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Registration number: 04430299

S. T. Suterwalla & Sons Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

S. T. Suterwalla & Sons Ltd

Company Information

Directors

Mr Azeem Suterwalla

Mrs Masooma Siraj Suterwalla

Jehangir Suterwalla

Anis Suterwalla

Registered office

9 Berners Place
London
W1T 3AD

Accountants

Mehta & Tengra
9 Berners Place
London
W1T 3AD

 

S. T. Suterwalla & Sons Ltd

(Registration number: 04430299)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,331

1

Investment property

6

365,000

450,000

 

368,331

450,001

Current assets

 

Debtors

7

3,139

2,057

Cash at bank and in hand

 

85,039

91,391

 

88,178

93,448

Creditors: Amounts falling due within one year

8

(11,623)

(25,009)

Net current assets

 

76,555

68,439

Total assets less current liabilities

 

444,886

518,440

Creditors: Amounts falling due after more than one year

8

(350,722)

(350,723)

Net assets

 

94,164

167,717

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

94,064

167,617

Shareholders' funds

 

94,164

167,717

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 20 September 2024 and signed on its behalf by:
 

.........................................
Anis Suterwalla
Director

 

S. T. Suterwalla & Sons Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

100

167,617

167,717

Loss for the year

-

(73,553)

(73,553)

At 31 December 2023

100

94,064

94,164

Share capital
£

Non-distributable reserve
£

Retained earnings
£

Total
£

At 1 January 2022

100

24,000

167,206

191,306

Loss for the year

-

-

(23,589)

(23,589)

Transfers

-

(24,000)

24,000

-

At 31 December 2022

100

-

167,617

167,717

 

S. T. Suterwalla & Sons Ltd

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 United Kingdom.

The address of its registered office is:
9 Berners Place
London
W1T 3AD

These financial statements were authorised for issue by the Board on 20 September 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises rental income from investment properties.

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.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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.

 

S. T. Suterwalla & Sons Ltd

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

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

Fixtures & fittings

15% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

Current taxation

UK corporation tax

2,862

1,311

UK corporation tax adjustment to prior periods

(35)

-

2,827

1,311

Deferred taxation

Arising from changes in tax rates and laws

-

(6,000)

Tax expense/(receipt) in the income statement

2,827

(4,689)

Deferred tax

 

S. T. Suterwalla & Sons Ltd

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

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 January 2023

1,593

1,593

Additions

3,917

3,917

At 31 December 2023

5,510

5,510

Depreciation

At 1 January 2023

1,592

1,592

Charge for the year

587

587

At 31 December 2023

2,179

2,179

Carrying amount

At 31 December 2023

3,331

3,331

At 31 December 2022

1

1

6

Investment properties

2023
£

At 1 January

450,000

Fair value adjustments

(85,000)

At 31 December

365,000

There has been no valuation of investment property by an independent valuer.

The cost of the investment property and refurbishment was £489,948.

7

Debtors

Current

2023
£

2022
£

Prepayments

2,614

1,528

Other debtors

525

529

 

3,139

2,057

 

S. T. Suterwalla & Sons Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

-

3,841

Corporation tax

 

4,405

1,312

Accruals and deferred income

 

6,068

18,706

Rent deposit

 

1,150

1,150

 

11,623

25,009

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

350,722

350,723

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank borrowings

-

3,841

11

Related party transactions

Summary of transactions with entities with joint control or significant interest

All the directors of this company are also directors of another UK registered company.
 

Loans from related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

350,722

350,722

At end of period

350,722

350,722

 

S. T. Suterwalla & Sons Ltd

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

2022

Entities with joint control or significant influence
£

Total
£

At start of period

350,722

350,722

At end of period

350,722

350,722