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No description of principal activity
2023-04-01
Sage Accounts Production Advanced 2024 - FRS102_2024
1,550,000
1,550,000
1,550,000
100
100
100
xbrli:pure
xbrli:shares
iso4217:GBP
10516706
2023-04-01
2024-03-31
10516706
2024-03-31
10516706
2023-03-31
10516706
2022-04-01
2023-03-31
10516706
2023-03-31
10516706
2022-03-31
10516706
bus:LeadAgentIfApplicable
2023-04-01
2024-03-31
10516706
bus:Director1
2023-04-01
2024-03-31
10516706
core:WithinOneYear
2024-03-31
10516706
core:WithinOneYear
2023-03-31
10516706
core:AfterOneYear
2024-03-31
10516706
core:AfterOneYear
2023-03-31
10516706
core:ShareCapital
2024-03-31
10516706
core:ShareCapital
2023-03-31
10516706
core:OtherReservesSubtotal
2024-03-31
10516706
core:OtherReservesSubtotal
2023-03-31
10516706
core:RetainedEarningsAccumulatedLosses
2024-03-31
10516706
core:RetainedEarningsAccumulatedLosses
2023-03-31
10516706
core:HedgingReserve
2023-03-31
10516706
core:HedgingReserve
2022-03-31
10516706
core:HedgingReserve
2024-03-31
10516706
core:HedgingReserve
2023-03-31
10516706
core:HedgingReserve
2023-04-01
2024-03-31
10516706
core:CostValuation
core:Non-currentFinancialInstruments
2024-03-31
10516706
core:Non-currentFinancialInstruments
2024-03-31
10516706
core:Non-currentFinancialInstruments
2023-03-31
10516706
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-03-31
10516706
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-03-31
10516706
bus:SmallEntities
2023-04-01
2024-03-31
10516706
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
10516706
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
10516706
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
10516706
bus:FullAccounts
2023-04-01
2024-03-31
COMPANY REGISTRATION NUMBER:
10516706
Filleted Unaudited Financial Statements |
|
Year ended 31 March 2024
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
4 |
|
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Sure2B Limited |
|
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sure2B Limited for the year ended 31 March 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Sure2B Limited, as a body, in accordance with the terms of our engagement letter dated 16 March 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Sure2B Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sure2B Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Sure2B Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sure2B Limited. You consider that Sure2B 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 financial statements of Sure2B 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 statutory financial statements.
HEBBLETHWAITES
Chartered Accountants
2 Westbrook Court
Sharrow Vale Road
Sheffield
S11 8YZ
20 March 2025
Statement of Financial Position |
|
31 March 2024
Fixed assets
Tangible assets |
5 |
1,550,000 |
1,550,000 |
Investments |
6 |
100 |
100 |
|
------------ |
------------ |
|
1,550,100 |
1,550,100 |
|
|
|
|
Current assets
Debtors |
7 |
3,947 |
1,486 |
Cash at bank and in hand |
17,763 |
6,055 |
|
-------- |
------- |
|
21,710 |
7,541 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
341,006 |
533,982 |
|
--------- |
--------- |
Net current liabilities |
319,296 |
526,441 |
|
------------ |
------------ |
Total assets less current liabilities |
1,230,804 |
1,023,659 |
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
883,591 |
683,243 |
|
|
|
|
Provisions |
71,600 |
– |
|
------------ |
------------ |
Net assets |
275,613 |
340,416 |
|
------------ |
------------ |
|
|
|
Statement of Financial Position (continued) |
|
31 March 2024
Capital and reserves
Called up share capital |
100 |
100 |
Other reserves |
214,712 |
286,312 |
Profit and loss account |
60,801 |
54,004 |
|
--------- |
--------- |
Shareholders funds |
275,613 |
340,416 |
|
--------- |
--------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
20 March 2025
, and are signed on behalf of the board by:
Company registration number:
10516706
Notes to the Financial Statements |
|
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2 Westbrook Court, Sharrow Vale Road, Sheffield, South Yorkshire S11 8YZ. The place of business is Elldan Grove, Mill Lane, Brailsford, Ashbourne, Derbyshire, DE6 3BB.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, being rental income from investment properties.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4.
Government grants
Income from Government grants is in respect of the Business Bounce Back Loan Scheme.
5.
Tangible assets
|
Investment property |
|
£ |
Cost |
|
At 1 April 2023 and 31 March 2024 |
1,550,000 |
|
------------ |
Depreciation |
|
At 1 April 2023 and 31 March 2024 |
– |
|
------------ |
Carrying amount |
|
At 31 March 2024 |
1,550,000 |
|
------------ |
At 31 March 2023 |
1,550,000 |
|
------------ |
|
|
The investment properties are accounted for at their fair value as determined by the directors at each reporting date.
6.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 April 2023 and 31 March 2024 |
100 |
|
---- |
Impairment |
|
At 1 April 2023 and 31 March 2024 |
– |
|
---- |
|
|
Carrying amount |
|
At 31 March 2024 |
100 |
|
---- |
At 31 March 2023 |
100 |
|
---- |
|
|
This is the 100% interest in its subsidiary Clifton Park Developments Ltd.
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
3,572 |
– |
Other debtors |
375 |
1,486 |
|
------- |
------- |
|
3,947 |
1,486 |
|
------- |
------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
6,182 |
6,028 |
Amounts owed to group undertakings |
158,135 |
168,575 |
Other creditors |
176,689 |
359,379 |
|
--------- |
--------- |
|
341,006 |
533,982 |
|
--------- |
--------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
883,591 |
683,243 |
|
--------- |
--------- |
|
|
|
Borrowings of £876,120 (2023 £669,650) are in respect of interest only lending and are secured on the investment properties.
In addition there are total bank borrowings of £7,391 (2023 £19,621) in respect of a business bounce back loan repayable by monthly instalments with interest fixed at 2.5% per annum with the government acting as guarantor.
10.
Fair value reserve
The following movements on the fair value reserve are included within other reserves in the statement of changes in equity:
|
2024 |
2023 |
|
£ |
£ |
At start of year |
286,312 |
286,312 |
Tax relating to components of other comprehensive income |
(
71,600) |
– |
|
--------- |
--------- |
At end of year |
214,712 |
286,312 |
|
--------- |
--------- |
|
|
|
11.
Directors' advances, credits and guarantees
Included in creditors is a directors loan account of £46,964 (2023 £231,964). The loan is interest free with no formal repayments terms.
12.
Related party transactions
Included in creditors is an intercompany loan account balance of £158,134 (2023 £168,575) with Clifton Park Developments Limited.
13.
Controlling party
The controlling parties are the directors Mr & Mrs G Clark who own 100% of the share capital.