Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-301true2023-07-01falseOther business support service activities not elsewhere classified1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12791004 2023-07-01 2024-09-30 12791004 2022-07-01 2023-06-30 12791004 2024-09-30 12791004 2023-06-30 12791004 c:Director1 2023-07-01 2024-09-30 12791004 d:CurrentFinancialInstruments 2024-09-30 12791004 d:CurrentFinancialInstruments 2023-06-30 12791004 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 12791004 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12791004 d:ShareCapital 2024-09-30 12791004 d:ShareCapital 2023-06-30 12791004 d:RetainedEarningsAccumulatedLosses 2024-09-30 12791004 d:RetainedEarningsAccumulatedLosses 2023-06-30 12791004 c:FRS102 2023-07-01 2024-09-30 12791004 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-09-30 12791004 c:FullAccounts 2023-07-01 2024-09-30 12791004 c:PrivateLimitedCompanyLtd 2023-07-01 2024-09-30 12791004 e:PoundSterling 2023-07-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 12791004










SURGE PRODUCTS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

 
SURGE PRODUCTS LTD
REGISTERED NUMBER: 12791004

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

30 September
30 June
2024
2023
Note
£
£

  

Current assets
  

Debtors
  
2,190
3,735

Cash at bank and in hand
 4 
2,336
2,987

  
4,526
6,722

Creditors: amounts falling due within one year
 5 
-
(885)

Net current assets
  
 
 
4,526
 
 
5,837

Total assets less current liabilities
  
4,526
5,837

  

Net assets
  
4,526
5,837


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
4,516
5,827

  
4,526
5,837


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 January 2025.


A Caglayan
Director

The notes on pages 3 to 6 form part of these financial statements.
Page 1

 
SURGE PRODUCTS LTD
REGISTERED NUMBER: 12791004
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024


Page 2

 
SURGE PRODUCTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.


General information

Surge Products Ltd is a private company limited by share capital, incorporated in England & Wales, registration number 12791004. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Page 3

 
SURGE PRODUCTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.2
Revenue (continued)


Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.6

Creditors

Short-term creditors are measured at the transaction price.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Page 4

 
SURGE PRODUCTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the period was 1 (2023 - 1).


4.


Cash and cash equivalents

30 September
30 June
2024
2023
£
£

Cash at bank and in hand
2,336
2,987


Page 5

 
SURGE PRODUCTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

5.


Creditors: Amounts falling due within one year

30 September
30 June
2024
2023
£
£

Other creditors
-
885

-
885


 
Page 6