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Registration number: 13046669

CFG Chester Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

CFG Chester Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

CFG Chester Ltd

Company Information

Director

Dr Wai Ming Kan

Registered office

C/O Williamson & Croft York House,
20 York Street, Manchester
Greater Manchester
United Kingdom
M2 3BB

Accountants

Williamson Croft Accountants Limited
Chartered Certified AccountantsYork House
20 York Street
Manchester
M2 3BB

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
CFG Chester Ltd
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CFG Chester Ltd for the year ended 30 June 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of CFG Chester Ltd , as a body, in accordance with the terms of our engagement letter dated 23 May 2025. Our work has been undertaken solely to prepare for your approval the accounts of CFG Chester Ltd and state those matters that we have agreed to state to the Board of Directors of CFG Chester Ltd , as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CFG Chester Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that CFG Chester Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of CFG Chester Ltd . You consider that CFG Chester Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of CFG Chester Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

28 July 2025

 

CFG Chester Ltd

(Registration number: 13046669)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

15,125

37,775

Current assets

 

Debtors

5

179,829

36,593

Cash at bank and in hand

 

6,915

2,395

 

186,744

38,988

Creditors: Amounts falling due within one year

6

(404,222)

(201,148)

Net current liabilities

 

(217,478)

(162,160)

Net liabilities

 

(202,353)

(124,385)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(202,354)

(124,386)

Shareholders' deficit

 

(202,353)

(124,385)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 28 July 2025
 

.........................................
Dr Wai Ming Kan
Director

 

CFG Chester Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Williamson & Croft York House,
20 York Street, Manchester
Greater Manchester
United Kingdom
M2 3BB

These financial statements were authorised for issue by the director on 28 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis of accounting in the preparation of the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

CFG Chester Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

20% Straight Line

Fixtures & Fittings

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

CFG Chester Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 3).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

45,161

45,831

90,992

Disposals

-

(7,500)

(7,500)

At 30 June 2024

45,161

38,331

83,492

Depreciation

At 1 July 2023

21,226

31,991

53,217

Charge for the year

9,033

13,617

22,650

Eliminated on disposal

-

(7,500)

(7,500)

At 30 June 2024

30,259

38,108

68,367

Carrying amount

At 30 June 2024

14,902

223

15,125

At 30 June 2023

23,935

13,840

37,775

Included within the net book value of land and buildings above is £14,902 (2023 - £23,935) in respect of long leasehold land and buildings.
 

 

CFG Chester Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

991

333

Amounts owed by related parties

176,284

32,790

Prepayments

 

377

-

Other debtors

 

2,177

3,470

   

179,829

36,593

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

3,985

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

333,146

140,923

Accruals and deferred income

 

67,091

60,181

Other creditors

 

-

44

 

404,222

201,148

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

8

Parent and ultimate parent undertaking

The company's immediate parent is CF Chester Ltd, incorporated in England and Wales.