IRIS Accounts Production v23.3.0.418 04265494 Board of Directors 1.4.22 31.3.23 31.3.23 24.10.23 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure042654942022-03-31042654942023-03-31042654942022-04-012023-03-31042654942021-03-31042654942021-04-012022-03-31042654942022-03-3104265494ns16:EnglandWales2022-04-012023-03-3104265494ns15:PoundSterling2022-04-012023-03-3104265494ns11:Director12022-04-012023-03-3104265494ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3104265494ns11:SmallEntities2022-04-012023-03-3104265494ns11:Audited2022-04-012023-03-3104265494ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3104265494ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3104265494ns11:FullAccounts2022-04-012023-03-3104265494ns11:Director22022-04-012023-03-3104265494ns11:RegisteredOffice2022-04-012023-03-3104265494ns6:CurrentFinancialInstruments2023-03-3104265494ns6:CurrentFinancialInstruments2022-03-3104265494ns6:Non-currentFinancialInstruments2023-03-3104265494ns6:Non-currentFinancialInstruments2022-03-3104265494ns6:ShareCapital2023-03-3104265494ns6:ShareCapital2022-03-3104265494ns6:RetainedEarningsAccumulatedLosses2023-03-3104265494ns6:RetainedEarningsAccumulatedLosses2022-03-3104265494ns6:ComputerEquipment2022-03-3104265494ns6:ComputerEquipment2022-04-012023-03-3104265494ns6:ComputerEquipment2023-03-3104265494ns6:ComputerEquipment2022-03-3104265494ns6:CostValuation2022-03-3104265494ns6:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-03-3104265494ns6:CostValuation2023-03-3104265494ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3104265494ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3104265494ns6:AfterOneYearns6:Non-currentFinancialInstruments2023-03-3104265494ns6:AfterOneYearns6:Non-currentFinancialInstruments2022-03-31
REGISTERED NUMBER: 04265494 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

SUSSEX RESEARCH LIMITED

SUSSEX RESEARCH LIMITED (REGISTERED NUMBER: 04265494)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SUSSEX RESEARCH LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: S W Newton
R J Butler



REGISTERED OFFICE: 22 Hill House Drive
Hampton
Middlesex
TW12 2FD



REGISTERED NUMBER: 04265494 (England and Wales)



AUDITORS: Feist Hedgethorne Limited
Statutory Auditors
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB



BANKERS: Bank of Scotland plc
London Chief Office Branch
PO Box 1000
Edinburgh
BX2 1LB

SUSSEX RESEARCH LIMITED (REGISTERED NUMBER: 04265494)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,395 348
Investments 5 934,164 1,284,164
935,559 1,284,512

CURRENT ASSETS
Debtors 6 14,003,241 14,387,415
Cash at bank and in hand 587,142 2,572,391
14,590,383 16,959,806
CREDITORS
Amounts falling due within one year 7 (26,745 ) (28,066 )
NET CURRENT ASSETS 14,563,638 16,931,740
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,499,197

18,216,252

CREDITORS
Amounts falling due after more than one
year

8

(2,126,494

)

(3,119,195

)
NET ASSETS 13,372,703 15,097,057

CAPITAL AND RESERVES
Called up share capital 400,310 400,310
Retained earnings 12,972,393 14,696,747
SHAREHOLDERS' FUNDS 13,372,703 15,097,057

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 24 October 2023 and were signed on its behalf by:





S W Newton - Director


SUSSEX RESEARCH LIMITED (REGISTERED NUMBER: 04265494)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Sussex Research 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.

Preparation of consolidated financial statements
The financial statements contain information about Sussex Research Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Income recognition
Revenue is measured at the fair value of the consideration received or receivable, and is recognised as follows:

Sales of fixed assets: on completion of the transaction.

Dividend income: on receipt.

Loan interest receivable: in period due.

Tangible fixed assets
Tangible fixed assets held for the Company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rate in order to write off each asset over its useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Computer equipment -straight line over 3 years

Impairment review
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

SUSSEX RESEARCH LIMITED (REGISTERED NUMBER: 04265494)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, bank loans, third party loans, related party loans and investments in non-puttable shares.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year 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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension plan for its employees. A defined contribution pension plan is a pension plan under which the company pays contributions into a separate. Once the contributions have been paid, the company has no further obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts owed but not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

SUSSEX RESEARCH LIMITED (REGISTERED NUMBER: 04265494)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2022 3,089
Additions 1,860
Disposals (1,522 )
At 31 March 2023 3,427
DEPRECIATION
At 1 April 2022 2,741
Charge for year 813
Eliminated on disposal (1,522 )
At 31 March 2023 2,032
NET BOOK VALUE
At 31 March 2023 1,395
At 31 March 2022 348

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 April 2022 1 1,284,163 1,284,164
Impairments - (350,000 ) (350,000 )
At 31 March 2023 1 934,163 934,164
NET BOOK VALUE
At 31 March 2023 1 934,163 934,164
At 31 March 2022 1 1,284,163 1,284,164

6. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors - 80,772
Amounts owed by group undertakings 3,491,720 3,489,530
Other debtors 72,180 902,196
3,563,900 4,472,498

Amounts falling due after more than one year:
Other debtors 10,439,341 9,914,917

Aggregate amounts 14,003,241 14,387,415

SUSSEX RESEARCH LIMITED (REGISTERED NUMBER: 04265494)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 394 589
Taxation and social security - 2,004
Other creditors 26,351 25,473
26,745 28,066

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Other creditors 2,126,494 3,119,195

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Chris Morey (Senior Statutory Auditor)
for and on behalf of Feist Hedgethorne Limited

As the Directors' report and income statement have been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with section 444(5B) of the Companies Act 2006.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Sussex Development Services LLP (SDS)

The company was a member of SDS throughout the year.

During the year the company paid expenses on behalf of SDS totalling £48,035, the trade debtor of £80,772 was transferred to the loan, and the balance was written down to the recoverable amount of £1,000.

At 31 March 2023 the following balances subsisted:

1) Trade debtor - £Nil (2022 - £80,772).

2) Other debtor - £1,000 (2022 - £440,092).


S W Newton, director

During the year the company repaid the director £992,701.

At 31 March 2023 the following balance subsisted: Creditor - £2,126,494 (2022 - £3,119,195).