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Registered Number: SC588746
Scotland

 

 

 

CHENGDU LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 28 February 2023.
Principal activities
Principal activity of the company during the financial year was of a restaurant.
Director
The director who served the company throughout the year was as follows:
Sai Chiu Chung
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Sai Chiu Chung
Director

Date approved: 30 November 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 20,689    20,689 
20,689    20,689 
Current assets      
Stocks 4 3,219    3,219 
Debtors 5 2,601    2,601 
Cash at bank and in hand 241,386    241,386 
247,206    247,206 
Creditors: amount falling due within one year 6 (78,506)   (78,506)
Net current assets 168,700    168,700 
 
Total assets less current liabilities 189,389    189,389 
Creditors: amount falling due after more than one year 7 (32,796)   (32,796)
Provisions for liabilities 8 (3,962)   (3,962)
Net assets 152,631    152,631 
 

Capital and reserves
     
Called up share capital 9 1    1 
Profit and loss account 152,630    152,630 
Shareholders' funds 152,631    152,631 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 30 November 2024 and were signed by:


-------------------------------
Sai Chiu Chung
Director
2
General Information
CHENGDU LTD is a private company, limited by shares, registered in Scotland, registration number SC588746, registration address 34 Hamilton Road, Bothwwell, G71 8NB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 15 (2022 : 8).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 March 2022 27,554    27,554 
Additions  
Disposals  
At 28 February 2023 27,554    27,554 
Depreciation
At 01 March 2022 6,865    6,865 
Charge for year  
On disposals  
At 28 February 2023 6,865    6,865 
Net book values
Closing balance as at 28 February 2023 20,689    20,689 
Opening balance as at 01 March 2022 20,689    20,689 


4.

Stocks

2023
£
  2022
£
Stocks 3,219    3,219 
3,219    3,219 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 1    1 
1    1 

5.

Debtors: amounts falling due after one year

2023
£
  2022
£
Prepayments 2,600    2,600 
2,600    2,600 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 9,283    9,283 
Corporation Tax 33,906    33,906 
PAYE & Social Security 1,890    1,890 
Accrued Expenses 5,118    5,118 
VAT 28,309    28,309 
78,506    78,506 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Directors' Loan Accounts 32,796    32,796 
32,796    32,796 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 3,962    3,962 
3,962    3,962 

9.

Share Capital

Authorised
1 Class A share of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
 

3