IRIS Accounts Production v24.1.0.578 12069046 director 1.1.23 31.12.23 31.12.23 6.6.24 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh120690462022-12-31120690462023-12-31120690462023-01-012023-12-31120690462021-12-31120690462022-01-012022-12-31120690462022-12-3112069046ns15:EnglandWales2023-01-012023-12-3112069046ns14:PoundSterling2023-01-012023-12-3112069046ns10:Director12023-01-012023-12-3112069046ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3112069046ns10:SmallEntities2023-01-012023-12-3112069046ns10:Audited2023-01-012023-12-3112069046ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3112069046ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3112069046ns10:FullAccounts2023-01-012023-12-3112069046ns10:OrdinaryShareClass12023-01-012023-12-3112069046ns10:RegisteredOffice2023-01-012023-12-3112069046ns5:CurrentFinancialInstruments2023-12-3112069046ns5:CurrentFinancialInstruments2022-12-3112069046ns5:Non-currentFinancialInstruments2023-12-3112069046ns5:Non-currentFinancialInstruments2022-12-3112069046ns5:ShareCapital2023-12-3112069046ns5:ShareCapital2022-12-3112069046ns5:RetainedEarningsAccumulatedLosses2023-12-3112069046ns5:RetainedEarningsAccumulatedLosses2022-12-3112069046ns5:LandBuildings2022-12-3112069046ns5:PlantMachinery2022-12-3112069046ns5:LandBuildings2023-01-012023-12-3112069046ns5:PlantMachinery2023-01-012023-12-3112069046ns5:LandBuildings2023-12-3112069046ns5:PlantMachinery2023-12-3112069046ns5:LandBuildings2022-12-3112069046ns5:PlantMachinery2022-12-3112069046ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3112069046ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3112069046ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-12-3112069046ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2022-12-3112069046ns10:OrdinaryShareClass12023-12-31













Financial Statements

for the Year Ended 31 December 2023

for

Sucre London Limited

Sucre London Limited (Registered number: 12069046)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sucre London Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: A Rojas Herrero





REGISTERED OFFICE: 8/10 South St
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: 12069046 (England and Wales)





AUDITORS: Williams & Co Epsom LLP
Statutory Auditors
8-10 South Street
Epsom
Surrey
KT18 7PF

Sucre London Limited (Registered number: 12069046)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,210,279 2,368,762

CURRENT ASSETS
Stocks 61,239 58,668
Debtors: amounts falling due within one year 5 460,267 243,902
Debtors: amounts falling due after more than
one year

5

225,000

225,000
Cash at bank and in hand 33,345 46,644
779,851 574,214
CREDITORS
Amounts falling due within one year 6 2,046,402 1,998,040
NET CURRENT LIABILITIES (1,266,551 ) (1,423,826 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

943,728

944,936

CREDITORS
Amounts falling due after more than one
year

7

2,322,321

2,604,650
NET LIABILITIES (1,378,593 ) (1,659,714 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (1,378,594 ) (1,659,715 )
SHAREHOLDERS' FUNDS (1,378,593 ) (1,659,714 )

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 June 2024 and were signed by:





A Rojas Herrero - Director


Sucre London Limited (Registered number: 12069046)

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


1. STATUTORY INFORMATION

Sucre London Limited 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.

2. ACCOUNTING POLICIES

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

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the sale of food and drinks within the restaurant operated by the company. Revenues are recognised at the point of sale.

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 - 4.17% - straight line method
Improvements to property - 10% - straight line method
Plant and machinery - 12.5% and 10% - straight line method
Fixtures and fittings - 12.5% - straight line method
Computer equipment - 12.5% and 10% - straight line method

Stocks
Stocks are mainly comprised of wine and other beverages used in the operation of the restaurant.

Stock also includes food which is valued in the same way.

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

The basis of valuation used is the actual cost paid to the supplier.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Sucre London Limited (Registered number: 12069046)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The company has made a profit in the year to the 31st December 2023 but still has net current liabilities at that date. These losses have been funded by loans from its parent company and other shareholders who have no immediate rights to repayment under the shareholders and subscribers agreement.

The director has prepared forecasts for the subsidiary company that show trading is expected to continue its improved performance and so provide a means to repay the loan outstanding to its immediate parent company. The Group is also committed to providing financial support going forward.

As a result, the accounts have been drawn up on a going concern basis which will continue to support it as required.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 67 (2022 - 60 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 340,249 2,306,827 2,647,076
Additions 7,601 101,340 108,941
At 31 December 2023 347,850 2,408,167 2,756,017
DEPRECIATION
At 1 January 2023 19,817 258,497 278,314
Charge for year 14,557 252,867 267,424
At 31 December 2023 34,374 511,364 545,738
NET BOOK VALUE
At 31 December 2023 313,476 1,896,803 2,210,279
At 31 December 2022 320,432 2,048,330 2,368,762

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 124,233 114,377
Other debtors 336,034 129,525
460,267 243,902

Amounts falling due after more than one year:
Other debtors 225,000 225,000

Aggregate amounts 685,267 468,902

Sucre London Limited (Registered number: 12069046)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 99 99
Advances from customers 705 15,267
Trade creditors 254,466 384,229
Taxation and social security 201,814 132,090
Other creditors 1,589,318 1,466,355
2,046,402 1,998,040

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 2,322,321 2,604,650

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul M Smith BSc (hons) FCA (Senior Statutory Auditor)
for and on behalf of Williams & Co Epsom LLP

10. ULTIMATE CONTROLLING PARTY

The controlling party is BA Restaurants Limited.