Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31No description of principal activity452022-09-01false55falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10904440 2022-09-01 2023-08-31 10904440 2021-09-01 2022-08-31 10904440 2023-08-31 10904440 2022-08-31 10904440 c:Director1 2022-09-01 2023-08-31 10904440 c:Director2 2022-09-01 2023-08-31 10904440 d:Buildings d:ShortLeaseholdAssets 2022-09-01 2023-08-31 10904440 d:Buildings d:ShortLeaseholdAssets 2023-08-31 10904440 d:Buildings d:ShortLeaseholdAssets 2022-08-31 10904440 d:PlantMachinery 2022-09-01 2023-08-31 10904440 d:PlantMachinery 2023-08-31 10904440 d:PlantMachinery 2022-08-31 10904440 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10904440 d:FurnitureFittings 2022-09-01 2023-08-31 10904440 d:FurnitureFittings 2023-08-31 10904440 d:FurnitureFittings 2022-08-31 10904440 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10904440 d:ComputerEquipment 2022-09-01 2023-08-31 10904440 d:ComputerEquipment 2023-08-31 10904440 d:ComputerEquipment 2022-08-31 10904440 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10904440 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10904440 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-08-31 10904440 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-08-31 10904440 d:CurrentFinancialInstruments 2023-08-31 10904440 d:CurrentFinancialInstruments 2022-08-31 10904440 d:Non-currentFinancialInstruments 2023-08-31 10904440 d:Non-currentFinancialInstruments 2022-08-31 10904440 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10904440 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 10904440 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 10904440 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 10904440 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 10904440 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 10904440 d:ShareCapital 2023-08-31 10904440 d:ShareCapital 2022-08-31 10904440 d:SharePremium 2023-08-31 10904440 d:SharePremium 2022-08-31 10904440 d:RetainedEarningsAccumulatedLosses 2023-08-31 10904440 d:RetainedEarningsAccumulatedLosses 2022-08-31 10904440 c:OrdinaryShareClass1 2022-09-01 2023-08-31 10904440 c:OrdinaryShareClass1 2023-08-31 10904440 c:OrdinaryShareClass1 2022-08-31 10904440 c:OrdinaryShareClass2 2022-09-01 2023-08-31 10904440 c:OrdinaryShareClass2 2023-08-31 10904440 c:OrdinaryShareClass2 2022-08-31 10904440 c:OrdinaryShareClass3 2022-09-01 2023-08-31 10904440 c:OrdinaryShareClass3 2023-08-31 10904440 c:OrdinaryShareClass3 2022-08-31 10904440 c:FRS102 2022-09-01 2023-08-31 10904440 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 10904440 c:FullAccounts 2022-09-01 2023-08-31 10904440 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10904440 d:CopyrightsPatentsTrademarksServiceOperatingRights d:ExternallyAcquiredIntangibleAssets 2022-09-01 2023-08-31 10904440 2 2022-09-01 2023-08-31 10904440 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2022-09-01 2023-08-31 10904440 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10904440









SUSHIDOG LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
SUSHIDOG LIMITED
REGISTERED NUMBER: 10904440

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
44,899
20,981

Tangible assets
 5 
893,301
434,427

  
938,200
455,408

Current assets
  

Stocks
 6 
23,984
-

Debtors: amounts falling due within one year
 7 
391,777
163,545

Cash at bank and in hand
 8 
475,451
317,429

  
891,212
480,974

Creditors: amounts falling due within one year
 9 
(574,222)
(309,680)

Net current assets
  
 
 
316,990
 
 
171,294

Total assets less current liabilities
  
1,255,190
626,702

Creditors: amounts falling due after more than one year
 10 
(186,456)
(222,722)

  

Net assets
  
1,068,734
403,980


Capital and reserves
  

Called up share capital 
  
27,038
23,451

Share premium account
  
911,012
302,611

Profit and loss account
  
130,684
77,918

  
1,068,734
403,980


Page 1

 
SUSHIDOG LIMITED
REGISTERED NUMBER: 10904440
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N Goldstein
G Ilsen
Director
Director


Date: 30 August 2024
Date: 30 August 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
SUSHIDOG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Sushidog Limited is a private company limited by shares and incorporated in England and Wales (registered number (10904440). The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SUSHIDOG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
SUSHIDOG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
5%
Plant and machinery
-
20%
Fixtures and fittings
-
20%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
SUSHIDOG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Page 6

 
SUSHIDOG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 55 (2022 - 45).

Page 7

 
SUSHIDOG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Intangible assets



Branding

£



Cost


At 1 September 2022
24,520


Additions
26,760



At 31 August 2023

51,280



Amortisation


At 1 September 2022
3,539


Charge for the year on owned assets
2,842



At 31 August 2023

6,381



Net book value



At 31 August 2023
44,899



Page 8

 
SUSHIDOG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 September 2022
141,392
-
538,641
14,328
694,361


Additions
172,166
95,167
292,557
14,163
574,053



At 31 August 2023

313,558
95,167
831,198
28,491
1,268,414



Depreciation


At 1 September 2022
17,707
-
238,151
4,076
259,934


Charge for the year on owned assets
13,243
1,674
95,756
4,506
115,179



At 31 August 2023

30,950
1,674
333,907
8,582
375,113



Net book value



At 31 August 2023
282,608
93,493
497,291
19,909
893,301


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
23,984
-

23,984
-



7.


Debtors

2023
2022
£
£


Trade debtors
-
46,559

Other debtors
319,974
87,660

Prepayments and accrued income
71,803
29,326

391,777
163,545


Page 9

 
SUSHIDOG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
475,451
317,429

475,451
317,429



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
116,128
89,915

Trade creditors
186,520
150,240

Other taxation and social security
31,103
11,995

Other creditors
25,918
31,509

Accruals and deferred income
214,553
26,021

574,222
309,680



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
186,456
222,722

186,456
222,722


Page 10

 
SUSHIDOG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
116,128
89,915


116,128
89,915

Amounts falling due 1-2 years

Bank loans
186,456
222,722


186,456
222,722



302,584
312,637



12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2,566,733 (2022 - 2,208,023) Ordinary shares shares of £0.01 each
25,667
22,080
137,109 (2022 - 137,109) Ordinary B Shares shares of £0.01 each
1,371
1,371
2 (2022 - 2) Ordinary D Shares shares of £0.01 each
-
-

27,038

23,451


During the year the company issued 358,710 Ordinary shares of £0.01 each at a premium of £1.69608 per share.

 
Page 11