7 false false false false false false false false false false true false false false false true true No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 4018982 2023-07-01 2024-06-30 4018982 2024-06-30 4018982 2023-06-30 4018982 2022-07-01 2023-06-30 4018982 2023-06-30 4018982 2022-06-30 4018982 core:FurnitureFittings 2023-07-01 2024-06-30 4018982 core:MotorVehicles 2023-07-01 2024-06-30 4018982 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 4018982 core:WithinOneYear 2024-06-30 4018982 core:WithinOneYear 2023-06-30 4018982 core:FurnitureFittings 2023-06-30 4018982 core:MotorVehicles 2023-06-30 4018982 core:FurnitureFittings 2024-06-30 4018982 core:MotorVehicles 2024-06-30 4018982 core:UKTax 2023-07-01 2024-06-30 4018982 core:UKTax 2022-07-01 2023-06-30 4018982 core:ShareCapital 2024-06-30 4018982 core:ShareCapital 2023-06-30 4018982 core:RetainedEarningsAccumulatedLosses 2024-06-30 4018982 core:RetainedEarningsAccumulatedLosses 2023-06-30 4018982 core:FurnitureFittings 2023-06-30 4018982 core:MotorVehicles 2023-06-30 4018982 bus:Director1 2023-07-01 2024-06-30 4018982 bus:SmallEntities 2023-07-01 2024-06-30 4018982 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 4018982 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 4018982 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 4018982 bus:FullAccounts 2023-07-01 2024-06-30 4018982 bus:OrdinaryShareClass1 2024-06-30 4018982 bus:OrdinaryShareClass1 2023-06-30
COMPANY REGISTRATION NUMBER: 4018982
Chong Wah Supermarket Limited
Filleted Unaudited Financial Statements
30 June 2024
Chong Wah Supermarket Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
29,143
5,610
Current assets
Stocks
85,200
125,515
Debtors
7
58,005
4,341
Cash at bank and in hand
49,621
207,735
---------
---------
192,826
337,591
Creditors: amounts falling due within one year
8
43,865
195,163
---------
---------
Net current assets
148,961
142,428
---------
---------
Total assets less current liabilities
178,104
148,038
Provisions
Taxation including deferred tax
5,537
1,133
---------
---------
Net assets
172,567
146,905
---------
---------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
172,467
146,805
---------
---------
Shareholders funds
172,567
146,905
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Chong Wah Supermarket Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 26 February 2025 , and are signed on behalf of the board by:
Mr Y H Chu - Director
Company registration number: 4018982
Chong Wah Supermarket Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Britannic House, 279 Chanterlands Avenue, Hull, East Yorkshire, HU5 4DS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less, or to receive more tax.
Tangible assets
Tangible assets are initially recorded at cost, and 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 recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 7 (2023: 6 ).
5. Taxation on ordinary activities
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
1,767
2,561
Deferred tax:
Origination and reversal of timing differences
4,404
40
-------
-------
Taxation on ordinary activities
6,171
2,601
-------
-------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 July 2023
45,423
56,000
101,423
Additions
35,000
35,000
Disposals
( 28,000)
( 28,000)
--------
--------
---------
At 30 June 2024
45,423
63,000
108,423
--------
--------
---------
Depreciation
At 1 July 2023
43,314
52,499
95,813
Charge for the year
527
9,188
9,715
Disposals
( 26,248)
( 26,248)
--------
--------
---------
At 30 June 2024
43,841
35,439
79,280
--------
--------
---------
Carrying amount
At 30 June 2024
1,582
27,561
29,143
--------
--------
---------
At 30 June 2023
2,109
3,501
5,610
--------
--------
---------
7. Debtors
2024
2023
£
£
Prepayments and accrued income
1,035
827
Directors loan account
51,211
Other debtors
5,759
3,514
--------
-------
58,005
4,341
--------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
40,283
99,589
Accruals and deferred income
1,815
1,650
Corporation tax
1,767
16,619
Social security and other taxes
313
Director loan accounts
76,992
--------
---------
43,865
195,163
--------
---------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Directors' advances, credits and guarantees
During the year there were no directors' advances, credits and guarantees.