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REGISTERED NUMBER: 06939343 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

THE SWEET TOOTH COMPANY LTD

THE SWEET TOOTH COMPANY LTD (REGISTERED NUMBER: 06939343)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THE SWEET TOOTH COMPANY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mrs A O Oyeledun
O Oyeledun





REGISTERED OFFICE: Flat 9 Jenner Court
4 Lingard Avenue
London
NW9 5XQ





REGISTERED NUMBER: 06939343 (England and Wales)





ACCOUNTANTS: Lucentum Business Services Ltd
Beckwith Barn
Warren Estate
Lordship Road
Chelmsford
Essex
CM1 3WT

THE SWEET TOOTH COMPANY LTD (REGISTERED NUMBER: 06939343)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 3,974 4,969
3,974 4,969

CURRENT ASSETS
Stocks 6,424 5,432
Debtors 7 490,936 1,175,502
Cash at bank and in hand 592,113 429,371
1,089,473 1,610,305
CREDITORS
Amounts falling due within one year 8 89,307 729,133
NET CURRENT ASSETS 1,000,166 881,172
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,004,140

886,141

CREDITORS
Amounts falling due after more than one
year

9

31,820

37,011
NET ASSETS 972,320 849,130

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 972,220 849,030
SHAREHOLDERS' FUNDS 972,320 849,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE SWEET TOOTH COMPANY LTD (REGISTERED NUMBER: 06939343)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





Mrs A O Oyeledun - Director


THE SWEET TOOTH COMPANY LTD (REGISTERED NUMBER: 06939343)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

The Sweet Tooth Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Monetary amounts in the financial statements have been rounded to the nearest whole £.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise Licence are being amortised evenly over their estimated useful life of nil years.

Franchise licenses
Franchise licences are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal instalments over their estimated useful lives of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Fixtures and fittings - 20% on reducing balance
Office equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition
of financial assets and liabilities like trade and other accounts receivable and payable, loans from
banks and other third parties, loans to related parties and investments in non-puttable ordinary
shares.

Financial assets and liabilities are offset and the net amount reported in the statement of financial
position when there is an enforceable right to set off the recognised amounts and there is an
intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


THE SWEET TOOTH COMPANY LTD (REGISTERED NUMBER: 06939343)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 12 ) .

5. INTANGIBLE FIXED ASSETS
Franchise
Licence
£   
COST
At 1 December 2022
and 30 November 2023 14,500
AMORTISATION
At 1 December 2022
and 30 November 2023 14,500
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures
Short and Office
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 December 2022
and 30 November 2023 43,621 62,525 4,930 111,076
DEPRECIATION
At 1 December 2022 43,621 58,688 3,798 106,107
Charge for year - 769 226 995
At 30 November 2023 43,621 59,457 4,024 107,102
NET BOOK VALUE
At 30 November 2023 - 3,068 906 3,974
At 30 November 2022 - 3,837 1,132 4,969

THE SWEET TOOTH COMPANY LTD (REGISTERED NUMBER: 06939343)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 28,691 26,491
Directors' loan accounts 341,706 864,905
Tax 108,713 268,013
VAT 1,570 10,593
Prepayments and accrued income 7,456 5,500
488,136 1,175,502

Amounts falling due after more than one year:
Other debtors 2,800 -

Aggregate amounts 490,936 1,175,502

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,192 5,193
Trade creditors 19,801 35,629
Tax 56,298 677,429
Social security and other taxes 14 -
Other creditors 4,612 4,692
Accrued expenses 3,390 6,190
89,307 729,133

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,455 5,324
Bank loans - 2-5 years 17,206 16,793
Bank loans more 5 yr by instal 9,159 14,894
31,820 37,011

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,159 14,894

THE SWEET TOOTH COMPANY LTD (REGISTERED NUMBER: 06939343)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Mrs A O Oyeledun and O Oyeledun
Balance outstanding at start of year 864,905 934,495
Amounts advanced 17,804 12,410
Amounts repaid (541,003 ) (82,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 341,706 864,905

Loans to directors over £10,000 are charged interest at the HMRC approved rate.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is Providentiel Holdings Limited by virtue of its 100% shareholding in the company.