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SUNTECHGADGET LIMITED

Registered Number
08297044
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

SUNTECHGADGET LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

U. Desai

Registered Address

Suite 111 Viglen House 368 Alperton Lane
Wembley
HA0 1HD

Place of Business

Unit 6, Manhattan Business Park

Westgate

Ealing

London

W5 1UP


Registered Number

08297044 (England and Wales)
SUNTECHGADGET LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets69,43110,649
9,43110,649
Current assets
Stocks7700,053750,000
Debtors1,158,623257,939
Cash at bank and on hand85,738234,916
1,944,4141,242,855
Creditors amounts falling due within one year9(1,364,028)(909,842)
Net current assets (liabilities)580,386333,013
Total assets less current liabilities589,817343,662
Creditors amounts falling due after one year10(481,580)(297,044)
Net assets108,23746,618
Capital and reserves
Called up share capital11
Profit and loss account108,23646,617
Shareholders' funds108,23746,618
The financial statements were approved and authorised for issue by the Director on 1 February 2024, and are signed on its behalf by:
U. Desai
Director
Registered Company No. 08297044
SUNTECHGADGET LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The company's principal activity during the year continued to be that of online retailers of food and beverage products.
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year119
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 December 2217,531
Additions1,140
At 30 November 2318,671
Depreciation and impairment
At 01 December 226,882
Charge for year2,358
At 30 November 239,240
Net book value
At 30 November 239,431
At 30 November 2210,649
7.Stocks

2023

2022

££
Finished goods700,053750,000
Total700,053750,000
8.Debtors within one year

2023

2022

££
Trade debtors / trade receivables912,592129,378
Other debtors239,953123,536
Prepayments and accrued income6,0785,025
Total1,158,623257,939
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables854,11840,809
Bank borrowings and overdrafts448,693809,591
Taxation and social security58,58939,800
Other creditors52918,393
Accrued liabilities and deferred income2,0991,249
Total1,364,028909,842
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts481,580297,044
Total481,580297,044