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REGISTERED NUMBER: 07563372 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

SUKAT PROCESSING LTD

SUKAT PROCESSING LTD (REGISTERED NUMBER: 07563372)

Contents of the Financial Statements
for the year ended 30 June 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SUKAT PROCESSING LTD

Company Information
for the year ended 30 June 2024







Directors: Mr M Overton
Mrs K L Overton





Registered office: 23 Algitha Road
Skegness
Lincolnshire
PE25 2AG





Registered number: 07563372 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
23 Algitha Road
Skegness
United Kingdom
PE25 2AG

SUKAT PROCESSING LTD (REGISTERED NUMBER: 07563372)

Statement of Financial Position
30 June 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 10,000 10,000
Tangible assets 5 280,269 295,265
290,269 305,265

Current assets
Debtors 6 2,178 2,401
Cash at bank and in hand 4,163 904
6,341 3,305
Creditors
Amounts falling due within one year 7 94,470 84,489
Net current liabilities (88,129 ) (81,184 )
Total assets less current liabilities 202,140 224,081

Creditors
Amounts falling due after more than one year 8 (193,379 ) (204,869 )

Provisions for liabilities (16,591 ) (21,340 )
Net liabilities (7,830 ) (2,128 )

Capital and reserves
Called up share capital 10 1 1
Retained earnings 11 (7,831 ) (2,129 )
Shareholders' funds (7,830 ) (2,128 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SUKAT PROCESSING LTD (REGISTERED NUMBER: 07563372)

Statement of Financial Position - continued
30 June 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





Mr M Overton - Director


SUKAT PROCESSING LTD (REGISTERED NUMBER: 07563372)

Notes to the Financial Statements
for the year ended 30 June 2024


1. Statutory information

Sukat Processing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The Company had net current liabilities of £88,129 at 30 June 2024. (2023 £81,184). The Directors are owed £59,688 and are willing to support the Company in the future. The accounts have therefore been completed on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Boat - 15% on reducing balance
Plant, fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Fishing equipment - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SUKAT PROCESSING LTD (REGISTERED NUMBER: 07563372)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


2. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 3 ) .

4. Intangible fixed assets
Patents and
licences
£
Cost
At 1 July 2023
and 30 June 2024 10,000
Net book value
At 30 June 2024 10,000
At 30 June 2023 10,000

5. Tangible fixed assets
Plant,
fixtures
Freehold and
property Boat fittings
£ £ £
Cost
At 1 July 2023 182,950 129,976 18,668
Additions - - 3,000
At 30 June 2024 182,950 129,976 21,668
Depreciation
At 1 July 2023 - 80,320 6,325
Charge for year - 7,449 2,174
At 30 June 2024 - 87,769 8,499
Net book value
At 30 June 2024 182,950 42,207 13,169
At 30 June 2023 182,950 49,656 12,343

SUKAT PROCESSING LTD (REGISTERED NUMBER: 07563372)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


5. Tangible fixed assets - continued

Motor Fishing
vehicles equipment Totals
£ £ £
Cost
At 1 July 2023 42,022 76,625 450,241
Additions - - 3,000
At 30 June 2024 42,022 76,625 453,241
Depreciation
At 1 July 2023 33,762 34,569 154,976
Charge for year 2,064 6,309 17,996
At 30 June 2024 35,826 40,878 172,972
Net book value
At 30 June 2024 6,196 35,747 280,269
At 30 June 2023 8,260 42,056 295,265

6. Debtors: amounts falling due within one year
2024 2023
£ £
Other debtors 2,178 2,401

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 12,276 17,006
Hire purchase contracts 2,359 4,198
Trade creditors 2,522 2,522
Taxation and social security 15,665 14,579
Other creditors 61,648 46,184
94,470 84,489

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 193,379 204,869

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 156,551 166,239

SUKAT PROCESSING LTD (REGISTERED NUMBER: 07563372)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


9. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 2,359 4,198
Loan 172,711 180,823
175,070 185,021

The loans are secured against the Cheetah Marine Catamaran that was purchased in July 2016 and the Freehold property held by the Company.

The Hire purchase contract is secured against the Van that was purchased in June 2017.

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1 Ordinary £1 1 1

11. Reserves
Retained
earnings
£

At 1 July 2023 (2,129 )
Deficit for the year (5,702 )
At 30 June 2024 (7,831 )