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Registered number: 01769674
Sutton Associates Limited
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Sutton Associates Limited for the year ended 30 April 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Sutton Associates Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Sutton Associates Limited , as a body, in accordance with the terms of our engagement letter dated 22 June 2022. Our work has been undertaken solely to prepare for your approval the accounts of Sutton Associates Limited and state those matters that we have agreed to state to the director of Sutton Associates Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sutton Associates Limited and its director as a body for our work or for this report.
It is your duty to ensure that Sutton Associates Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Sutton Associates Limited . You consider that Sutton Associates Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Sutton Associates Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Saii AG LLP
20 August 2024
Saii AG
Chartered Certified Accountants
Suite37/38 Marshall House, 124 Middleton Road
Morden
Surrey
SM4 6RW
Page 1
Page 2
Balance Sheet
Registered number: 01769674
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 35,192 22,282
35,192 22,282
CURRENT ASSETS
Stocks 27,869 34,953
Debtors 6 169,126 164,371
Cash at bank and in hand 78,007 120,490
275,002 319,814
Creditors: Amounts Falling Due Within One Year 7 (241,219 ) (336,904 )
NET CURRENT ASSETS (LIABILITIES) 33,783 (17,090 )
TOTAL ASSETS LESS CURRENT LIABILITIES 68,975 5,192
NET ASSETS 68,975 5,192
CAPITAL AND RESERVES
Called up share capital 200 200
Profit and Loss Account 68,775 4,992
SHAREHOLDERS' FUNDS 68,975 5,192
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The financial statements were approved by the board of directors on 20 August 2024 and were signed on its behalf by:
Mr Pradipkumar Patel
Director
20 August 2024
The notes on pages 4 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Sutton Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01769674 . The registered office is 62 Ridge Road, Sutton, Surrey, SM3 9LJ.
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
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:
Leasehold No depreciation
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.5. Leasing and Hire Purchase Contracts
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. 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.
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2.10. 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.
2.11. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 43,500
As at 30 April 2024 43,500
Amortisation
As at 1 May 2023 43,500
As at 30 April 2024 43,500
...CONTINUED
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Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 12,790 131,297 17,305 161,392
Additions - - 19,155 19,155
As at 30 April 2024 12,790 131,297 36,460 180,547
Depreciation
As at 1 May 2023 6,790 128,774 3,546 139,110
Provided during the period - 631 5,614 6,245
As at 30 April 2024 6,790 129,405 9,160 145,355
Net Book Value
As at 30 April 2024 6,000 1,892 27,300 35,192
As at 1 May 2023 6,000 2,523 13,759 22,282
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 104,554 104,940
Other debtors 64,572 59,431
169,126 164,371
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 154,388 158,810
Corporation tax 15,866 25,210
Other taxes and social security 1,145 580
Other creditors 69,820 152,304
241,219 336,904
8. Related Party Transactions
Mr Pradipkumar Patel is Director of Sutton Associates Limited.
At the balance sheet date, the total amount owed by the company to the director is £54,818.00 (2023: £120,220.00). 
During the year, the company has declared a dividend of £142,700.00 (2023: £493,360.03).
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9. Controlling Party
Summary of transactions with parent company
Rajdip Limited
(Parent undertaking of Sutton Associate Limited)   
During the year there was a loan due from Rajdip Limited total of  £142,700.00  which was received during the year ended 30 April 2024 by way of dividend distribution of £142,700.00 
At the balance sheet date, the amount due from Rajdip Limited was £0.00 (2023 : £45,000).
10. Other information
Sutton Associates Limited is a private company limited by shares and incorporated in England. Its registered office is:
45 Middleton Road
Morden
England
SM4 6RU
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