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Registration number: 14041620

Sunday House Limited

trading as Dream Doors Dudley

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Sunday House Limited

trading as Dream Doors Dudley

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Sunday House Limited

trading as Dream Doors Dudley

(Registration number: 14041620)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

15,015

19,635

Tangible assets

5

72,662

60,470

 

87,677

80,105

Current assets

 

Stocks

6

21,415

12,438

Debtors

7

13,800

37,217

Cash at bank and in hand

 

15,064

40,762

 

50,279

90,417

Creditors: Amounts falling due within one year

8

(233,879)

(207,750)

Net current liabilities

 

(183,600)

(117,333)

Total assets less current liabilities

 

(95,923)

(37,228)

Creditors: Amounts falling due after more than one year

8

(35,647)

(21,696)

Net liabilities

 

(131,570)

(58,924)

Capital and reserves

 

Called up share capital

100

2

Retained earnings

(131,670)

(58,926)

Shareholders' deficit

 

(131,570)

(58,924)

 

Sunday House Limited

trading as Dream Doors Dudley

(Registration number: 14041620)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director on 3 September 2024
 

.........................................
Mr Christopher James Drew
Director

 

Sunday House Limited

trading as Dream Doors Dudley

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
86 Lawnswood Road
Wordsley
Stourbridge
West Midlands
DY8 5NA
England

These financial statements were authorised for issue by the director on 3 September 2024.

2

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

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the shareholders that they will continue to give financial support to the company for twelve months from the date of signing these accounts.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above may not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustments to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

 

Sunday House Limited

trading as Dream Doors Dudley

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

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.

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

Motor vehicles

25% reducing balance

Fixtures and fittings

25% reducing balance

Office equipment

33% straight line

Property improvements

15% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise fee

20% straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Sunday House Limited

trading as Dream Doors Dudley

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 3).

 

Sunday House Limited

trading as Dream Doors Dudley

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Franchise Fee
£

Total
£

Cost or valuation

At 1 April 2023

23,100

23,100

At 31 March 2024

23,100

23,100

Amortisation

At 1 April 2023

3,465

3,465

Amortisation charge

4,620

4,620

At 31 March 2024

8,085

8,085

Carrying amount

At 31 March 2024

15,015

15,015

At 31 March 2023

19,635

19,635

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2023

12,014

13,815

1,077

38,745

Additions

-

-

308

31,000

At 31 March 2024

12,014

13,815

1,385

69,745

Depreciation

At 1 April 2023

873

1,418

178

2,712

Charge for the year

1,671

3,099

397

13,949

At 31 March 2024

2,544

4,517

575

16,661

Carrying amount

At 31 March 2024

9,470

9,298

810

53,084

At 31 March 2023

11,141

12,397

899

36,033

 

Sunday House Limited

trading as Dream Doors Dudley

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Total
£

Cost or valuation

At 1 April 2023

65,651

Additions

31,308

At 31 March 2024

96,959

Depreciation

At 1 April 2023

5,181

Charge for the year

19,116

At 31 March 2024

24,297

Carrying amount

At 31 March 2024

72,662

At 31 March 2023

60,470

 

Sunday House Limited

trading as Dream Doors Dudley

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Stocks

2024
£

2023
£

Work in progress

21,415

12,438

7

Debtors

Current

2024
£

2023
£

Trade debtors

-

20,067

Prepayments

6,300

8,400

Other debtors

7,500

8,750

 

13,800

37,217

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

147,318

126,449

Trade creditors

 

22,974

21,641

Taxation and social security

 

11,033

6,651

Accruals and deferred income

 

45,947

48,256

Other creditors

 

6,607

4,753

 

233,879

207,750

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

35,647

21,696

 

Sunday House Limited

trading as Dream Doors Dudley

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

35,647

21,696

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

12,399

6,199

Other borrowings

134,919

120,250

147,318

126,449