Company Registration No. 10199906 (England and Wales)
The Sussex Peasant Limited
Unaudited accounts
for the year ended 31 December 2023
The Sussex Peasant Limited
Unaudited accounts
Contents
The Sussex Peasant Limited
Company Information
for the year ended 31 December 2023
Company Number
10199906 (England and Wales)
Registered Office
Coney Hall
Sharpsbridge Lane, Newick
Lewes
East Sussex
BN8 4SA
Accountants
Maxwell-Gumbleton & Co.
1 West Street
Lewes
East Sussex
BN7 2NZ
The Sussex Peasant Limited
Statement of financial position
as at 31 December 2023
Tangible assets
36,045
59,671
Cash at bank and in hand
57,125
65,719
Creditors: amounts falling due within one year
(128,637)
(111,176)
Net current liabilities
(46,295)
(2,426)
Total assets less current liabilities
(10,250)
57,245
Creditors: amounts falling due after more than one year
(2,397)
(9,814)
Net (liabilities)/assets
(12,647)
47,431
Called up share capital
1,064
1,023
Share premium
82,070
34,977
Profit and loss account
(95,781)
11,431
Shareholders' funds
(12,647)
47,431
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 22 August 2024 and were signed on its behalf by
E D C Johnstone
Director
Company Registration No. 10199906
The Sussex Peasant Limited
Notes to the Accounts
for the year ended 31 December 2023
The Sussex Peasant Limited is a private company, limited by shares, registered in England and Wales, registration number 10199906. The registered office is Coney Hall, Sharpsbridge Lane, Newick, Lewes, East Sussex, BN8 4SA.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The Sussex Peasant Limited
Notes to the Accounts
for the year ended 31 December 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
7,755
89,066
27,441
3,110
127,372
At 31 December 2023
7,755
89,066
27,441
3,110
127,372
At 1 January 2023
5,443
54,491
5,197
2,570
67,701
Charge for the year
1,796
17,326
3,561
943
23,626
At 31 December 2023
7,239
71,817
8,758
3,513
91,327
At 31 December 2023
516
17,249
18,683
(403)
36,045
At 31 December 2022
2,312
34,575
22,244
540
59,671
Amounts falling due within one year
Accrued income and prepayments
-
25
Other debtors
19,480
31,335
The Sussex Peasant Limited
Notes to the Accounts
for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
6,571
6,254
Obligations under finance leases and hire purchase contracts
-
1,434
Trade creditors
91,649
91,615
Taxes and social security
-
1,402
Other creditors
22,783
7,177
8
Creditors: amounts falling due after more than one year
2023
2022
9
Average number of employees
During the year the average number of employees was 14 (2022: 13).