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Registration number: 12599601

CFG Leeds Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

CFG Leeds Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

CFG Leeds Ltd

Company Information

Director

Dr Wai Ming Kan

Registered office

C/O Cooper Parry St James Building,
79 Oxford Street,
Manchester
United Kingdom
M1 6HT

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 Leeds 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 Leeds 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 Leeds Ltd, as a body, in accordance with the terms of our engagement letter dated 16 June 2025. Our work has been undertaken solely to prepare for your approval the accounts of CFG Leeds Ltd and state those matters that we have agreed to state to the Board of Directors of CFG Leeds 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 Leeds Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that CFG Leeds 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 Leeds Ltd. You consider that CFG Leeds 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 Leeds 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 Leeds Ltd

(Registration number: 12599601)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

15,588

4,006

Current assets

 

Debtors

5

427,751

335,923

Cash at bank and in hand

 

19,423

9,287

 

447,174

345,210

Creditors: Amounts falling due within one year

6

(385,001)

(264,636)

Net current assets

 

62,173

80,574

Net assets

 

77,761

84,580

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

77,760

84,579

Shareholders' funds

 

77,761

84,580

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 Leeds 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 Cooper Parry St James Building,
79 Oxford Street,
Manchester
United Kingdom
M1 6HT

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.

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 Leeds Ltd

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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

Office equipment

20% straight line

Fixture and fittings

20% straight line

Leasehold improvement

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 Leeds 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 3 (2023 - 4).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

6,674

10,289

16,963

Additions

13,686

1,637

15,323

At 30 June 2024

20,360

11,926

32,286

Depreciation

At 1 July 2023

4,888

8,069

12,957

Charge for the year

1,451

2,290

3,741

At 30 June 2024

6,339

10,359

16,698

Carrying amount

At 30 June 2024

14,021

1,567

15,588

At 30 June 2023

1,786

2,220

4,006

Included within the net book value of land and buildings above is £14,021 (2023 - £1,786) in respect of long leasehold land and buildings.
 

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1,363

2,151

Amounts owed by related parties

416,749

322,489

Prepayments

 

6,469

7,035

Other debtors

 

3,170

4,248

   

427,751

335,923

 

CFG Leeds Ltd

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

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

19,383

1,894

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

283,464

102,602

Accruals and deferred income

 

81,790

160,124

Other creditors

 

364

16

 

385,001

264,636

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

8

Parent and ultimate parent undertaking

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