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REGISTERED NUMBER: 02664923















SURCO LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






SURCO LIMITED (REGISTERED NUMBER: 02664923)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SURCO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: D Smart
R M Stanbridge
C Birchall
J Smith
S W Hamlyn



SECRETARY: J Gray



REGISTERED OFFICE: Dominion House
Sibson Road
Sale
Greater Manchester
M33 7PP



REGISTERED NUMBER: 02664923



SENIOR STATUTORY AUDITOR: Michael Benson



AUDITORS: Murray Smith LLP
Chartered Accountants
Statutory Auditor
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU

SURCO LIMITED (REGISTERED NUMBER: 02664923)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,873 2,496
Investments 5 526 526
2,399 3,022

CURRENT ASSETS
Stocks 500 500
Debtors 6 22,629 26,933
Cash at bank 30,762 55,604
53,891 83,037
CREDITORS
Amounts falling due within one year 7 337,212 300,683
NET CURRENT LIABILITIES (283,321 ) (217,646 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(280,922

)

(214,624

)

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings (280,924 ) (214,626 )
SHAREHOLDERS' FUNDS (280,922 ) (214,624 )

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 23 November 2023 and were signed on its behalf by:




D Smart - Director



C Birchall - Director


SURCO LIMITED (REGISTERED NUMBER: 02664923)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

SURCO Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Going Concern
The financial statements have been prepared on the going concern basis as the trustees of the parent charitable company have confirmed that they will continue to provide support.

Turnover
Turnover represents the value of goods and services sold during the period, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

SURCO LIMITED (REGISTERED NUMBER: 02664923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Associates and joint ventures
An entity is treated as an associated undertaking where the company exercises significant influence in that it has the power to participate in the operating and financial policy decisions. An entity is treated as a joint venture where the company is party to a contractual agreement with one or more parties to undertake an economic activity that is subject to joint control.

As the company is not a parent undertaking, interests in associated undertakings and joint ventures are accounted for using the cost method of accounting, meaning that the investments are stated at cost less any impairments. Income from associates and joint ventures is accounted for when the company becomes unconditionally entitled to the receipt of income.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of the business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Employee benefits
(a) Wages and salaries and annual leave
Liabilities for wages and salaries and annual leave are recognised and are measured as the amount unpaid at the reporting date at current pay rates in respect of employees' services up to that date. They are expected to be settled within one year.

(b) Pensions
The company operates a defined contribution pension scheme. Contributions to this scheme are recognised in profit or loss in the period in which they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

SURCO LIMITED (REGISTERED NUMBER: 02664923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2022
and 28 February 2023 30,215
DEPRECIATION
At 1 March 2022 27,719
Charge for year 623
At 28 February 2023 28,342
NET BOOK VALUE
At 28 February 2023 1,873
At 28 February 2022 2,496

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 March 2022
and 28 February 2023 526
NET BOOK VALUE
At 28 February 2023 526
At 28 February 2022 526

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 20,798 25,266
Prepayments 1,831 1,667
22,629 26,933

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade creditors 6,690 802
Social security and other taxes 6,775 4,191
Amounts owed to parent undertaking 318,718 291,332
Other creditors 1,879 1,459
Accruals and deferred income 3,150 2,899
337,212 300,683

SURCO LIMITED (REGISTERED NUMBER: 02664923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
2 Ordinary £1 2 2

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

The Report of the Auditors was unqualified.

Michael Benson (Senior Statutory Auditor)
for and on behalf of Murray Smith LLP

10. CONTINGENT LIABILITIES

The company is a member of a Value Added Tax Group with Chartered Institution of Civil Engineering Surveyors. The VAT reclaimable by the group at the year end was £16,311 (2022: £6,441).

11. GOING CONCERN

The financial statements have been prepared on the going concern basis as the parent company has agreed to continue to provide support.