
Land & buildings
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Creditors: amounts falling due within one year
2023
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Average number of employees
During the period the average number of employees was 2.