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REGISTERED NUMBER: 04863038 (England and Wales)






















Financial Statements

for the Year Ended 31 August 2024

for

Sure24 Limited

Sure24 Limited (Registered number: 04863038)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Sure24 Limited (Registered number: 04863038)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 186,091 -
Tangible assets 5 48,093 38,323
234,184 38,323

CURRENT ASSETS
Stocks 685,328 757,562
Debtors 6 1,055,828 560,630
Cash at bank and in hand 135,568 258,501
1,876,724 1,576,693
CREDITORS
Amounts falling due within one year 7 1,297,733 861,434
NET CURRENT ASSETS 578,991 715,259
TOTAL ASSETS LESS CURRENT
LIABILITIES

813,175

753,582

CREDITORS
Amounts falling due after more than one
year

8

(19,901

)

(22,642

)

PROVISIONS FOR LIABILITIES (12,959 ) (3,000 )
NET ASSETS 780,315 727,940

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 755,315 702,940
780,315 727,940

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 director and authorised for issue on 20 December 2024 and were signed by:





S L Kirton - Director


Sure24 Limited (Registered number: 04863038)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Sure24 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04863038

Registered office: 2 Moorbridge Court
Moorbridge Road East
Bingham
Nottinghamshire
NG13 8GG

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 4 years
Fixtures and fittings - Straight line over 4 years
Motor vehicles - Straight line over 4 years
Computer equipment - Straight line over 4 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.


Sure24 Limited (Registered number: 04863038)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 September 2023 27,000 30,000 57,000
Additions - 186,091 186,091
At 31 August 2024 27,000 216,091 243,091
AMORTISATION
At 1 September 2023
and 31 August 2024 27,000 30,000 57,000
NET BOOK VALUE
At 31 August 2024 - 186,091 186,091
At 31 August 2023 - - -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 66,752 39,151 32,883 29,424 168,210
Additions - 2,037 - 22,937 24,974
At 31 August 2024 66,752 41,188 32,883 52,361 193,184
DEPRECIATION
At 1 September 2023 66,752 37,975 3,957 21,203 129,887
Charge for year - 486 8,220 6,498 15,204
At 31 August 2024 66,752 38,461 12,177 27,701 145,091
NET BOOK VALUE
At 31 August 2024 - 2,727 20,706 24,660 48,093
At 31 August 2023 - 1,176 28,926 8,221 38,323

Sure24 Limited (Registered number: 04863038)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 617,633 312,865
Other debtors 438,195 247,765
1,055,828 560,630

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 2,740 3,100
Trade creditors 709,686 558,736
Taxation and social security 497,951 129,507
Other creditors 87,356 170,091
1,297,733 861,434

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 19,901 22,642

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 2,740 3,100
Between one and five years 19,901 22,642
22,641 25,742

Non-cancellable operating leases
2024 2023
£    £   
Within one year 636 -
Between one and five years 1,590 -
2,226 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 22,641 25,742

The hire purchase are secured on the assets to which they relate to.

The company also has cross- guaranteed a loan in the parent company. This loan is secured by way of a fixed and floating charge over the property and undertakings of this company.

Sure24 Limited (Registered number: 04863038)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Colcomb (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

12. ULTIMATE CONTROLLING PARTY

During the year, the company's parent undertaking was Newbrick Group 4 Limited. The registered office and business address of the parent undertaking is 23 Porters Wood, St. Albans, AL3 6PQ.