Registration number:
S. T. Suterwalla & Sons Ltd
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 |
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Accountants |
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S. T. Suterwalla & Sons Ltd
(Registration number: 04430299)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
|
Fixed assets |
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Tangible assets |
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|
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Investment property |
|
|
|
|
|
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Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
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 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
......................................... |
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 |
|
|
|
Loss for the year |
- |
( |
( |
At 31 December 2023 |
|
|
|
Share capital |
Non-distributable reserve |
Retained earnings |
Total |
|
At 1 January 2022 |
|
|
|
|
Loss for the year |
- |
- |
( |
( |
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
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Taxation |
Tax charged/(credited) in the profit and loss account
2023 |
2022 |
|
Current taxation |
||
UK corporation tax |
|
|
UK corporation tax adjustment to prior periods |
( |
- |
2,827 |
1,311 |
|
Deferred taxation |
||
Arising from changes in tax rates and laws |
- |
( |
Tax expense/(receipt) in the income statement |
|
( |
Deferred tax
S. T. Suterwalla & Sons Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Tangible assets |
Fixtures and fittings |
Total |
|
Cost or valuation |
||
At 1 January 2023 |
|
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Additions |
|
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At 31 December 2023 |
|
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Investment properties |
2023 |
|
At 1 January |
|
Fair value adjustments |
( |
At 31 December |
|
There has been no valuation of investment property by an independent valuer.
The cost of the investment property and refurbishment was £489,948.
Debtors |
Current |
2023 |
2022 |
Prepayments |
|
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Other debtors |
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|
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S. T. Suterwalla & Sons Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
|
Due within one year |
|||
Loans and borrowings |
- |
|
|
Corporation tax |
|
|
|
Accruals and deferred income |
|
|
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Rent deposit |
|
|
|
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Creditors: amounts falling due after more than one year
2023 |
2022 |
|
Due after one year |
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Other non-current financial liabilities |
|
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Loans and borrowings |
Current loans and borrowings
2023 |
2022 |
|
Bank borrowings |
- |
|
Related party transactions |
Summary of transactions with entities with joint control or significant interest
Loans from related parties
2023 |
Entities with joint control or significant influence |
Total |
At start of period |
|
|
At end of period |
|
|
|
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 |
|
|
At end of period |
|
|
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