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Registered number: 11291500
Sunday Treat Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 11291500
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 132,261
Tangible Assets 5 43,959 48,265
Investments 6 126,644 186,925
170,603 367,451
CURRENT ASSETS
Debtors 7 295,455 197,312
Cash at bank and in hand 84,477 362,971
379,932 560,283
Creditors: Amounts Falling Due Within One Year 8 (183,531 ) (187,371 )
NET CURRENT ASSETS (LIABILITIES) 196,401 372,912
TOTAL ASSETS LESS CURRENT LIABILITIES 367,004 740,363
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,387 ) (7,993 )
NET ASSETS 359,617 732,370
CAPITAL AND RESERVES
Called up share capital 9 1 1
Fair value reserve 10 35,649 35,649
Income Statement 323,967 696,720
SHAREHOLDERS' FUNDS 359,617 732,370
Page 1
Page 2
For the 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.
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 Income Statement.
On behalf of the board
Mr G Moore
Director
02/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sunday Treat Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11291500 . The registered office is Mediaworks, 191 Wood Lane, London, W12 7FP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially recongnised at cost. After initial recognition, intangible assets are recorded at cost less accumulated amortisation and impairment losses.
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% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 6)
7 6
4. Intangible Assets
Other
£
Cost or Valuation
As at 1 April 2023 226,705
Disposals (226,705 )
As at 31 March 2024 -
Amortisation
As at 1 April 2023 94,444
Disposals (94,444 )
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 132,261
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 33,197 42,895 19,581 95,673
Additions 7,241 - 3,105 10,346
As at 31 March 2024 40,438 42,895 22,686 106,019
Depreciation
As at 1 April 2023 20,631 18,767 8,010 47,408
Provided during the period 4,952 6,032 3,668 14,652
As at 31 March 2024 25,583 24,799 11,678 62,060
Net Book Value
As at 31 March 2024 14,855 18,096 11,008 43,959
As at 1 April 2023 12,566 24,128 11,571 48,265
Page 4
Page 5
6. Investments
Listed
£
Cost
As at 1 April 2023 207,731
Revaluations (60,281 )
As at 31 March 2024 147,450
Provision
As at 1 April 2023 20,806
As at 31 March 2024 20,806
Net Book Value
As at 31 March 2024 126,644
As at 1 April 2023 186,925
7. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 295,455 150,512
Other debtors - 46,800
295,455 197,312
8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 8,702 5,382
Other creditors 20,037 6,572
Taxation and social security 154,792 175,417
183,531 187,371
9. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 1 1
10. Reserves
Fair Value Reserve
£
As at 1 April 2023 35,649
As at 31 March 2024 35,649
Page 5