Insuppa Trading International Limited 07715153 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the provision of catering facilities Digita Accounts Production Advanced 6.30.9574.0 true false true 07715153 2023-01-01 2023-12-31 07715153 2023-12-31 07715153 bus:OrdinaryShareClass1 2023-12-31 07715153 core:CurrentFinancialInstruments 2023-12-31 07715153 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07715153 core:Non-currentFinancialInstruments 2023-12-31 07715153 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 07715153 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 07715153 core:OtherResidualIntangibleAssets 2023-12-31 07715153 core:FurnitureFittingsToolsEquipment 2023-12-31 07715153 core:MotorVehicles 2023-12-31 07715153 core:OtherPropertyPlantEquipment 2023-12-31 07715153 1 2023-12-31 07715153 bus:SmallEntities 2023-01-01 2023-12-31 07715153 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07715153 bus:FilletedAccounts 2023-01-01 2023-12-31 07715153 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07715153 bus:RegisteredOffice 2023-01-01 2023-12-31 07715153 bus:Director1 2023-01-01 2023-12-31 07715153 bus:Director2 2023-01-01 2023-12-31 07715153 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 07715153 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07715153 core:ComputerSoftware 2023-01-01 2023-12-31 07715153 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 07715153 core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 07715153 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 07715153 core:MotorVehicles 2023-01-01 2023-12-31 07715153 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 07715153 core:PlantMachinery 2023-01-01 2023-12-31 07715153 core:ParentEntities 2023-01-01 2023-12-31 07715153 1 2023-01-01 2023-12-31 07715153 countries:England 2023-01-01 2023-12-31 07715153 1 2023-01-01 2023-12-31 07715153 2022-12-31 07715153 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 07715153 core:OtherResidualIntangibleAssets 2022-12-31 07715153 core:FurnitureFittingsToolsEquipment 2022-12-31 07715153 core:MotorVehicles 2022-12-31 07715153 core:OtherPropertyPlantEquipment 2022-12-31 07715153 1 2022-12-31 07715153 2022-01-01 2022-12-31 07715153 2022-12-31 07715153 bus:OrdinaryShareClass1 2022-12-31 07715153 core:CurrentFinancialInstruments 2022-12-31 07715153 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 07715153 core:Non-currentFinancialInstruments 2022-12-31 07715153 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 07715153 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 07715153 core:OtherResidualIntangibleAssets 2022-12-31 07715153 core:FurnitureFittingsToolsEquipment 2022-12-31 07715153 core:MotorVehicles 2022-12-31 07715153 core:OtherPropertyPlantEquipment 2022-12-31 07715153 1 2022-12-31 07715153 1 2022-01-01 2022-12-31 07715153 1 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07715153

Insuppa Trading International Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Insuppa Trading International Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Insuppa Trading International Limited

Company Information

Directors

Insuppa Ltd

Mr I Beyaz

Registered office

58 Kinson Road
Wallisdown
Bournemouth
Dorset
BH10 4AN

Accountants

Harney & Co Limited
Chartered Certified Accountants
58 Kinson Road
Bournemouth
Dorset
BH10 4AN

 

Insuppa Trading International Limited

(Registration number: 07715153)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

1,967

3,854

Tangible assets

5

34,487

34,788

 

36,454

38,642

Current assets

 

Stocks

6

300,000

453,000

Debtors

7

46,013

316,347

 

346,013

769,347

Creditors: Amounts falling due within one year

8

(536,701)

(446,231)

Net current (liabilities)/assets

 

(190,688)

323,116

Total assets less current liabilities

 

(154,234)

361,758

Creditors: Amounts falling due after more than one year

8

(53,811)

(78,660)

Net (liabilities)/assets

 

(208,045)

283,098

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(208,145)

282,998

Shareholders' (deficit)/funds

 

(208,045)

283,098

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 August 2024 and signed on its behalf by:
 

 

Insuppa Trading International Limited

(Registration number: 07715153)
Balance Sheet as at 31 December 2023 (continued)

.........................................
Mr I Beyaz
Director

 

Insuppa Trading International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
58 Kinson Road
Wallisdown
Bournemouth
Dorset
BH10 4AN
UK

The principal place of business is:
Bournemouth International Airport
Unit 3 Brackley Close
Christchurch
Dorset
BH23 6SE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

As set out in the Directors' Report, the directors have reviewed the company's ability to continue as a going concern and are of the opinion that the company has access to sufficient funds to continue as a going concern for the foreseeable futute, and have prepared financial statements on this basis.

