Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-3024falsetrue2023-05-0128trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01081170 2023-05-01 2024-04-30 01081170 2022-05-01 2023-04-30 01081170 2024-04-30 01081170 2023-04-30 01081170 c:Director1 2023-05-01 2024-04-30 01081170 d:Buildings 2023-05-01 2024-04-30 01081170 d:Buildings 2024-04-30 01081170 d:Buildings 2023-04-30 01081170 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01081170 d:PlantMachinery 2023-05-01 2024-04-30 01081170 d:PlantMachinery 2024-04-30 01081170 d:PlantMachinery 2023-04-30 01081170 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01081170 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01081170 d:CurrentFinancialInstruments 2024-04-30 01081170 d:CurrentFinancialInstruments 2023-04-30 01081170 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 01081170 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 01081170 d:ShareCapital 2024-04-30 01081170 d:ShareCapital 2023-04-30 01081170 d:RetainedEarningsAccumulatedLosses 2024-04-30 01081170 d:RetainedEarningsAccumulatedLosses 2023-04-30 01081170 c:FRS102 2023-05-01 2024-04-30 01081170 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 01081170 c:FullAccounts 2023-05-01 2024-04-30 01081170 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 01081170 d:WithinOneYear 2024-04-30 01081170 d:WithinOneYear 2023-04-30 01081170 d:BetweenOneFiveYears 2024-04-30 01081170 d:BetweenOneFiveYears 2023-04-30 01081170 2 2023-05-01 2024-04-30 01081170 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 01081170










SWEETRIDGE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
SWEETRIDGE LIMITED
REGISTERED NUMBER: 01081170

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,636,634
1,668,606

  
1,636,634
1,668,606

Current assets
  

Stocks
 5 
11,743
12,210

Debtors: amounts falling due within one year
 6 
840,901
885,585

Cash at bank and in hand
 7 
101,177
60,010

  
953,821
957,805

Creditors: amounts falling due within one year
 8 
(3,916,316)
(3,746,203)

Net current liabilities
  
 
 
(2,962,495)
 
 
(2,788,398)

Total assets less current liabilities
  
(1,325,861)
(1,119,792)

  

Net liabilities
  
(1,325,861)
(1,119,792)


Capital and reserves
  

Called up share capital 
  
2,250,100
2,250,100

Profit and loss account
  
(3,575,961)
(3,369,892)

  
(1,325,861)
(1,119,792)


Page 1

 
SWEETRIDGE LIMITED
REGISTERED NUMBER: 01081170
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P T J Edmonds
Director
Date: 17 April 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SWEETRIDGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Sweetridge Limited is a private company limited by share capital, incorporated in England and Wales, registration number 01081170. The address of the registered office is London Beach Country Hotel, Ashford Road, St. Michaels, Tenterden, England, TN30 6HX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company's shareholders have confirmed that they will provide a loan finance to the company as and when necessary and will continue to do so for the foreseeable future. The director has therefore adopted the going concern basis of accounting. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Hire purchase contracts: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 3

 
SWEETRIDGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
in accordance with the property
Plant and machinery
-
20% and 10% on cost

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
SWEETRIDGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.
 
Page 5

 
SWEETRIDGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 28 (2023 - 24).

Page 6

 
SWEETRIDGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Land and Buildings
Plant and machinery
Total

£
£
£



Cost


At 1 May 2023
2,356,165
1,298,371
3,654,536


Additions
-
12,528
12,528



At 30 April 2024

2,356,165
1,310,899
3,667,064



Depreciation


At 1 May 2023
729,678
1,256,252
1,985,930


Charge for the year on owned assets
21,935
22,565
44,500



At 30 April 2024

751,613
1,278,817
2,030,430



Net book value



At 30 April 2024
1,604,552
32,082
1,636,634



At 30 April 2023
1,626,487
42,119
1,668,606




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Leasehold
1,604,552
1,626,487



5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
11,743
12,210


Page 7

 
SWEETRIDGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£


Trade debtors
62,782
66,557

Amount recoverable on contracts
487,136
454,733

Other debtors
249,323
246,332

Prepayments and accrued income
41,660
117,963

840,901
885,585








7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
101,177
60,010



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
330,801
112,324

Amounts owed to group undertakings
1,599,937
1,564,906

Other taxation and social security
29,926
38,940

Obligations under finance lease and hire purchase contracts
-
1,230

Other creditors
1,848,643
1,925,361

Accruals and deferred income
107,009
103,442

3,916,316
3,746,203



9.


Creditors: Amounts falling due after more than one year




Page 8

 
SWEETRIDGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £12,414 (2023 - £9,975). Contributions totalling £3,250 (2023 - £2,724) were payable to the fund at the balance sheet date and are included in creditors.


11.


Commitments under operating leases

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
20,800
31,200

Later than 1 year and not later than 5 years
-
20,800

20,800
52,000


12.


Client money

As at 30 April 2024 the company held client money of £1,724,212 (2023 - £2,225,784) which has not been included in the company's balance sheet as an asset with the corresponding liability, as the money belongs to the client and is held in trust by the company as agent on behalf of the clients.

 
Page 9