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Registered number: 9547888
Sustainomics Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
GMS FC Limited
1 London Road
Ipswich
Suffolk
IP1 2HA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 9547888
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 314 1,048
314 1,048
CURRENT ASSETS
Debtors 5 117,327 100,024
Cash at bank and in hand 543 1,163
117,870 101,187
Creditors: Amounts Falling Due Within One Year 6 (116,703 ) (107,533 )
NET CURRENT ASSETS (LIABILITIES) 1,167 (6,346 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,481 (5,298 )
NET ASSETS/(LIABILITIES) 1,481 (5,298 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 8,697 8,697
Profit and Loss Account (7,316 ) (14,095 )
SHAREHOLDERS' FUNDS 1,481 (5,298)
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 Profit and Loss Account.
On behalf of the board
Mrs Sharon Stokes
Director
23rd December 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Revaluation reserve Profit and Loss Account Total
£ £ £ £
As at 1 April 2022 100 8,697 (15,978 ) (7,181)
Profit for the year and total comprehensive income - - 1,883 1,883
As at 31 March 2023 and 1 April 2023 100 8,697 (14,095 ) (5,298)
Profit for the year and total comprehensive income - - 6,779 6,779
As at 31 March 2024 100 8,697 (7,316 ) 1,481
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Sustainomics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 9547888 . The registered office is 1 London Road, Ipswich, Suffolk, IP1 2HA.
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. 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:
Fixtures & Fittings 25% on Straight Line Basis
Computer Equipment 25% on Straight Line Basis
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 2,933 1,504 4,437
As at 31 March 2024 2,933 1,504 4,437
Depreciation
As at 1 April 2023 1,885 1,504 3,389
Provided during the period 734 - 734
As at 31 March 2024 2,619 1,504 4,123
Net Book Value
As at 31 March 2024 314 - 314
As at 1 April 2023 1,048 - 1,048
Page 4
Page 5
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 18,327 1,024
Other debtors 99,000 99,000
117,327 100,024
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,572 1,572
Corporation tax - 1,891
Accruals and deferred income 1,020 1,020
Directors' loan accounts 114,111 103,050
116,703 107,533
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Reserves
Revaluation Reserve
£
As at 1 April 2023 8,697
As at 31 March 2024 8,697
Page 5