Registered number
13957956
Sweets And Sour Ltd
Filleted Accounts
31 March 2024
Sweets And Sour Ltd
Registered number: 13957956
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,280 648
Current assets
Stocks 37,000 14,000
Debtors 4 15,524 13,223
Cash at bank and in hand 3,224 5,283
55,748 32,506
Creditors: amounts falling due within one year 5 (47,378) (5,518)
Net current assets 8,370 26,988
Total assets less current liabilities 10,650 27,636
Creditors: amounts falling due after more than one year 6 (14,479) -
Net (liabilities)/assets (3,829) 27,636
Capital and reserves
Called up share capital 2 2
Profit and loss account (3,831) 27,634
Shareholders' funds (3,829) 27,636
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Ms Georgia Mai Conlan Mr Charlie Weels
Director Director
Approved by the board on 26 March 2025 Approved by the board on 26 March 2025
Sweets And Sour Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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 over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 648
Additions 2,188
At 31 March 2024 2,836
Depreciation
Charge for the year 556
At 31 March 2024 556
Net book value
At 31 March 2024 2,280
At 31 March 2023 648
4 Debtors 2024 2023
£ £
Trade debtors 8,024 5,723
Rent Deposit 7,500 7,500
15,524 13,223
5 Creditors: amounts falling due within one year 2024 2023
£ £
Capital on Tap 18,956 -
Obligations under finance lease and hire purchase contracts 120 -
Trade creditors 14,629 1,148
Taxation and social security costs 3,665 7,567
Directors Loan Account - 1 6,233 (822)
Directors Loan Account - 2 7,060 2,858
Payroll Clearing 2,962 (506)
VAT (6,247) (4,724)
Other creditors - (3)
47,378 5,518
6 Creditors: amounts falling due after one year 2024 2023
£ £
Youlend 14,479 -
7 Other information
Sweets And Sour Ltd is a private company limited by shares and incorporated in England. Its registered office is:
79 High Street
Egham
England
TW20 9HE
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