REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
SURESET UK LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
SURESET UK LIMITED |
SURESET UK LIMITED (REGISTERED NUMBER: 03334410) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 7 |
SURESET UK LIMITED |
COMPANY INFORMATION |
for the year ended 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
10 St Ann Street |
Salisbury |
Wiltshire |
SP1 2DN |
BANKERS: |
80 Market Place |
Warminster |
Wiltshire |
BA12 9AW |
SURESET UK LIMITED (REGISTERED NUMBER: 03334410) |
BALANCE SHEET |
31 July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium | 7 |
Capital redemption reserve | 7 |
Retained earnings | 7 |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SURESET UK LIMITED (REGISTERED NUMBER: 03334410) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Sureset Uk Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Revenue is measured at the fair value of the consideration received or receivable for the installation of permeable resin bound paving. |
Revenue is recognised on completion of projects and contract work, at which time the works are signed off and agreed by the customer and the significant risks and rewards of ownership of the work undertaken have transferred to the customer. |
Profit is recognised on long term projects when the final outcome can be assessed with reasonable certainty by including turnover and related costs within the profit and loss account dependent upon the stage of completion at the balance sheet date. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Stocks |
The company holds stocks of materials and consumables associated with permeable resin bound paving. As the stock is not subject to either physical or technological obsolescence it is valued at cost. |
Materials are issued to production on a first in first basis unless ordered for a specific job. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
SURESET UK LIMITED (REGISTERED NUMBER: 03334410) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 July 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. |
Debtors |
Debtors do not carry and interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. |
Creditors |
Creditors are not interest bearing and are stated at their nominal value. |
Cash and cash equivalents |
These comprise cash at bank and other short term highly liquid deposits. |
Reserves |
The movement in the fair value of plant and machinery and motor vehicles to open market value at the balance sheet date is recognised in a non-distributable reserve. This reserve, which also contains appropriate depreciation and deferred tax provisions, may not be distributed to shareholders. |
Any movements in the reserve are not liable to corporation tax and an appropriate deferred tax provision is provided within the reserve. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 August 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Cost or valuation at 31 July 2024 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2019 | - | 25,052 | 25,052 |
Valuation in 2022 | - | 10,000 | 10,000 |
Cost | 52,604 | 356,689 | 409,293 |
52,604 | 391,741 | 444,345 |
SURESET UK LIMITED (REGISTERED NUMBER: 03334410) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 July 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Tangible fixed assets have been uplifted to fair value at the balance sheet date. The comparable amounts for revalued assets at original cost were: |
31.7.24 | 31.7.23 |
£ | £ |
Cost | 356,689 | 359,742 |
Depreciation | (316,345 | ) | (306,808 | ) |
Net Book Value | 40,344 | 52,934 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | RESERVES |
31.7.24 | 31.7.23 |
£ | £ |
Distributable | 491,311 | 745,917 |
Non - distributable | 4,950 | 7,416 |
496,261 | 753,333 |
Movement in Non-distributable reserve | 31.7.24 | 31.7.23 |
£ | £ |
Balance brought forward | 7,416 | 9,882 |
Fair value uplift | - | - |
Movement in depreciation | (3,044 | ) | (3,044 | ) |
Movement in deferred tax | 578 | 578 |
Balance carried forward | 4,950 | 7,416 |
SURESET UK LIMITED (REGISTERED NUMBER: 03334410) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 July 2024 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023: |
31.7.24 | 31.7.23 |
£ | £ |
Balance outstanding at the start of the year | - | - |
Amounts advanced | 4,750 | - |
Amount repaid | (957 | ) | - |
Balance outstanding at the end of the year | 3,793 | - |
The loans are repayable on demand and subject to interest at commercial rates. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SURESET UK LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sureset Uk Limited for the year ended 31 July 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Sureset Uk Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sureset Uk Limited and state those matters that we have agreed to state to the Board of Directors of Sureset Uk Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sureset Uk Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Sureset Uk 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 loss of Sureset Uk Limited. You consider that Sureset Uk 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 Sureset Uk 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. |
10 St Ann Street |
Salisbury |
Wiltshire |
SP1 2DN |