Registered number
07594152
SUGARHOUSE (LEEDS) LIMITED
Filleted Accounts
30 June 2023
SUGARHOUSE (LEEDS) LIMITED
Registered number: 07594152
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 20,000 25,000
Tangible assets 4 32,737 37,742
52,737 62,742
Current assets
Stocks 4,500 3,738
Debtors 5 749,988 444,998
Cash at bank and in hand 1,845,321 1,775,964
2,599,809 2,224,700
Creditors: amounts falling due within one year 6 (1,966,335) (1,970,714)
Net current assets 633,474 253,986
Total assets less current liabilities 686,211 316,728
Provisions for liabilities (8,184) (6,027)
Net assets 678,027 310,701
Capital and reserves
Called up share capital 100 100
Profit and loss account 677,927 310,601
Shareholders' funds 678,027 310,701
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C M Aston
Director
Approved by the board on 12 December 2023
SUGARHOUSE (LEEDS) LIMITED
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 19 18
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2022 50,000
At 30 June 2023 50,000
Amortisation
At 1 July 2022 25,000
Provided during the year 5,000
At 30 June 2023 30,000
Net book value
At 30 June 2023 20,000
At 30 June 2022 25,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2022 69,269 28,683 97,952
Additions 5,909 - 5,909
At 30 June 2023 75,178 28,683 103,861
Depreciation
At 1 July 2022 46,261 13,949 60,210
Charge for the year 7,230 3,684 10,914
At 30 June 2023 53,491 17,633 71,124
Net book value
At 30 June 2023 21,687 11,050 32,737
At 30 June 2022 23,008 14,734 37,742
5 Debtors 2023 2022
£ £
Trade debtors 38,657 30,642
Amounts owed by group undertakings and undertakings in which the company has a participating interest 701,176 401,971
Other debtors 10,155 12,385
749,988 444,998
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 17,675 6,233
Amounts owed to group undertakings and undertakings in which the company has a participating interest 360 965
Taxation and social security costs 140,393 89,380
Other creditors 1,807,907 1,874,136
1,966,335 1,970,714
7 Related party transactions 2023 2022
£ £
At 30 June 2023 the following amounts were shown due from/(to) the following related parties:
The Sugarhouse Group Limited 701,176 401,176
Flexi Bill Ltd (360) (965)
Vivre Developments Ltd - 795
During the year management fees amounting to £30,000 (2022:£25,000) were paid to The Sugarhouse Group Limited.
C M Aston and R A Napier are directors and shareholders of all the companies shown above.
8 Ultimate holding company
The directors consider The Sugarhouse Group Limited to be the ultimate parent company.
9 Controlling party
The company is controlled by the directors. No sole director has overall control of the company.
10 Other information
SUGARHOUSE (LEEDS) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Ground Floor
Richmond House
47 Headingley Lane
Leeds
LS6 1DP
SUGARHOUSE (LEEDS) LIMITED 07594152 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts October 2023 release 2 C M Aston No description of principal activity 07594152 2021-07-01 2022-06-30 07594152 core:WithinOneYear 2022-06-30 07594152 core:ShareCapital 2022-06-30 07594152 core:RetainedEarningsAccumulatedLosses 2022-06-30 07594152 2022-07-01 2023-06-30 07594152 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07594152 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 07594152 bus:Director40 2022-07-01 2023-06-30 07594152 1 2022-07-01 2023-06-30 07594152 2 2022-07-01 2023-06-30 07594152 core:Goodwill 2022-07-01 2023-06-30 07594152 core:PlantMachinery 2022-07-01 2023-06-30 07594152 core:Vehicles 2022-07-01 2023-06-30 07594152 countries:England 2022-07-01 2023-06-30 07594152 bus:FRS102 2022-07-01 2023-06-30 07594152 bus:FullAccounts 2022-07-01 2023-06-30 07594152 2023-06-30 07594152 core:WithinOneYear 2023-06-30 07594152 core:ShareCapital 2023-06-30 07594152 core:RetainedEarningsAccumulatedLosses 2023-06-30 07594152 core:Goodwill 2023-06-30 07594152 core:PlantMachinery 2023-06-30 07594152 core:Vehicles 2023-06-30 07594152 2022-06-30 07594152 core:Goodwill 2022-06-30 07594152 core:PlantMachinery 2022-06-30 07594152 core:Vehicles 2022-06-30 iso4217:GBP xbrli:pure