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Registration number: 04038974

Sutton Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Sutton Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Sutton Services Limited

Company Information

Director

Mr Glenn Sutton

Company secretary

Mrs Carole Ann Lucas

Registered office

83 Undley Road
Lakenheath
Brandon
Suffolk
IP27 9BY

Accountants

Jacobs Allen Limited
Chartered Accountants & Chartered Tax Advisers
59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB

 

Sutton Services Limited

(Registration number: 04038974)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,284,643

1,361,647

Current assets

 

Debtors

5

155,828

172,100

Cash at bank and in hand

 

108,702

165,405

 

264,530

337,505

Creditors: Amounts falling due within one year

6

(281,586)

(295,223)

Net current (liabilities)/assets

 

(17,056)

42,282

Total assets less current liabilities

 

1,267,587

1,403,929

Creditors: Amounts falling due after more than one year

6

-

(8,333)

Net assets

 

1,267,587

1,395,596

Capital and reserves

 

Called up share capital

8

600

600

Retained earnings

1,266,987

1,394,996

Shareholders' funds

 

1,267,587

1,395,596

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 4 March 2024
 

.........................................
Mr Glenn Sutton
Director

 

Sutton Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
83 Undley Road
Lakenheath
Brandon
Suffolk
IP27 9BY
United Kingdom

These financial statements were authorised for issue by the director on 4 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisenbut not reversed by the balance sheet date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Sutton Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% straight line

Plant and machinery

25% written down value

Motor vehicles

25% written down value

Office equipment

25% written down value

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 business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Sutton Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2022 - 14).

 

Sutton Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2022

1,101,884

24,007

185,620

1,046,440

2,357,951

Additions

-

-

-

4,300

4,300

Disposals

-

(1,848)

(16,250)

(22,131)

(40,229)

At 31 August 2023

1,101,884

22,159

169,370

1,028,609

2,322,022

Depreciation

At 1 September 2022

24,996

17,716

157,473

796,119

996,304

Charge for the year

6,918

3,203

7,036

63,669

80,826

Eliminated on disposal

-

(1,848)

(16,250)

(21,653)

(39,751)

At 31 August 2023

31,914

19,071

148,259

838,135

1,037,379

Carrying amount

At 31 August 2023

1,069,970

3,088

21,111

190,474

1,284,643

At 31 August 2022

1,076,888

6,291

28,147

250,321

1,361,647

Included within the net book value of land and buildings above is £1,069,970 (2022 - £1,076,888) in respect of freehold land and buildings.
 

 

Sutton Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

120,805

118,513

Prepayments

35,023

39,220

Other debtors

-

14,367

 

155,828

172,100

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

8,333

10,000

Trade creditors

 

45,746

67,273

Taxation and social security

 

19,519

19,958

Other creditors

 

207,988

197,992

 

281,586

295,223

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

-

8,333

7

Related party transactions

Other transactions with directors

The director has provided an interest free loan to the company in the sum of £203,342 (2022: £193,339). The loan is repayable on demand.

 

Sutton Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

500

500

500

500

 

600

600

600

600

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

8,333

2023
£

2022
£

Current loans and borrowings

Bank borrowings

8,333

10,000