Acorah Software Products - Accounts Production 15.0.600 false true true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 11040515 Mr Tri Silwal Mr Prakash Subedi Mr Gopal Sonar iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11040515 2022-10-31 11040515 2023-10-31 11040515 2022-11-01 2023-10-31 11040515 frs-core:CurrentFinancialInstruments 2023-10-31 11040515 frs-core:Non-currentFinancialInstruments 2023-10-31 11040515 frs-core:BetweenOneFiveYears 2023-10-31 11040515 frs-core:MoreThanFiveYears 2023-10-31 11040515 frs-core:PlantMachinery 2023-10-31 11040515 frs-core:PlantMachinery 2022-11-01 2023-10-31 11040515 frs-core:PlantMachinery 2022-10-31 11040515 frs-core:WithinOneYear 2023-10-31 11040515 frs-core:ShareCapital 2023-10-31 11040515 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 11040515 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11040515 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 11040515 frs-bus:SmallEntities 2022-11-01 2023-10-31 11040515 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 11040515 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 11040515 frs-bus:Director1 2022-11-01 2023-10-31 11040515 frs-bus:Director1 2022-10-31 11040515 frs-bus:Director1 2023-10-31 11040515 frs-bus:Director2 2022-11-01 2023-10-31 11040515 frs-bus:Director2 2022-10-31 11040515 frs-bus:Director2 2023-10-31 11040515 frs-bus:Director3 2022-11-01 2023-10-31 11040515 frs-bus:Director3 2022-10-31 11040515 frs-bus:Director3 2023-10-31 11040515 frs-countries:EnglandWales 2022-11-01 2023-10-31 11040515 2021-10-31 11040515 2022-10-31 11040515 2021-11-01 2022-10-31 11040515 frs-core:CurrentFinancialInstruments 2022-10-31 11040515 frs-core:Non-currentFinancialInstruments 2022-10-31 11040515 frs-core:BetweenOneFiveYears 2022-10-31 11040515 frs-core:MoreThanFiveYears 2022-10-31 11040515 frs-core:WithinOneYear 2022-10-31 11040515 frs-core:ShareCapital 2022-10-31 11040515 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 11040515
Sushizone Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11040515
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,390 3,584
2,390 3,584
CURRENT ASSETS
Stocks 5 3,917 2,512
Debtors 6 73,063 90,804
Cash at bank and in hand 17,021 17,562
94,001 110,878
Creditors: Amounts Falling Due Within One Year 7 (63,040 ) (41,811 )
NET CURRENT ASSETS (LIABILITIES) 30,961 69,067
TOTAL ASSETS LESS CURRENT LIABILITIES 33,351 72,651
Creditors: Amounts Falling Due After More Than One Year 8 (32,666 ) -
NET ASSETS 685 72,651
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 585 72,551
SHAREHOLDERS' FUNDS 685 72,651
Page 1
Page 2
For the year ending 31 October 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 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Prakash Subedi
Director
Mr Gopal Sonar
Director
27/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sushizone Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11040515 . The registered office is 300C Park Road, London, N8 8LA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line method
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the
contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the company after deducting all of its liabilities.
The company’s policies for its major classes of financial assets and financial liabilities are set out
below.
Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances are initially
recognised at transaction price, unless the arrangement constitutes a financing transaction, where
the transaction is measured at the present value of the future receipts discounted at a market rate of
interest for a similar debt instrument. Financing transactions are those in which payment is deferred
beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any
impairment.
Financial liabilities
...CONTINUED
Page 3
Page 4
2.6. Financial Instruments - continued
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an
impairment loss is recognised in the profit and loss account.
For financial assets measured at cost less impairment, the impairment loss is measured as the
difference between the asset's carrying amount and the best estimate of the amount the company
would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference
between the asset's carrying amount and the present value of estimated cash flows discounted at the
asset's original effective interest rate. If the financial asset has a variable interest rate, the discount
rate for measuring any impairment loss is the current effective interest rate determined under the
contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the current carrying amount does
not exceed what the carrying amount would have been had the impairment not previously been
recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset
expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are
transferred to another party or (c) despite having retained some significant risks and rewards of
ownership, control of the asset has been transferred to another party who has the practical ability to
unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual
obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 4
Page 5
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Share capital
Ordinary shares are classfied as equity.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2022: 31)
20 31
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2022 4,779
As at 31 October 2023 4,779
Depreciation
As at 1 November 2022 1,195
Provided during the period 1,194
As at 31 October 2023 2,389
Net Book Value
As at 31 October 2023 2,390
As at 1 November 2022 3,584
5. Stocks
2023 2022
£ £
Stock 3,917 2,512
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 10,438 19,355
Prepayments and accrued income 43,347 5,242
Other debtors 3,500 3,500
VAT 12,102 20,639
Net wages 3,676 -
Directors' loan accounts - 42,068
73,063 90,804
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 41,083 31,715
Bank loans and overdrafts 10,886 -
Corporation tax (12 ) (10,402 )
Other taxes and social security 5,937 11,936
Other creditors 714 3,846
Accruals and deferred income 1,500 4,716
Directors' loan accounts 2,932 -
63,040 41,811
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 32,666 -
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 27,588 27,588
Later than one year and not later than five years 110,352 110,532
Later than five years 156,606 184,194
294,546 322,314
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr Tri Silwal 15,000 - 15,000 - -
Mr Prakash Subedi 13,534 - 15,000 - (1,466 )
Mr Gopal Sonar 13,534 - 15,000 - (1,466 )
The above loan is unsecured and repayable on demand.
Page 6