Registered Number
:
02851688
|
For the year ended 31 March 2020
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2020
Chua & Young Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
Chua & Young Limited
Statement of Financial Position
2019
2020
Property
,
plant and equipment
|
200,000
340,000
2
200,000
340,000
Trade and other receivables
|
6,985
506
3
42,847
35,754
4
19,672
Cash and cash equivalents
|
125,371
161,631
69,504
Trade and other payables
:
amounts falling due within one
|
year
|
(31,861)
(10,272)
5
37,643
151,359
Net current assets
Total assets less current liabilities
|
351,359
377,643
351,359
Net assets
377,643
120,000
120,000
62,888
129,728
6
168,471
127,915
351,359
377,643
Shareholders' funds
For the year ended 31 March 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 14 December 2020 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 31 March 2020
Chua & Young Limited
Notes to the Financial Statements
Statutory Information
Chua
&
Young Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration
|
number
02851688
.
|
Old Park Barn
Dag Lane
Stoke Goldington
Buckinghamshire
MK16 8NY
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover represents rents receivable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
The company
''
s freehold properties are revalued in full every five years
.
Interim valuations are carried out when it is
|
likely that there has been a material change in value
.
|
No depreciation is provided on the company
''
s freehold properties since in the opinion of the directors the expected
|
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
|
would be immaterial
.
The directors undertake an annual impairment review of these properties
.
|
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
|
2
.
Property
,
plant and equipment
|
340,000
(140,000)
200,000
200,000
340,000
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For the year ended 31 March 2020
Chua & Young Limited
Notes to the Financial Statements Continued
3
.
Trade and other receivables
|
2019
2020
194
4,875
312
2,110
6,985
506
4
.
Financial instruments at fair value
|
2019
2020
35,754
42,847
5
.
Trade and other payables
:
amounts falling due within one year
|
2019
2020
Taxation and social security
|
6,891
5,360
3,381
26,501
10,272
31,861
Revaluation reserve at
01
April
2019
|
129,728
Revaluation of fixed assets
|
(66,840)
62,888
Revaluation reserve at
31
March
2020
|
7
.
Average number of persons employed
|
During the year the average number of employees was 3 (2019 : 3)
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