Registered number
05636804
Sussex Partners UK Limited
Filleted Accounts
31 March 2024
Sussex Partners UK Limited
Registered number: 05636804
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 1,154 2,518
Investments 5 91,078 91,078
92,232 93,596
Current assets
Debtors 6 342,048 314,332
Cash at bank and in hand 121,272 52,026
463,320 366,358
Creditors: amounts falling due within one year 7 (273,907) (185,345)
Net current assets 189,413 181,013
Net assets 281,645 274,609
Capital and reserves
Called up share capital 100,000 100,000
Profit and loss account 181,645 174,609
Shareholders' funds 281,645 274,609
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Davies
Director
Approved by the board on 24 July 2024
Sussex Partners UK Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is from the rendering of services and is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes and mainly represents fees for services provided based upon costs incurred by the company each month plus a mark up.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and equipment over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Operating leases
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Audit information
The audit report is unqualified.
Senior statutory auditor: Jeremy Staines
Firm: Begbies
Date of audit report: 24 July 2024
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
4 Tangible fixed assets
Fittings and equipment
£
Cost
At 1 April 2023 25,840
At 31 March 2024 25,840
Depreciation
At 1 April 2023 23,322
Charge for the year 1,364
At 31 March 2024 24,686
Net book value
At 31 March 2024 1,154
At 31 March 2023 2,518
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 91,078
At 31 March 2024 91,078
6 Debtors 2024 2023
£ £
Trade debtors 10,414 208,424
Other debtors 331,634 105,908
342,048 314,332
Amounts due after more than one year included above 26,668 26,668
Included in trade debtors are amounts owed by group undertakings 9,513 208,424
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 930 3,732
Amounts owed to group undertakings and undertakings in which the company has a participating interest 176,289 149,075
Taxation and social security costs 8,933 10,169
Other creditors 87,755 22,369
273,907 185,345
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 165,060 64,570
9 Other information
Sussex Partners UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Savile Row
London
W1S 3PJ
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