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Company Registration No. 11689846 (England and Wales)
Sublime Extensions & Refurbs Limited Unaudited accounts for the year ended 30 November 2023
Sublime Extensions & Refurbs Limited Unaudited accounts Contents
Page
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Sublime Extensions & Refurbs Limited Company Information for the year ended 30 November 2023
Director
Deane Eales
Company Number
11689846 (England and Wales)
Registered Office
Wickets Woodside Road Chiddingfold Godalming Surrey GU8 4UG UK
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Sublime Extensions & Refurbs Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
200 
200 
Current assets
Debtors
296,943 
17,352 
Cash at bank and in hand
18 
14,114 
296,961 
31,466 
Creditors: amounts falling due within one year
(116,785)
(84,716)
Net current assets/(liabilities)
180,176 
(53,250)
Total assets less current liabilities
180,376 
(53,050)
Creditors: amounts falling due after more than one year
(213,206)
- 
Net liabilities
(32,830)
(53,050)
Capital and reserves
Profit and loss account
(32,830)
(53,050)
Shareholders' funds
(32,830)
(53,050)
For the year ending 30 November 2023 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 September 2024 and were signed on its behalf by
Deane Eales Director Company Registration No. 11689846
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Sublime Extensions & Refurbs Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Sublime Extensions & Refurbs Limited is a private company, limited by shares, registered in England and Wales, registration number 11689846. The registered office is Wickets Woodside Road, Chiddingfold, Godalming, Surrey, GU8 4UG, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
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Sublime Extensions & Refurbs Limited Notes to the Accounts for the year ended 30 November 2023
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the director has made the following judgements: Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Other key sources of estimation uncertainty: Tangible fixed assets (note 4) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 December 2022
200 
At 30 November 2023
200 
Depreciation
At 30 November 2023
- 
Net book value
At 30 November 2023
200 
At 30 November 2022
200 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
11,677 
16,912 
Accrued income and prepayments
74,255 
440 
Other debtors
211,011 
- 
296,943 
17,352 
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Sublime Extensions & Refurbs Limited Notes to the Accounts for the year ended 30 November 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
20,013 
28,753 
VAT
(2,257)
8,357 
Trade creditors
19,730 
8,776 
Taxes and social security
51,183 
30,725 
Loans from directors
28,116 
8,105 
116,785 
84,716 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
12,753 
- 
Other creditors
140,000 
- 
Loans from directors
60,453 
- 
213,206 
- 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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