9 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 75,000 75,000 xbrli:pure xbrli:shares iso4217:GBP 06876824 2022-04-01 2023-03-31 06876824 2023-03-31 06876824 2022-03-31 06876824 2021-04-01 2022-03-31 06876824 2022-03-31 06876824 2021-03-31 06876824 core:NetGoodwill 2022-04-01 2023-03-31 06876824 bus:Director1 2022-04-01 2023-03-31 06876824 core:NetGoodwill 2023-03-31 06876824 core:FurnitureFittings 2022-03-31 06876824 core:FurnitureFittings 2023-03-31 06876824 core:FurnitureFittings 2022-04-01 2023-03-31 06876824 core:WithinOneYear 2023-03-31 06876824 core:WithinOneYear 2022-03-31 06876824 core:ShareCapital 2023-03-31 06876824 core:ShareCapital 2022-03-31 06876824 core:RetainedEarningsAccumulatedLosses 2023-03-31 06876824 core:RetainedEarningsAccumulatedLosses 2022-03-31 06876824 core:FurnitureFittings 2022-03-31 06876824 bus:SmallEntities 2022-04-01 2023-03-31 06876824 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06876824 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06876824 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06876824 bus:FullAccounts 2022-04-01 2023-03-31 06876824 core:OfficeEquipment 2022-03-31 06876824 core:OfficeEquipment 2022-04-01 2023-03-31 06876824 core:OfficeEquipment 2023-03-31 06876824 core:KeyManagementPersonnel 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 06876824
Suretrak (S.E.) Ltd
Filleted Unaudited Financial Statements
31 March 2023
Suretrak (S.E.) Ltd
Financial Statements
Year ended 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Suretrak (S.E.) Ltd
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
2,430
3,043
Current assets
Stocks
3,500
3,500
Debtors
7
35,650
32,430
Cash at bank and in hand
50,764
69,605
--------
---------
89,914
105,535
Creditors: amounts falling due within one year
8
38,422
39,170
--------
---------
Net current assets
51,492
66,365
--------
--------
Total assets less current liabilities
53,922
69,408
--------
--------
Net assets
53,922
69,408
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
53,822
69,308
--------
--------
Shareholder funds
53,922
69,408
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Suretrak (S.E.) Ltd
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 3 October 2023 , and are signed on behalf of the board by:
Miss J Martin
Director
Company registration number: 06876824
Suretrak (S.E.) Ltd
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 9, Broadlands Industrial Estate, Blean Common, Canterbury, Kent, CT2 9JQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% Straight Line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
25% Reducing Balance
Equipment
-
25% Reducing Balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2022: 9 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
75,000
--------
Amortisation
At 1 April 2022 and 31 March 2023
75,000
--------
Carrying amount
At 31 March 2023
--------
At 31 March 2022
--------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2022
11,279
17,838
29,117
Additions
198
198
--------
--------
--------
At 31 March 2023
11,279
18,036
29,315
--------
--------
--------
Depreciation
At 1 April 2022
10,428
15,646
26,074
Charge for the year
213
598
811
--------
--------
--------
At 31 March 2023
10,641
16,244
26,885
--------
--------
--------
Carrying amount
At 31 March 2023
638
1,792
2,430
--------
--------
--------
At 31 March 2022
851
2,192
3,043
--------
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
35,200
30,000
Other debtors
450
2,430
--------
--------
35,650
32,430
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,317
1,025
Corporation tax
4,342
1,811
Social security and other taxes
10,347
10,264
Other creditors
22,416
26,070
--------
--------
38,422
39,170
--------
--------
9. Related party transactions
At the year end the company owed the director £20,166 (2022: £23,741).