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WONG CHIU 168 LIMITED

Registered Number
SC768677
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2024

WONG CHIU 168 LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

Chanelle Chiu Wai Wong

Registered Address

9 Royal Crescent
Glasgow
G3 7SP

Registered Number

SC768677 (Scotland)
WONG CHIU 168 LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property3250,000-
250,000-
Current assets
Debtors4,710-
Cash at bank and on hand6,286100
10,996100
Creditors amounts falling due within one year4(254,571)-
Net current assets (liabilities)(243,575)100
Total assets less current liabilities6,425100
Net assets6,425100
Capital and reserves
Called up share capital100100
Profit and loss account6,325-
Shareholders' funds6,425100
The financial statements were approved and authorised for issue by the Director on 21 June 2025, and are signed on its behalf by:
Chanelle Chiu Wai Wong
Director
Registered Company No. SC768677
WONG CHIU 168 LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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 policy
The turnover shown in the profit and loss account represents the rental income receivable for the year. Income is recognised on the basis of rent due for the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year00
3.Investment property
The director considers the valuation of the property to be equivalent to the cost.

£
Additions250,000
At 30 September 24250,000
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security1,728-
Other creditors251,530-
Accrued liabilities and deferred income1,313-
Total254,571-
Other creditors represents a loan from the directors which is interest free and repayable on demand.
5.Related party transactions
The loan balance due to the director amounted to £251,530 (2023: £nil) at the year end.