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Company Registration No. 10170908 (England and Wales)
Sugar & Splice Limited Unaudited accounts for the year ended 31 May 2023
Sugar & Splice Limited Unaudited accounts Contents
Page
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Sugar & Splice Limited Company Information for the year ended 31 May 2023
Director
C A Ward-Scott
Company Number
10170908 (England and Wales)
Registered Office
84 Ravenswood Avenue Tunbridge Wells TN2 3SJ
Accountants
MIB Accountants Limited Kingfisher House 21-23 Elmfield Road Bromley Kent BR1 1LT
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Sugar & Splice Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,336 
1,780 
Current assets
Debtors
2,280 
2,100 
Cash at bank and in hand
7,107 
6,267 
9,387 
8,367 
Creditors: amounts falling due within one year
(18,694)
(13,401)
Net current liabilities
(9,307)
(5,034)
Net liabilities
(7,971)
(3,254)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(8,071)
(3,354)
Shareholders' funds
(7,971)
(3,254)
For the year ending 31 May 2023 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 October 2023 and were signed on its behalf by
C A Ward-Scott Director Company Registration No. 10170908
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Sugar & Splice Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Sugar & Splice Limited is a private company, limited by shares, registered in England and Wales, registration number 10170908. The registered office is 84 Ravenswood Avenue, Tunbridge Wells, TN2 3SJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Straight line
Taxation
The tax is payable on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss accounts because it excludes items of income and expenditure that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Sugar & Splice Limited Notes to the Accounts for the year ended 31 May 2023
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 June 2022
3,561 
Additions
594 
At 31 May 2023
4,155 
Depreciation
At 1 June 2022
1,781 
Charge for the year
1,038 
At 31 May 2023
2,819 
Net book value
At 31 May 2023
1,336 
At 31 May 2022
1,780 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,280 
2,100 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
4,553 
- 
Taxes and social security
11,562 
11,812 
Other creditors
2,579 
1,589 
18,694 
13,401 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
85 'A' Ordinary shares of £1 each
85 
85 
15 'B' Ordinary shares of £1 each
15 
15 
100 
100 
8
Transactions with related parties
Included within creditors at the year end is £1,979 (2022: £929) due to the director C A Ward-Scott.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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