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Company No: 12118414 (England and Wales)

FAMILY SUTTON SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

FAMILY SUTTON SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

FAMILY SUTTON SOLUTIONS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
FAMILY SUTTON SOLUTIONS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr B Sutton
Mr P C Sutton
REGISTERED OFFICE Whitestone Farmhouse
Cornworthy
Totnes
Devon
TQ9 7HF
United Kingdom
COMPANY NUMBER 12118414 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
FAMILY SUTTON SOLUTIONS LIMITED

BALANCE SHEET

As at 31 December 2023
FAMILY SUTTON SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Current assets
Stocks 3 855,131 744,414
Debtors 4 421 980
Cash at bank and in hand 10,440 93,432
865,992 838,826
Creditors: amounts falling due within one year 5 ( 881,841) ( 852,242)
Net current liabilities (15,849) (13,416)
Total assets less current liabilities (15,849) (13,416)
Net liabilities ( 15,849) ( 13,416)
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account ( 15,851 ) ( 13,418 )
Total shareholders' deficit ( 15,849) ( 13,416)

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

Directors' responsibilities:

The financial statements of Family Sutton Solutions Limited (registered number: 12118414) were approved and authorised for issue by the Board of Directors on 06 February 2024. They were signed on its behalf by:

Mr P C Sutton
Director
FAMILY SUTTON SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
FAMILY SUTTON SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Family Sutton Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Whitestone Farmhouse, Cornworthy, Totnes, Devon, TQ9 7HF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The balance sheet reflects a deficiency of assets totalling £15,849 (2022: £13,416) and the company remains dependent upon the financial support provided by the directors. The directors have confirmed that this support will continue for at least one year from the balance sheet date, therefore the accounts have been prepared on a going concern basis.

Turnover

Turnover represents income recognised on the completion of property sales, net of any applicable Value Added Tax. The company recognises turnover when turnover can be reliably measured.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their condition.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Stocks

2023 2022
£ £
Work in progress 855,131 744,414

4. Debtors

2023 2022
£ £
Other debtors 421 980

5. Creditors: amounts falling due within one year

2023 2022
£ £
Accruals 1,999 2,400
Other creditors 879,842 849,842
881,841 852,242

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2