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COMPANY REGISTRATION NUMBER: 13183139
Sunkenduck Limited
Unaudited financial statements
30 June 2023
Sunkenduck Limited
Statement of financial position
30 June 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
359,241
362,958
Current assets
Debtors
6
231
Cash at bank and in hand
13,436
7,145
-------
------
13,667
7,145
Creditors: Amounts falling due within one year
7
( 372,400)
( 363,676)
---------
---------
Net current liabilities
( 358,733)
( 356,531)
---------
---------
Total assets less current liabilities
508
6,427
Provisions
Taxation including deferred tax
( 242)
----
------
Net assets
508
6,185
----
------
Capital and reserves
Called up share capital
2
2
Profit and loss account
506
6,183
----
------
Shareholders funds
508
6,185
----
------
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 comprehensive income has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Sunkenduck Limited
Statement of financial position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 2 February 2024 , and are signed on behalf of the board by:
D Evans
Director
Company registration number: 13183139
Sunkenduck Limited
Notes to the financial statements
Year ended 30 June 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 First Floor Suite, 2 Hillside Business Park, Bury st. Edmunds, Suffolk, IP32 7EA. The trading address of the company is Burnt House, Lamarsh Road, Alphamstone, Bures, Suffolk, CO8 5HR.
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.
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
15% reducing balance
4. Employee numbers
The average number of employees during the year was 1 (2022: 1 ).
5. Tangible assets
Investment property
Fixtures and fittings
Total
£
£
£
Cost or valuation
At 1 July 2022
352,087
11,923
364,010
Revaluations
( 2,087)
( 2,087)
---------
-------
---------
At 30 June 2023
350,000
11,923
361,923
---------
-------
---------
Depreciation
At 1 July 2022
1,052
1,052
Charge for the year
1,630
1,630
---------
-------
---------
At 30 June 2023
2,682
2,682
---------
-------
---------
Carrying amount
At 30 June 2023
350,000
9,241
359,241
---------
-------
---------
At 30 June 2022
352,087
10,871
362,958
---------
-------
---------
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Investment property
£
At 30 June 2023
Aggregate cost
352,087
Aggregate depreciation
---------
Carrying value
352,087
---------
At 30 June 2022
Aggregate cost
352,087
Aggregate depreciation
---------
Carrying value
352,087
---------
6. Debtors
2023
2022
£
£
Other debtors
231
----
----
7. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
480
Other creditors
371,920
363,676
---------
---------
372,400
363,676
---------
---------