 

Insuppa Trading International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery etc

25% on reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Computer software etc

20% on a straight line basis

 

Insuppa Trading International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently at transaction prise less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Insuppa Trading International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

The company has basic financial instruments which are classified, measured and accounted for according to the substance of the contractual arrangement, as financial assets or financial liabilities. The company has not entered into any complex financial instruments.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022: 3).

 

Insuppa Trading International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Intangible assets

Website
 £

Trade marks
 £

Total
£

Cost or valuation

At 1 January 2023

9,335

200

9,535

At 31 December 2023

9,335

200

9,535

Amortisation

At 1 January 2023

5,601

80

5,681

Amortisation charge

1,867

20

1,887

At 31 December 2023

7,468

100

7,568

Carrying amount

At 31 December 2023

1,867

100

1,967

At 31 December 2022

3,734

120

3,854

The above Website costs comprises internally generated development costs.

 

Insuppa Trading International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

62,119

-

11,599

73,718

Additions

1,014

20,194

-

21,208

Disposals

(18,002)

-

-

(18,002)

At 31 December 2023

45,131

20,194

11,599

76,924

Depreciation

At 1 January 2023

31,955

-

6,975

38,930

Charge for the year

4,591

3,156

1,157

8,904

Eliminated on disposal

(5,397)

-

-

(5,397)

At 31 December 2023

31,149

3,156

8,132

42,437

Carrying amount

At 31 December 2023

13,982

17,038

3,467

34,487

At 31 December 2022

30,164

-

4,624

34,788

 

Insuppa Trading International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6

Stocks

2023
£

2022
£

Other inventories

300,000

453,000

7

Debtors

Current

2023
£

2022
£

Trade debtors

1,735

-

Prepayments

-

9,648

Other debtors

44,278

306,699

 

46,013

316,347

 

Insuppa Trading International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

101,211

101,309

Trade creditors

 

228,688

161,948

Taxation and social security

 

61,197

54,618

Accruals and deferred income

 

21,948

15,203

Other creditors

 

123,657

113,153

 

536,701

446,231

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

53,811

78,660

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Insuppa Trading International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

10

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

44,129

78,660

HP and finance lease liability 1 (1-2 yrs)

9,682

-

53,811

78,660

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

24,725

24,413

Other borrowings

70,873

76,896

HP and finance lease liability 1 (under 1yr)

5,613

-

101,211

101,309

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2022: £13,500).

12

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Repayments by director
£

At 31 December 2023
£

Transactions ensued during the year

17,344

(17,344)

-

 

 

Insuppa Trading International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

12

Related party transactions (continued)

2022

At 1 January 2022
£

Repayments by director
£

At 31 December 2022
£

Transactions ensued during the year

35,937

(18,593)

17,344

 

Interest was charged on the overdrawn directors' loan accounts at the official rate.

Transactions with parent company

During the year the company made sales totalling £437,990 to its parent company, Insuppa Ltd.

As at the year end the amount owed to the company from Insuppa Limited is £14,808 (2022: -£6,628).

 

13

Parent and ultimate parent undertaking

The company's immediate parent is Insuppa Ltd, incorporated in England.

 The most senior parent entity producing publicly available financial statements is Insuppa Ltd. These financial statements are available upon request from 58 Kinson Road, Bournemouth, Dorset, United Kingdom, BH10 4AN

 The ultimate controlling party is the shareholders of Insuppa Ltd.