Registered number
08863187
Sei Chung Sak Limited
Filleted Accounts
31 January 2024
Sei Chung Sak Limited
Registered number: 08863187
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,500 1,337
Current assets
Debtors 4 253,193 69,740
Cash at bank and in hand 9,562 131,537
262,755 201,277
Creditors: amounts falling due within one year 5 (39,859) (34,698)
Net current assets 222,896 166,579
Net assets 224,396 167,916
Capital and reserves
Called up share capital 100 100
Profit and loss account 224,296 167,816
Shareholders' funds 224,396 167,916
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sei Chung Sak
Director
Approved by the board on 8 October 2024
Sei Chung Sak Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 9,584
Additions 1,500
At 31 January 2024 11,084
Depreciation
At 1 February 2023 8,247
Charge for the year 1,337
At 31 January 2024 9,584
Net book value
At 31 January 2024 1,500
At 31 January 2023 1,337
4 Debtors 2024 2023
£ £
Other debtors 253,193 69,740
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 528 504
Taxation and social security costs 18,339 22,998
Other creditors 20,992 11,196
39,859 34,698
6 Controlling party
The company is controlled by Mr S Sak and Mrs Y Pang.
7 Other information
Sei Chung Sak Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Pennine View
Blackerhill
Barnsley
S74 0FL
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