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REGISTERED NUMBER: 11486639 (England and Wales)










Unaudited Financial Statements

for the Year Ended 29 March 2024

for

Sugarfinery Limited

Sugarfinery Limited (Registered number: 11486639)






Contents of the Financial Statements
for the Year Ended 29 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sugarfinery Limited

Company Information
for the Year Ended 29 March 2024







DIRECTORS: Mr I J Craggs
Mrs A Craggs





REGISTERED OFFICE: 35-37 Crescent Road
Windermere
Cumbria
LA23 1BL





REGISTERED NUMBER: 11486639 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Sugarfinery Limited (Registered number: 11486639)

Balance Sheet
29 March 2024

29.3.24 29.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 50
Tangible assets 5 990 9,951
990 10,001

CURRENT ASSETS
Stocks - 1,000
Debtors 6 5,545 19,746
Cash at bank 26 937
5,571 21,683
CREDITORS
Amounts falling due within one year 7 191,034 218,177
NET CURRENT LIABILITIES (185,463 ) (196,494 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(184,473

)

(186,493

)

CAPITAL AND RESERVES
Called up share capital 800 800
Retained earnings (185,273 ) (187,293 )
(184,473 ) (186,493 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Sugarfinery Limited (Registered number: 11486639)

Balance Sheet - continued
29 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





Mr I J Craggs - Director


Sugarfinery Limited (Registered number: 11486639)

Notes to the Financial Statements
for the Year Ended 29 March 2024

1. STATUTORY INFORMATION

Sugarfinery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Going concern
At the year end the company's liabilities exceeded its assets by £184,473 and as such the company's ability to continue to operate depends on the support of its' Directors. The Financial Statements have been prepared on a going concern basis as the Directors intend to give their support for the foreseeable future.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Sugarfinery Limited (Registered number: 11486639)

Notes to the Financial Statements - continued
for the Year Ended 29 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 30 March 2023
and 29 March 2024 250
AMORTISATION
At 30 March 2023 200
Amortisation for year 50
At 29 March 2024 250
NET BOOK VALUE
At 29 March 2024 -
At 29 March 2023 50

Sugarfinery Limited (Registered number: 11486639)

Notes to the Financial Statements - continued
for the Year Ended 29 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 30 March 2023 3,310 13,474 8,036 24,820
Disposals (3,310 ) (12,039 ) (1,563 ) (16,912 )
At 29 March 2024 - 1,435 6,473 7,908
DEPRECIATION
At 30 March 2023 993 7,689 6,187 14,869
Charge for year - 329 1,850 2,179
Eliminated on disposal (993 ) (7,573 ) (1,564 ) (10,130 )
At 29 March 2024 - 445 6,473 6,918
NET BOOK VALUE
At 29 March 2024 - 990 - 990
At 29 March 2023 2,317 5,785 1,849 9,951

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.3.24 29.3.23
£    £   
Trade debtors 2,272 55
Amounts owed by group undertakings 3,273 -
Other debtors - 19,691
5,545 19,746

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.3.24 29.3.23
£    £   
Trade creditors - 2,460
Taxation and social security - 2
Other creditors 191,034 215,715
191,034 218,177

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29.3.24 29.3.23
£    £   
Within one year - 658

9. RELATED PARTY DISCLOSURES

The directors loaned to the company a total of £9,596 and was repaid a total of £33,777 in the period. The balance owing to the directors at 29.03.2023 is £189,895 (2023 £212,326 and £1,750 shareholder loan) is interest free and repayable on demand.