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Company Registration No. 13544684 (England and Wales)
Laurence Chung Limited Unaudited accounts for the year ended 31 August 2024
Laurence Chung Limited Unaudited accounts Contents
Page
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Laurence Chung Limited Company Information for the year ended 31 August 2024
Director
Laurence Chung
Company Number
13544684 (England and Wales)
Registered Office
38 Notley Road Braintree Essex CM7 1HQ England
Accountants
Beckett Taylor Limited 63-66 Hatton Garden London EC1N 8LE
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Laurence Chung Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
453 
Current assets
Debtors
124 
3,677 
Cash at bank and in hand
53,552 
67,700 
53,676 
71,377 
Creditors: amounts falling due within one year
(13,017)
(25,009)
Net current assets
40,659 
46,368 
Total assets less current liabilities
40,659 
46,821 
Provisions for liabilities
Deferred tax
- 
(86)
Net assets
40,659 
46,735 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
40,658 
46,734 
Shareholders' funds
40,659 
46,735 
For the year ending 31 August 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 director acknowledges his 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 and authorised for issue on 10 January 2025 and were signed on its behalf by
Laurence Chung Director Company Registration No. 13544684
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Laurence Chung Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Laurence Chung Limited is a private company, limited by shares, registered in England and Wales, registration number 13544684. The registered office is 38 Notley Road, Braintree, Essex, CM7 1HQ, 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.
3
Accounting policies
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.
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).
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 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:
Computer equipment
3 years
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Laurence Chung Limited Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 September 2023
1,363 
At 31 August 2024
1,363 
Depreciation
At 1 September 2023
910 
Charge for the year
453 
At 31 August 2024
1,363 
Net book value
At 31 August 2024
- 
At 31 August 2023
453 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
100 
- 
Trade debtors
- 
2,310 
Accrued income and prepayments
24 
31 
Other debtors
- 
1,336 
124 
3,677 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
3,939 
Trade creditors
49 
83 
Taxes and social security
11,217 
19,692 
Loans from directors
456 
- 
Accruals
1,295 
1,295 
13,017 
25,009 
7
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
- 
86 
2024 
2023 
£ 
£ 
Provision at start of year
86 
172 
Credited to the profit and loss account
(86)
(86)
Provision at end of year
- 
86 
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Laurence Chung Limited Notes to the Accounts for the year ended 31 August 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £0.01 each
1 
1 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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