Company Registration No. 13917321 (England and Wales)
Christian Zheng Sheng Association UK
Unaudited accounts
for the year ended 29 February 2024
Christian Zheng Sheng Association UK
Unaudited accounts
Contents
Christian Zheng Sheng Association UK
Statement of financial position
as at 29 February 2024
Tangible assets
1,069,984
-
Cash at bank and in hand
2,407,496
3,215,929
Creditors: amounts falling due within one year
(3,500,987)
(3,220,163)
Net current liabilities
(1,093,491)
(4,234)
Net liabilities
(23,507)
(4,234)
Profit and loss account
(23,507)
(4,234)
Members' funds
(23,507)
(4,234)
For the year ending 29 February 2024 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 25 November 2024 and were signed on its behalf by
Dr Siu Cheuk Chan
Director
Company Registration No. 13917321
Christian Zheng Sheng Association UK
Notes to the Accounts
for the year ended 29 February 2024
Christian Zheng Sheng Association UK is a private company, limited by guarantee, registered in England and Wales, registration number 13917321. The registered office is 70-72 St. John Street, Bridgwater, Somerset, TA6 5HY, England.
2
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 remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
The financial statements have been prepared on the going concern basis, notwithstanding a loss in the year of £19,273 and net liabilities at 29 February 2024 of £23,507. The directors believe this to be the appropriate basis.
Christian Zheng Sheng Association Ltd of Hong Kong has written to the company to confirm that, for at least 12 months from the date of these financial statements, it will make available such funds as are needed by the company. The directors consider that the above should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment. As with any company placing reliance on other entities for financial support, the directors acknowledge that there can be no certainty that this support will be provided although, at the date of approval of these financial statements, they have no reason to believe that it will not be.
Based on this the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.
Christian Zheng Sheng Association UK
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Land & buildings
At 29 February 2024
1,092,537
Charge for the year
22,553
At 29 February 2024
22,553
At 29 February 2024
1,069,984
5
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
3,497,474
3,217,474
Taxes and social security
3,008
2,679
Loans from directors
10
10
6
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
7
Transactions with related parties
During the year the company received £120,000 (2023: £120,000) from Christian Zheng Sheng Assoiciation Ltd in Hong Kong as donation. In the year-end, balances owed to Christian Zheng Sheng Assoiciation Ltd in Hong Kong was £3,497,474 (2023: £3,217,474).
8
Average number of employees
During the year the average number of employees was 13 (2023: 6).