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COMPANY REGISTRATION NUMBER: 06231277
SUSPA UK LTD
FILLETED FINANCIAL STATEMENTS
31 December 2023
SUSPA UK LTD
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
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
SUSPA UK LTD
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.