SUDDENSOURCE LIMITED

Company Registration Number:
03180129 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

SUDDENSOURCE LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 12

SUDDENSOURCE LIMITED

Company Information

for the Period Ended 31 March 2024




Director: Phillippa Walton
John Walton
Secretary: John Walton
Registered office: 1
Ambarrow Crescent
Sandhurst
Berkshire
GU47 8JA
Company Registration Number: 03180129 (England and Wales)

SUDDENSOURCE LIMITED

Directors' Report Period Ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal Activities

Software development and support.

Political and charitable donations

None.

Company policy on the employment of disabled persons

No disabled persons were employed during the period under review or the previous period.

Directors

The directors shown below have held office during the whole of the period from 01 April 2023 to 31 March 2024
Phillippa Walton
John Walton

Secretary
John Walton

This report was approved by the board of directors on 29 August 2024
And Signed On Behalf Of The Board By:

Name: Phillippa Walton
Status: Director

SUDDENSOURCE LIMITED

Profit and Loss Account

for the Period Ended 31 March 2024


Notes

2024
£

2023
£
Turnover 63,620 61,193
Cost of sales ( 2,667 ) ( 169 )
Gross Profit or (Loss) 60,953 61,024
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 14 ) ( 15 )
Administrative Expenses ( 55,092 ) ( 57,438 )
Operating Profit or (Loss) 5,847 3,571
Interest Receivable and Similar Income 545 100
Interest Payable and Similar Charges ( 0 ) ( 0 )
Profit or (Loss) Before Tax 6,392 3,671
Tax on Profit ( 2,924 ) ( 1,447 )
Profit or (Loss) for Period 3,468 2,224

The notes form part of these financial statements

SUDDENSOURCE LIMITED

Balance sheet

As at 31 March 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 5 0 0
Tangible assets: 6 297 1,756
Total fixed assets: 297 1,756
Current assets
Stocks: 0 0
Debtors: 7 3,587 5,175
Cash at bank and in hand: 66,723 65,217
Total current assets: 70,310 70,392
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 8 ( 8,559 ) ( 8,018 )
Net current assets (liabilities): 61,751 62,374
Total assets less current liabilities: 62,048 64,130
Creditors: amounts falling due after more than one year: 9 ( 0 ) ( 0 )
Provision for liabilities: ( 0 ) ( 0 )
Accruals and deferred income: ( 26,619 ) ( 24,975 )
Total net assets (liabilities): 35,429 39,155

The notes form part of these financial statements

SUDDENSOURCE LIMITED

Balance sheet continued

As at 31 March 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 90 90
Revaluation reserve: 10 9,915 9,915
Profit and loss account: 25,424 29,150
Shareholders funds: 35,429 39,155

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 29 August 2024
And Signed On Behalf Of The Board By:

Name: Phillippa Walton
Status: Director

The notes form part of these financial statements

SUDDENSOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the total invoice value, excluding value added tax, of goods sold and services rendered during the period.

    Tangible fixed assets depreciation policy

    Depreciation of tangible assets is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
    Office Accommodation (semi-permanent buildings) over 10 years.
    IT Equipment over 3-5 years depending on expected useful life
    Accounting software over 10 years.

    Intangible fixed assets amortisation policy

    Intangible fixed assets (including IPR, purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstance indicate that the carrying value of an asset may not be fully recoverable.

SUDDENSOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 2 2

SUDDENSOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 3. Off balance sheet disclosure

    No

SUDDENSOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Dividends


2024
£

2023
£
Dividends paid 7,200 7,200

SUDDENSOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Intangible assets

Other Total
Cost £ £
At 01 April 2023 15,000 15,000
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 March 2024 15,000 15,000
Amortisation
Amortisation at 01 April 2023 15,000 15,000
Charge for year - -
On disposals - -
Other adjustments - -
Amortisation at 31 March 2024 15,000 15,000
Net book value
Net book value at 31 March 2024 0 0
Net book value at 31 March 2023 0 0

SUDDENSOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Tangible assets

Fixtures & fittings Office equipment Total
Cost £ £ £
At 01 April 2023 26,190 - 26,190
Additions - - -
Disposals - - -
Revaluations 132 - 132
Transfers - - -
At 31 March 2024 26,322 - 26,322
Depreciation
At 01 April 2023 24,434 - 24,434
Charge for year 1,459 - 1,459
On disposals - - -
Other adjustments 132 - 132
At 31 March 2024 26,025 - 26,025
Net book value
At 31 March 2024 297 - 297
At 31 March 2023 1,756 - 1,756

SUDDENSOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Debtors


2024
£

2023
£
Trade debtors 3,543 5,175
Prepayments and accrued income 0 0
Other debtors 44 0
Total 3,587 5,175
Debtors due after more than one year: 0 0

SUDDENSOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

8.Creditors: amounts falling due within one year note


2024
£

2023
£
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 300
Taxation and social security 8,559 7,718
Accruals and deferred income 0 0
Other creditors 0 0
Total 8,559 8,018

SUDDENSOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

9.Creditors: amounts falling due after more than one year


2024
£

2023
£
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Other creditors 0 0
Total 0 0

SUDDENSOURCE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

10. Revaluation reserve


2024
£
Balance at 01 April 2023 9,915
Surplus or deficit after revaluation 0
Balance at 31 March 2024 9,915