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REGISTERED NUMBER: 01916648 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024

FOR

SUDECO INTERNATIONAL LIMITED

SUDECO INTERNATIONAL LIMITED (REGISTERED NUMBER: 01916648)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SUDECO INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: Mr S.R Patel
Mr A.R Patel





SECRETARY: Mrs S.A Patel





REGISTERED OFFICE: Sudeco House
1 & 2 Broadfield Close
Progress Way
Croydon
Surrey
CR0 4XD





REGISTERED NUMBER: 01916648 (England and Wales)

SUDECO INTERNATIONAL LIMITED (REGISTERED NUMBER: 01916648)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 68,553 72,445
Investments 4 3,333 3,333
71,886 75,778

CURRENT ASSETS
Debtors 5 2,599,756 2,644,324
Cash in hand 4,721 10,749
2,604,477 2,655,073
CREDITORS
Amounts falling due within one year 6 2,065,419 2,065,221
NET CURRENT ASSETS 539,058 589,852
TOTAL ASSETS LESS CURRENT
LIABILITIES

610,944

665,630

CREDITORS
Amounts falling due after more than one year 7 1,411,819 1,331,572
NET LIABILITIES (800,875 ) (665,942 )

CAPITAL AND RESERVES
Called up share capital 9 100,000 100,000
Retained earnings (900,875 ) (765,942 )
SHAREHOLDERS' FUNDS (800,875 ) (665,942 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st December 2024 and were signed on its behalf by:





Mr S.R Patel - Director


SUDECO INTERNATIONAL LIMITED (REGISTERED NUMBER: 01916648)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Preparation of consolidated financial statements
The financial statements contain information about Sudeco International Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements

Turnover
Turnover
Turnover represents the value of goods sold and services provided, excluding Value Added Tax. Substantially 86% of the company's turnover was from overseas and 14% local.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Net current liabilities
The company has net current liabilities as at the year end. In the directors opinion, they will support the company in the foreseeable future.

Fixed asset investments
Fixed asset investments are stated at historical cost less any provision for permanent diminution in value.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

SUDECO INTERNATIONAL LIMITED (REGISTERED NUMBER: 01916648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


3. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1st July 2023
and 30th June 2024 184,516 91,529 41,070 317,115
DEPRECIATION
At 1st July 2023 114,390 89,310 40,970 244,670
Charge for year 3,690 202 - 3,892
At 30th June 2024 118,080 89,512 40,970 248,562
NET BOOK VALUE
At 30th June 2024 66,436 2,017 100 68,553
At 30th June 2023 70,126 2,219 100 72,445

4. FIXED ASSET INVESTMENTS
Shares in Interest
group in joint
undertakings venture Totals
£    £    £   
COST
At 1st July 2023
and 30th June 2024 2,622 711 3,333
NET BOOK VALUE
At 30th June 2024 2,622 711 3,333
At 30th June 2023 2,622 711 3,333

SUDECO INTERNATIONAL LIMITED (REGISTERED NUMBER: 01916648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


4. FIXED ASSET INVESTMENTS - continued

The company's investments at the balance sheet date in the share capital of companies include the following:

Subsidiaries

Sugar Development Corporation
Country of incorporation: USA
Nature of business: supplying equipment, etc to sugar industries

%
Class of shares: Holding
Ordinary 100.00

31/12/24 31/12/23
£ £   
Aggregate capital and reserves (577,893 ) (555,745 )
Profit/(loss) for the year (11,863 ) (9,200 )

Sudeco (India) Private Ltd
Country of incorporation: India
Nature of business: supplying equipment, etc to sugar industries

%
Class of shares: Holding
Ordinary 99.60

31/03/24 31/03/23
£    £
Aggregate capital and reserves (35,315 ) (43,295 )
Profit/(loss) for the year 8,312 (332 )

The aggregate capital and reserves and profit for the year are converted at the year end rate.


Associated Company

Omatics Solutions Private Limited
Country of incorporation: India
Nature of business: Software development and services

%
Class of shares: Holding
Ordinary 49.04

31/03/24 31/03/23
£    £
Aggregate capital and reserves 55,000 53,354
Profit/(loss) (2,440 ) (1 )

The aggregate capital and reserves and loss for the year are converted at the year end rate.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 623,473 664,439
Amounts owed by group undertakings 983,292 960,335
Other debtors 992,991 1,019,550
2,599,756 2,644,324

SUDECO INTERNATIONAL LIMITED (REGISTERED NUMBER: 01916648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,261,979 1,230,673
Trade creditors 70,638 100,809
Amounts owed to group undertakings 313,575 313,575
Taxation and social security 1,569 2,506
Other creditors 417,658 417,658
2,065,419 2,065,221

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 1,411,819 1,331,572

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank Overdrafts 1,261,979 1,230,673

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100,000 Ordinary Shares £1 100,000 100,000

10. CONTINGENT LIABILITIES

The company's bankers have provided a performance guarantee of £Nil (2023: £Nil) to the customers of the company. The company and the directors have provided securities to the bank in connection to this guarantee.

SUDECO INTERNATIONAL LIMITED (REGISTERED NUMBER: 01916648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


11. RELATED PARTY DISCLOSURES

1. Amounts due (owed) by the Directors to (from) the company as at the year-end was (owed £80,246) (due 2023: £40,792). Amounts due to the Directors by other group companies as at the year-end was £Nil (2023: £Nil).

2. The bank overdraft and bank facilities are secured by way of personal guarantees from the Directors and their close family members.

3. During the year, the company undertook the following transactions with its wholly owned subsidiaries:




Purchases
Net Funds
provided/(repaid)

Balance at 30 June 2024
2024 2023 2024 2023 2024 2023
Sugar
Development
Corporation


£Nil


£Nil


£22,957


£33,492


£886,990


£864,032
Sudeco India
Private
Limited


£Nil


£Nil


£Nil


£Nil


(£313,575)


(£313,575)



4. During the year, an amount of £96,302 (2023: £96,302) was due from Omatics Solutions Private Limited, an associated company by virtue of the fact that Sugar Developments Corporation owns greater than 20% shareholdings in that company.

5. At year end, Omatics Limited has provided an unsecured and interest free loan of £166,956 (2023: £167,092). a company in which Messrs. S.R. and A.R.Patel are the only directors and shareholders. This loan is unsecured and interest free and is not repayable within 12 months of the year end.

12. POST BALANCE SHEET EVENTS

One of the projects which the company had undertaken has been suspended temporarily due to the political unrest in Syria. The directors are of the opinion that the situation in Syria will improve in the near future and that the company will be able to resume that project.

13. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the current and previous periods by its directors, Mr S.R. Patel and Mr A.R. Patel, by virtue of the fact that between them they own all of the company's ordinary share capital.