Registered number
08964007
Sundrax Ltd
Unaudited Filleted Accounts
31 March 2024
Sundrax Ltd
Registered number: 08964007
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 969 2,030
Current assets
Stocks 38,679 63,267
Debtors 4 131,463 271,679
Cash at bank and in hand - 4,770
170,142 339,716
Creditors: amounts falling due within one year 5 (319,713) (325,912)
Net current (liabilities)/assets (149,571) 13,804
Net (liabilities)/assets (148,602) 15,834
Capital and reserves
Called up share capital 100 100
Profit and loss account (148,702) 15,734
Shareholder's funds (148,602) 15,834
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 financial statements.
The financial statements 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.
The financial statements were approved and authorised for issue on:
Maria Bragina
Director
Signed on behalf of the board on 8 August 2024
Sundrax Ltd
Notes to the Accounts
for the year ended 31 March 2024
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:
Fixtures, fittings, tools and equipment over 4 years
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Fixture, fittings & equipment
£
Cost
At 1 April 2023 7,193
At 31 March 2024 7,193
Depreciation
At 1 April 2023 5,163
Charge for the year 1,061
At 31 March 2024 6,224
Net book value
At 31 March 2024 969
At 31 March 2023 2,030
4 Debtors 2024 2023
£ £
Trade debtors 128,229 266,014
Other debtors 3,234 5,665
131,463 271,679
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 81 -
Trade creditors 48,446 58,143
Taxation and social security costs 105,368 96,538
Accruals 5,120 5,500
Director's account 151,400 165,731
Other creditors 9,298 -
319,713 325,912
6 Other information
Sundrax Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2nd Floor
10-12 Bourlet Close
London
W1W 7BR
Sundrax Ltd 08964007 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2024 Maria Bragina No description of principal activity 08964007 2022-04-01 2023-03-31 08964007 core:WithinOneYear 2023-03-31 08964007 core:ShareCapital 2023-03-31 08964007 core:RetainedEarningsAccumulatedLosses 2023-03-31 08964007 2023-04-01 2024-03-31 08964007 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08964007 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08964007 bus:Director40 2023-04-01 2024-03-31 08964007 1 2023-04-01 2024-03-31 08964007 2 2023-04-01 2024-03-31 08964007 core:PlantMachinery 2023-04-01 2024-03-31 08964007 countries:England 2023-04-01 2024-03-31 08964007 bus:FRS102 2023-04-01 2024-03-31 08964007 bus:FilletedAccounts 2023-04-01 2024-03-31 08964007 2024-03-31 08964007 core:WithinOneYear 2024-03-31 08964007 core:ShareCapital 2024-03-31 08964007 core:RetainedEarningsAccumulatedLosses 2024-03-31 08964007 core:PlantMachinery 2024-03-31 08964007 2023-03-31 08964007 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure