Company Registration No. 03891251 (England and Wales)
T & R Sutton Limited
Unaudited accounts
for the year ended 31 December 2023
T & R Sutton Limited
Unaudited accounts
Contents
T & R Sutton Limited
Company Information
for the year ended 31 December 2023
Directors
Mr IT Sutton
Mrs RM Sutton
Company Number
03891251 (England and Wales)
Registered Office
26 London Road
Widley
Waterlooville
Hampshire
PO7 5BS
England
Accountants
GKM Accountants Ltd
18 Evelegh Road
Portsmouth
PO6 1DL
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of T & R Sutton Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
T & R Sutton Limited for the year ended
31 December 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of T & R Sutton Limited, as a body, in accordance with the terms of our engagement letter dated 6 March 2024. Our work has been undertaken solely to prepare for your approval the accounts of T & R Sutton Limited and state those matters that we have agreed to state to the Board of Directors of T & R Sutton Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T & R Sutton Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that T & R Sutton Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of T & R Sutton Limited. You consider that T & R Sutton Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of T & R Sutton Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
GKM Accountants Ltd
Chartered Accountants
18 Evelegh Road
Portsmouth
PO6 1DL
4 October 2024
T & R Sutton Limited
Statement of financial position
as at 31 December 2023
Tangible assets
11,749
19,717
Cash at bank and in hand
1,454
1,272
Creditors: amounts falling due within one year
(19,579)
(40,415)
Net current liabilities
(17,625)
(33,466)
Total assets less current liabilities
(5,876)
(13,749)
Creditors: amounts falling due after more than one year
(89,749)
(64,973)
Net liabilities
(95,625)
(78,722)
Called up share capital
2
2
Profit and loss account
(95,627)
(78,724)
Shareholders' funds
(95,625)
(78,722)
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 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 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 of Directors and authorised for issue on 7 November 2024 and were signed on its behalf by
Mr IT Sutton
Director
Company Registration No. 03891251
T & R Sutton Limited
Notes to the Accounts
for the year ended 31 December 2023
T & R Sutton Limited is a private company, limited by shares, registered in England and Wales, registration number 03891251. The registered office is 26 London Road, Widley, Waterlooville, Hampshire, PO7 5BS, England.
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. 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.
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:
Land & buildings
15% on reducing balance
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Computer equipment
20% on reducing balance
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.
T & R Sutton Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Goodwill
At 31 December 2023
14,000
At 31 December 2023
14,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
6,000
2,891
19,999
2,459
31,349
At 31 December 2023
6,000
2,891
19,999
2,459
31,349
At 1 January 2023
4,819
2,720
1,667
2,426
11,632
Charge for the year
177
171
7,587
33
7,968
At 31 December 2023
4,996
2,891
9,254
2,459
19,600
At 31 December 2023
1,004
-
10,745
-
11,749
At 31 December 2022
1,181
171
18,332
33
19,717
Amounts falling due within one year
T & R Sutton 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
2,406
3,000
Obligations under finance leases and hire purchase contracts
3,000
10,498
Trade creditors
1,703
11,561
Taxes and social security
1,853
-
Loans from directors
11,811
11,811
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
7,643
11,871
Loans from directors
82,106
45,667
9
Post balance sheet events
In August 2024 the company sold its motor vehicle for substantially less than its net book value. The resulting loss of £7,587 has been included in the 2023 depreciation charge.
10
Average number of employees
During the year the average number of employees was 0 (2022: 1).