Registered number
09140270
St Sushi Limited
Filleted Accounts
31 July 2023
St Sushi Limited
Registered number: 09140270
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,297 21,730
Current assets
Stocks 2,300 2,210
Debtors 4 358,663 358,045
Cash at bank and in hand 2,308 7,172
363,271 367,427
Creditors: amounts falling due within one year 5 (113,199) (119,996)
Net current assets 250,072 247,431
Total assets less current liabilities 266,369 269,161
Creditors: amounts falling due after more than one year 6 (18,331) (28,283)
Provisions for liabilities (2,783) (2,932)
Net assets 245,255 237,946
Capital and reserves
Called up share capital 103 101
Profit and loss account 245,152 237,845
Shareholder's funds 245,255 237,946
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
K Lee
Director
Approved by the board on 27 March 2024
St Sushi Limited
Notes to the Accounts
for the year ended 31 July 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 14 14
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 40,000 77,094 117,094
At 31 July 2023 40,000 77,094 117,094
Depreciation
At 1 August 2022 40,000 55,364 95,364
Charge for the year - 5,433 5,433
At 31 July 2023 40,000 60,797 100,797
Net book value
At 31 July 2023 - 16,297 16,297
At 31 July 2022 - 21,730 21,730
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 358,045 358,045
Other debtors 618 -
358,663 358,045
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,001 10,848
Trade creditors 24,341 25,442
Director's Loan Account 688 6,005
Taxation and social security costs 42,681 44,594
Other creditors 35,488 33,107
113,199 119,996
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,331 28,283
7 Other information
St Sushi Limited is a private company limited by shares and incorporated in England. Its registered office is:
B3 Kingfisher House
Team Valley
Gateshead
Tyne & Wear
NE11 0JQ
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