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COMPANY REGISTRATION NUMBER: 12745153
Sugra Investments Limited
Filleted Unaudited Financial Statements
31 March 2024
Sugra Investments Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
990,577
1,015,112
Current assets
Debtors
6
1,135
Cash at bank and in hand
1,807
11,195
-------
--------
1,807
12,330
Creditors: amounts falling due within one year
7
570,083
478,463
---------
---------
Net current liabilities
568,276
466,133
---------
------------
Total assets less current liabilities
422,301
548,979
Creditors: amounts falling due after more than one year
8
568,525
568,525
---------
---------
Net liabilities
( 146,224)
( 19,546)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 146,225)
( 19,547)
---------
--------
Shareholders deficit
( 146,224)
( 19,546)
---------
--------
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 income and retained earnings 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 .
Sugra Investments Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
Mr G B Goldfinch
Director
Company registration number: 12745153
Sugra Investments Limited
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 Elmcourt, Bullockstone Road, Herne Bay, CT6 7NR, United Kingdom.
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.
Going concern
The accounts have been prepared on the going concern basis as the directors will continue to support the business and believe the company is able to meet its debts as they fall due, for at least the next 12 months.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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 revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% straight line
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.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivables or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost or valuation
At 1 April 2023
999,955
16,511
1,016,466
Additions
49,238
49,238
Revaluations
( 71,193)
( 71,193)
---------
--------
------------
At 31 March 2024
978,000
16,511
994,511
---------
--------
------------
Depreciation
At 1 April 2023
1,354
1,354
Charge for the year
2,580
2,580
---------
--------
------------
At 31 March 2024
3,934
3,934
---------
--------
------------
Carrying amount
At 31 March 2024
978,000
12,577
990,577
---------
--------
------------
At 31 March 2023
999,955
15,157
1,015,112
---------
--------
------------
6. Debtors
2024
2023
£
£
Other debtors
1,135
----
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
426,660
426,660
Other creditors
143,423
51,803
---------
---------
570,083
478,463
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
568,525
568,525
---------
---------
9. Related party transactions
As at the balance sheet date £426,660 (2023: £426,660) was owing to entities connect with key management personnel. The loan is repayable on demand and included in other creditors falling due within one year. As at the balance sheet date £142,423 (2023: £51,803) was owing to key management personnel. The loan is interest free, repayable on demand and included in other creditors falling within one year.