2 2 S.U.V.me Ltd 11913377 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of sales of used motor vehicles. Digita Accounts Production Advanced 6.30.9574.0 true 11913377 2024-01-01 2024-12-31 11913377 2024-12-31 11913377 core:CurrentFinancialInstruments 2024-12-31 11913377 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 11913377 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 11913377 core:FurnitureFittingsToolsEquipment 2024-12-31 11913377 core:LandBuildings 2024-12-31 11913377 bus:SmallEntities 2024-01-01 2024-12-31 11913377 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11913377 bus:FilletedAccounts 2024-01-01 2024-12-31 11913377 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11913377 bus:RegisteredOffice 2024-01-01 2024-12-31 11913377 bus:Director1 2024-01-01 2024-12-31 11913377 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11913377 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 11913377 core:LandBuildings 2024-01-01 2024-12-31 11913377 core:LeaseholdImprovements 2024-01-01 2024-12-31 11913377 countries:England 2024-01-01 2024-12-31 11913377 2023-12-31 11913377 core:FurnitureFittingsToolsEquipment 2023-12-31 11913377 core:LandBuildings 2023-12-31 11913377 2023-01-01 2023-12-31 11913377 2023-12-31 11913377 core:CurrentFinancialInstruments 2023-12-31 11913377 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11913377 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 11913377 core:FurnitureFittingsToolsEquipment 2023-12-31 11913377 core:LandBuildings 2023-12-31 xbrli:pure iso4217:GBP

S.U.V.me Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

Registration number: 11913377

 

S.U.V.me Ltd

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 5

 

S.U.V.me Ltd

(Registration number: 11913377)
Statement of financial position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,337

7,232

Current assets

 

Stocks

5

147,969

374,028

Debtors

6

3,205

10,964

Cash at bank and in hand

 

604

307

 

151,778

385,299

Creditors: Amounts falling due within one year

7

(115,888)

(149,419)

Net current assets

 

35,890

235,880

Total assets less current liabilities

 

38,227

243,112

Creditors: Amounts falling due after more than one year

7

(199,560)

(404,904)

Net liabilities

 

(161,333)

(161,792)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(161,433)

(161,892)

Shareholders' deficit

 

(161,333)

(161,792)

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 7 April 2025 and signed on its behalf by:
 

.........................................
Mr J Thorpe
Director

 

S.U.V.me Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 7 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

S.U.V.me Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold

10% straight line

Furniture and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

S.U.V.me Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

13,441

3,307

16,748

Disposals

(8,557)

-

(8,557)

At 31 December 2024

4,884

3,307

8,191

Depreciation

At 1 January 2024

6,720

2,796

9,516

Charge for the year

773

128

901

Eliminated on disposal

(4,563)

-

(4,563)

At 31 December 2024

2,930

2,924

5,854

Carrying amount

At 31 December 2024

1,954

383

2,337

At 31 December 2023

6,721

511

7,232

Included within the net book value of land and buildings above is £1,954 (2023 - £6,720) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

147,969

374,028

6

Debtors

Current

2024
£

2023
£

Trade debtors

949

-

Prepayments

2,256

3,464

Other debtors

-

7,500

 

3,205

10,964

 

S.U.V.me Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

96,936

132,453

Trade creditors

 

7,574

7,946

Taxation and social security

 

5,659

4,160

Accruals and deferred income

 

5,719

4,860

 

115,888

149,419

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

199,560

404,904

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

96,936

132,453

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £Nil (2023 - £12,000).