Company Registration No. 10749720 (England and Wales)
Sussex Escapes Limited
Unaudited accounts
for the year ended 31 May 2024
Sussex Escapes Limited
Unaudited accounts
Contents
Sussex Escapes Limited
Company Information
for the year ended 31 May 2024
Directors
Sandra Bayley
Wayne Bayley
Company Number
10749720 (England and Wales)
Registered Office
1 Bayley Paddock
Mill Lane
Littleworth
RH13 8JU
Sussex Escapes Limited
Statement of financial position
as at 31 May 2024
Cash at bank and in hand
1,075
910
Creditors: amounts falling due within one year
(48,225)
(46,776)
Net current liabilities
(46,877)
(45,567)
Net liabilities
(46,877)
(45,567)
Called up share capital
2
2
Profit and loss account
(46,879)
(45,569)
Shareholders' funds
(46,877)
(45,567)
For the year ending 31 May 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by
Wayne Bayley
Director
Company Registration No. 10749720
Sussex Escapes Limited
Notes to the Accounts
for the year ended 31 May 2024
Sussex Escapes Limited is a private company, limited by shares, registered in England and Wales, registration number 10749720. The registered office is 1 Bayley Paddock, Mill Lane, Littleworth, RH13 8JU.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Revenue, described as turnover is the 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.
Tangible fixed assets and depreciation
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent
accumulated impairment losses.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant & machinery
25% Straight line
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.
Sussex Escapes Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Accrued income and prepayments
273
299
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
45,477
Amounts owed to group undertakings and other participating interests
6,000
-
Loans from directors
41,460
549
7
Transactions with related parties
Interest is not being charged on a related party loan of £6k (2023: £5,062) included within creditors. The balance is repayable on demand.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).