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REGISTERED NUMBER: OC441965 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Chiu & Thong Partnership LLP

Chiu & Thong Partnership LLP (Registered number: OC441965)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chiu & Thong Partnership LLP

General Information
for the Year Ended 31st March 2024







DESIGNATED MEMBERS: Ms P H Thong
J W Chiu
Chiu & Thong Holdings Ltd





REGISTERED OFFICE: c/o OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Billingham
TS23 4EA





REGISTERED NUMBER: OC441965 (England and Wales)





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

Chiu & Thong Partnership LLP (Registered number: OC441965)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,233,321 3,233,321

CURRENT ASSETS
Cash at bank 245,964 151,469
TOTAL ASSETS LESS CURRENT LIABILITIES 3,479,285 3,384,790

CREDITORS
Amounts falling due after more than one
year

5

(187,407

)

(187,389

)
NET ASSETS ATTRIBUTABLE TO MEMBERS 3,291,878 3,197,401

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

-

3,197,401

MEMBERS' OTHER INTERESTS
Capital accounts 3,291,878 -
3,291,878 3,197,401

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 - 3,197,401
Members' other interests 3,291,878 -
3,291,878 3,197,401

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Chiu & Thong Partnership LLP (Registered number: OC441965)

Balance Sheet - continued
31st March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 28th July 2025 and were signed by:




Ms P H Thong - Designated member




J W Chiu - Designated member


Chiu & Thong Partnership LLP (Registered number: OC441965)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Chiu & Thong Partnership LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1st April 2023
and 31st March 2024 3,233,321
NET BOOK VALUE
At 31st March 2024 3,233,321
At 31st March 2023 3,233,321

The directors see no benefit in revaluing the properties.

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 187,407 187,389

Chiu & Thong Partnership LLP (Registered number: OC441965)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage 187,407 187,389

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in liquidation.