Registered number
12659557
THE SUGARHOUSE GROUP LIMITED
Filleted Accounts
30 June 2023
THE SUGARHOUSE GROUP LIMITED
Registered number: 12659557
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 300 300
Current assets
Debtors 4 2,100,214 1,939,297
Cash at bank and in hand 273,899 143,898
2,374,113 2,083,195
Creditors: amounts falling due within one year 5 (872,076) (471,875)
Net current assets 1,502,037 1,611,320
Net assets 1,502,337 1,611,620
Capital and reserves
Called up share capital 200 200
Profit and loss account 1,502,137 1,611,420
Shareholders' funds 1,502,337 1,611,620
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
THE SUGARHOUSE GROUP 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 July 2022 300
At 30 June 2023 300
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,079,297 1,939,297
Other debtors 20,917 -
2,100,214 1,939,297
5 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 871,176 471,175
Other creditors 900 700
872,076 471,875
6 Related party transactions 2023 2022
£ £
At 30 June 2023 the company had made the following loans to related parties, included in debtors
Vivre Homes Ltd 158,012 158,012
Vivre Homes 2 Ltd 1,921,285 1,781,285
C M Aston and R A Napier are both directors and shareholders of Vivtre Developments Ltd, Vivre Homes Ltd and Vivre Homes 2 Ltd.
At 30 June 2023 the company had borrowed the following amounts from related parties included in creditors.
Sugarhouse (Leeds) Ltd 701,176 401,175
Flexi Bill Ltd 170,000 70,000
Sugarhouse (Leeds) Ltd and Flexi Bill Ltd are wholly owned subsidiaries of The Sugarhouse Group Ltd.
During the year Sugarhouse Group Ltd received £30,000. (2022:£25,000) in respect of services provided to Suarhouse (Leeds) Ltd
7 Controlling party
The company is owned and controlled by the directors. No single director has control.
8 Other information
THE SUGARHOUSE GROUP LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Ground Floor, Richmond House
47 Headingley Lane
Leeds
West Yorkshire
LS6 1DP
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