Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false20true2023-04-01continues to be that of retail grocers.21trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00869697 2023-04-01 2024-03-31 00869697 2022-04-01 2023-03-31 00869697 2024-03-31 00869697 2023-03-31 00869697 2022-04-01 00869697 c:Director1 2023-04-01 2024-03-31 00869697 d:MotorVehicles 2023-04-01 2024-03-31 00869697 d:MotorVehicles 2024-03-31 00869697 d:MotorVehicles 2023-03-31 00869697 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00869697 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 00869697 d:FurnitureFittings 2023-04-01 2024-03-31 00869697 d:FurnitureFittings 2024-03-31 00869697 d:FurnitureFittings 2023-03-31 00869697 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00869697 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 00869697 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00869697 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 00869697 d:CurrentFinancialInstruments 2024-03-31 00869697 d:CurrentFinancialInstruments 2023-03-31 00869697 d:Non-currentFinancialInstruments 2024-03-31 00869697 d:Non-currentFinancialInstruments 2023-03-31 00869697 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00869697 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00869697 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 00869697 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00869697 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 00869697 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 00869697 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 00869697 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 00869697 d:ShareCapital 2024-03-31 00869697 d:ShareCapital 2023-03-31 00869697 d:RetainedEarningsAccumulatedLosses 2024-03-31 00869697 d:RetainedEarningsAccumulatedLosses 2023-03-31 00869697 c:OrdinaryShareClass1 2023-04-01 2024-03-31 00869697 c:OrdinaryShareClass1 2024-03-31 00869697 c:OrdinaryShareClass1 2023-03-31 00869697 c:FRS102 2023-04-01 2024-03-31 00869697 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00869697 c:FullAccounts 2023-04-01 2024-03-31 00869697 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00869697 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 00869697 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 00869697 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 00869697 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 00869697 2 2023-04-01 2024-03-31 00869697 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00869697









SUNDORNE PRODUCTS (WILLENHALL) LIMITED








FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

 
SUNDORNE PRODUCTS (WILLENHALL) LIMITED
REGISTERED NUMBER: 00869697

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
88,335
95,880

  
88,335
95,880

Current assets
  

Stocks
  
66,449
68,958

Debtors: amounts falling due within one year
 5 
15,926
16,224

Cash at bank and in hand
  
14,803
35,108

  
97,178
120,290

Creditors: amounts falling due within one year
 6 
(288,078)
(146,576)

Net current liabilities
  
 
 
(190,900)
 
 
(26,286)

Total assets less current liabilities
  
(102,565)
69,594

Creditors: amounts falling due after more than one year
 7 
(11,557)
(73,075)

Provisions for liabilities
  

Deferred tax
 9 
-
(8,620)

  
 
 
-
 
 
(8,620)

Net liabilities
  
(114,122)
(12,101)


Capital and reserves
  

Called up share capital 
 10 
11,500
11,500

Profit and loss account
  
(125,622)
(23,601)

  
(114,122)
(12,101)


Page 1

 
SUNDORNE PRODUCTS (WILLENHALL) LIMITED
REGISTERED NUMBER: 00869697
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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 period 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 profit and loss account 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 on 29 August 2024.




Andrew Burns
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SUNDORNE PRODUCTS (WILLENHALL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

The company is registered in England and Wales. The company's registered office is Sundorne Products (Willenhall) Ltd, T/A Nisa Supermarket, 300 Stroud Avenue, Willenhall, West Midlands, WV12 4HA. The principal activity of the company continues to be that of retail grocers.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

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.

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

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

Page 3

 
SUNDORNE PRODUCTS (WILLENHALL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

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.

Page 4

 
SUNDORNE PRODUCTS (WILLENHALL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Motor vehicles
-
10% reducing balance
Fixtures and fittings
-
5% per year

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.

 
2.10

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 first in, first out 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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 5

 
SUNDORNE PRODUCTS (WILLENHALL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

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.

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.




3.


Employees

The average monthly number of employees, including directors, during the period was 20 (2023 - 21).

Page 6

 
SUNDORNE PRODUCTS (WILLENHALL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
56,390
148,582
204,972


Additions
-
2,548
2,548


Disposals
-
(2,833)
(2,833)



At 31 March 2024

56,390
148,297
204,687



Depreciation


At 1 April 2023
9,445
99,648
109,093


Charge for the period on owned assets
-
2,564
2,564


Charge for the period on financed assets
4,695
-
4,695



At 31 March 2024

14,140
102,212
116,352



Net book value



At 31 March 2024
42,250
46,085
88,335



At 31 March 2023
46,945
48,935
95,880


5.


Debtors

2024
2023
£
£


Other debtors
7,292
12,546

Prepayments and accrued income
4,004
3,678

Deferred taxation
4,630
-

15,926
16,224


Page 7

 
SUNDORNE PRODUCTS (WILLENHALL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
10,091
10,069

Trade creditors
210,050
120,241

Other taxation and social security
2,116
3,735

Other creditors
51,792
4,091

Accruals and deferred income
14,029
8,440

288,078
146,576



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank Loan
11,557
21,575

Other creditors
-
51,500

11,557
73,075


Page 8

 
SUNDORNE PRODUCTS (WILLENHALL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loan
10,091
10,069


10,091
10,069


Amounts falling due 2-5 years

Bank loan
10,346
10,326


10,346
10,326

Amounts falling due after more than 5 years

Bank loan
1,211
11,249

1,211
11,249

21,648
31,644



9.


Deferred taxation




2024
2023


£

£






At beginning of year
(8,620)
(19,697)


Charged to profit or loss
13,250
11,077



At end of year
4,630
(8,620)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
8,620

Tax losses carried forward
4,630
-

(4,630)
8,620

Page 9

 
SUNDORNE PRODUCTS (WILLENHALL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



11,500 (2023 - 11,500) Ordinary shares of £1.00 each
11,500
11,500



11.


Controlling party

The controlling interest in the company is held by Andrew and Margaret Burns.

 
Page 10