Registered number
06180973
SURMAGATE LTD
Filleted Accounts
31 March 2024
SURMAGATE LTD
Registered number: 06180973
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,866,270 64,229
Current assets
Debtors 4 82,972 50,000
Cash at bank and in hand 1,377 10,166
84,349 60,166
Creditors: amounts falling due within one year 5 (1,938,644) (7,436)
Net current (liabilities)/assets (1,854,295) 52,730
Total assets less current liabilities 11,975 116,959
Creditors: amounts falling due after more than one year 6 (90,078) (90,078)
Net (liabilities)/assets (78,103) 26,881
Capital and reserves
Called up share capital 2 2
Profit and loss account (78,105) 26,879
Shareholder's funds (78,103) 26,881
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mohammed Abdul Munim
Director
Approved by the board on 22 January 2025
SURMAGATE LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Nil
Leasehold land and buildings Over 25 years
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 114,269
Additions 1,806,629
At 31 March 2024 1,920,898
Depreciation
At 1 April 2023 50,040
Charge for the year 4,588
At 31 March 2024 54,628
Net book value
At 31 March 2024 1,866,270
At 31 March 2023 64,229
4 Debtors 2024 2023
£ £
Arta Awards Ltd 50,000 50,000
Other debtors 32,972 -
82,972 50,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,247,504 -
Directors current account 657,127 -
Trade creditors 31,010 -
Taxation and social security costs 2,003 2,836
Other creditors 1,000 4,600
1,938,644 7,436
6 Creditors: amounts falling due after one year 2024 2023
£ £
Directors current account 90,078 90,078
7 Other information
SURMAGATE LTD is a private company limited by shares and incorporated in England. Its registered office is:
218A Brick Lane
London
E1 6SA
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