2023-06-012024-05-312024-05-31false12629052SWEETS ASSOCIATES 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SWEETS ASSOCIATES LIMITED

Registered Number
12629052
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

SWEETS ASSOCIATES LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

Haffeeza Bhyat

Registered Address

5 Normandy Close
Glenfield
Leicester
LE3 8SZ

Registered Number

12629052 (England and Wales)
SWEETS ASSOCIATES LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets35,0007,500
Tangible assets46,29410,056
11,29417,556
Current assets
Debtors-7,145
Cash at bank and on hand2,9261,396
2,9268,541
Creditors amounts falling due within one year5(4,126)(4,077)
Net current assets (liabilities)(1,200)4,464
Total assets less current liabilities10,09422,020
Net assets10,09422,020
Capital and reserves
Called up share capital100100
Profit and loss account9,99421,920
Shareholders' funds10,09422,020
The financial statements were approved and authorised for issue by the Director on 21 February 2025, and are signed on its behalf by:
Haffeeza Bhyat
Director
Registered Company No. 12629052
SWEETS ASSOCIATES LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
2.Average number of employees

20242023
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 June 2312,50012,500
At 31 May 2412,50012,500
Amortisation and impairment
At 01 June 235,0005,000
Charge for year2,5002,500
At 31 May 247,5007,500
Net book value
At 31 May 245,0005,000
At 31 May 237,5007,500
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 June 2311,7107,68719,397
At 31 May 2411,7107,68719,397
Depreciation and impairment
At 01 June 235,7143,6279,341
Charge for year1,1992,5633,762
At 31 May 246,9136,19013,103
Net book value
At 31 May 244,7971,4976,294
At 31 May 235,9964,06010,056
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security-1,039
Other creditors2,9501,862
Accrued liabilities and deferred income1,1761,176
Total4,1264,077
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.