REGISTERED NUMBER: 05247120 (England and Wales)

Chung Lim Limited

Unaudited Financial Statements

for the Period 1 April 2024 to 28 February 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Y C Lim

Y W Lim

J Y Lim

SECRETARY:

Y C Lim

REGISTERED OFFICE:

90 Crwys Road

Cathays

Cardiff

CF24 4NP

REGISTERED NUMBER:

05247120 (England and Wales)

ACCOUNTANTS:

Xeinadin South Wales & West Limited

Accountants & Business Advisors

Suite 2d,

Building 1 Eastern Business Park

St Mellons

Cardiff

CF3 5EA

FIXED ASSETS

Tangible assets

4

575,738

575,738

CURRENT ASSETS

Debtors

5

5,591

520,556

Cash at bank

21,989

13,706

27,580

534,262

CREDITORS

Amounts falling due within one year

6

36,673

236,034

NET CURRENT (LIABILITIES)/ASSETS

(9,093

)

298,228

TOTAL ASSETS LESS CURRENT LIABILITIES

566,645

873,966

CREDITORS

Amounts falling due after more than one year

7

442,524

442,776

NET ASSETS

124,121

431,190

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

124,021

431,090

124,121

431,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2025 and were signed on its behalf by:

Y W Lim - Director

1.	STATUTORY INFORMATION

Chung Lim Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company meets its working capital requirements through the ongoing support of its directors. If this support is removed, it may not be appropriate for the financial statements to be prepared on a going concern basis and as such the company's assets and liabilities may have to be restated.

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.

Motor vehicles

-

33% on cost

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Financial instruments

Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Motor

property

vehicles

Totals

£

£

£

COST

At 1 April 2024

and 28 February 2025

575,738

3,393

579,131

DEPRECIATION

At 1 April 2024

and 28 February 2025

-

3,393

3,393

NET BOOK VALUE

At 28 February 2025

575,738

-

575,738

At 31 March 2024

575,738

-

575,738

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

31.3.24

£

£

Trade debtors

5,591

5,591

Other debtors

-

514,965

5,591

520,556

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

31.3.24

£

£

Bank loans and overdrafts

35,476

33,203

Trade creditors

-

5,782

Taxation and social security

(1,302

)

-

Other creditors

2,499

197,049

36,673

236,034

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

31.3.24

£

£

Bank loans

442,524

442,776

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

284,688

292,564

8.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

31.3.24

£

£

Bank loans

478,000

475,979

The bank loans are secured by fixed and floating charges held over all the company's assets.