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14 March 2024
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No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
06231277
2023-01-01
2023-12-31
06231277
2023-12-31
06231277
2022-12-31
06231277
2022-01-01
2022-12-31
06231277
2022-12-31
06231277
core:FurnitureFittings
2023-01-01
2023-12-31
06231277
bus:Director2
2023-01-01
2023-12-31
06231277
bus:Director4
2023-01-01
2023-12-31
06231277
core:WithinOneYear
2023-12-31
06231277
core:WithinOneYear
2022-12-31
06231277
core:FurnitureFittings
2022-12-31
06231277
core:FurnitureFittings
2023-12-31
06231277
core:ShareCapital
2023-12-31
06231277
core:ShareCapital
2022-12-31
06231277
core:SharePremium
2023-12-31
06231277
core:SharePremium
2022-12-31
06231277
core:RetainedEarningsAccumulatedLosses
2023-12-31
06231277
core:RetainedEarningsAccumulatedLosses
2022-12-31
06231277
core:BetweenOneFiveYears
2023-12-31
06231277
core:FurnitureFittings
2022-12-31
06231277
bus:SmallEntities
2023-01-01
2023-12-31
06231277
bus:Audited
2023-01-01
2023-12-31
06231277
bus:FullAccounts
2023-01-01
2023-12-31
06231277
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2023-12-31
06231277
bus:PrivateLimitedCompanyLtd
2023-01-01
2023-12-31
06231277
core:PlantMachinery
2023-01-01
2023-12-31
06231277
core:PlantMachinery
2023-12-31
06231277
core:PlantMachinery
2022-12-31
COMPANY REGISTRATION NUMBER:
06231277
FILLETED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
31 December 2023
Fixed assets
Tangible assets |
5 |
|
25,872 |
30,927 |
|
|
|
|
|
Current assets
Stocks |
93,474 |
|
79,701 |
Debtors |
6 |
262,183 |
|
86,699 |
Cash at bank and in hand |
162,329 |
|
239,878 |
|
--------- |
|
--------- |
|
517,986 |
|
406,278 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
189,710 |
|
195,910 |
|
--------- |
|
--------- |
Net current assets |
|
328,276 |
210,368 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
354,148 |
241,295 |
|
|
--------- |
--------- |
Net assets |
|
354,148 |
241,295 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
35,000 |
35,000 |
Share premium account |
|
42,090 |
42,090 |
Profit and loss account |
|
277,058 |
164,205 |
|
|
--------- |
--------- |
Shareholder funds |
|
354,148 |
241,295 |
|
|
--------- |
--------- |
|
|
|
|
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 income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
14 March 2024
, and are signed on behalf of the board by:
Mr C S Meier |
Mr K Parker |
Director |
Director |
|
|
Company registration number:
06231277
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 DECEMBER 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 Hillside House, Dormston Trading Estate, Dudley, DY1 2UF.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of SUSPA Holding GmbH which can be obtained from them. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel
.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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 |
- |
33% straight line |
|
Equipment |
- |
15% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2022:
4
).
5.
Tangible assets
|
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 January 2023 and 31 December 2023 |
5,337 |
33,328 |
38,665 |
|
------- |
-------- |
-------- |
Depreciation |
|
|
|
At 1 January 2023 |
3,584 |
4,154 |
7,738 |
Charge for the year |
679 |
4,376 |
5,055 |
|
------- |
-------- |
-------- |
At 31 December 2023 |
4,263 |
8,530 |
12,793 |
|
------- |
-------- |
-------- |
Carrying amount |
|
|
|
At 31 December 2023 |
1,074 |
24,798 |
25,872 |
|
------- |
-------- |
-------- |
At 31 December 2022 |
1,753 |
29,174 |
30,927 |
|
------- |
-------- |
-------- |
|
|
|
|
6.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
247,958 |
72,992 |
Prepayments and accrued income |
9,725 |
9,207 |
Other debtors |
4,500 |
4,500 |
|
--------- |
-------- |
|
262,183 |
86,699 |
|
--------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
14,429 |
15,364 |
Amounts owed to group undertakings |
65,351 |
88,871 |
Accruals and deferred income |
23,751 |
21,931 |
Social security and other taxes |
85,560 |
69,147 |
Other creditors |
619 |
597 |
|
--------- |
--------- |
|
189,710 |
195,910 |
|
--------- |
--------- |
|
|
|
8.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2023 |
2022 |
|
£ |
£ |
Not later than 1 year |
26,927 |
20,675 |
Later than 1 year and not later than 5 years |
53,604 |
– |
|
-------- |
-------- |
|
80,531 |
20,675 |
|
-------- |
-------- |
|
|
|
9.
Summary audit opinion
The auditor's report for the year dated
14 March 2024
was
unqualified
.
The senior statutory auditor was
Dustin Grande
, for and on behalf of
Sawford Bullard
.
10.
Controlling party
The parent company of SUSPA UK Ltd is
SUSPA GmbH
and the ultimate parent of the group is SUSPA Holding GmbH
. Both companies are incorporated in Germany and the consolidated accounts of the group are available to the public upon request.