By Suzannah Ltd 05874242 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is retail sale of clothing Digita Accounts Production Advanced 6.30.9574.0 true true 05874242 2023-04-01 2024-03-31 05874242 2024-03-31 05874242 bus:OrdinaryShareClass1 2024-03-31 05874242 core:CurrentFinancialInstruments 2024-03-31 05874242 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05874242 core:Non-currentFinancialInstruments 2024-03-31 05874242 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05874242 core:Goodwill 2024-03-31 05874242 core:FurnitureFittingsToolsEquipment 2024-03-31 05874242 core:LandBuildings 2024-03-31 05874242 1 2024-03-31 05874242 bus:SmallEntities 2023-04-01 2024-03-31 05874242 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05874242 bus:FullAccounts 2023-04-01 2024-03-31 05874242 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05874242 bus:RegisteredOffice 2023-04-01 2024-03-31 05874242 bus:Director1 2023-04-01 2024-03-31 05874242 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 05874242 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05874242 core:Goodwill 2023-04-01 2024-03-31 05874242 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05874242 core:LandBuildings 2023-04-01 2024-03-31 05874242 core:LeaseholdImprovements 2023-04-01 2024-03-31 05874242 core:PlantMachinery 2023-04-01 2024-03-31 05874242 1 2023-04-01 2024-03-31 05874242 countries:EnglandWales 2023-04-01 2024-03-31 05874242 2023-03-31 05874242 core:Goodwill 2023-03-31 05874242 core:FurnitureFittingsToolsEquipment 2023-03-31 05874242 core:LandBuildings 2023-03-31 05874242 2022-04-01 2023-03-31 05874242 2023-03-31 05874242 bus:OrdinaryShareClass1 2023-03-31 05874242 core:CurrentFinancialInstruments 2023-03-31 05874242 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05874242 core:Non-currentFinancialInstruments 2023-03-31 05874242 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05874242 core:FurnitureFittingsToolsEquipment 2023-03-31 05874242 core:LandBuildings 2023-03-31 05874242 1 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05874242

By Suzannah Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

By Suzannah Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

By Suzannah Ltd

(Registration number: 05874242)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

21,925

24,563

Current assets

 

Stocks

602,263

396,579

Debtors

6

321,686

57,758

Cash at bank and in hand

 

146,361

237,424

 

1,070,310

691,761

Creditors: Amounts falling due within one year

7

(322,115)

(156,237)

Net current assets

 

748,195

535,524

Total assets less current liabilities

 

770,120

560,087

Creditors: Amounts falling due after more than one year

7

(11,369)

(21,594)

Net assets

 

758,751

538,493

Capital and reserves

 

Called up share capital

8

2

2

Share premium reserve

505

505

Profit and loss account

758,244

537,986

Shareholders' funds

 

758,751

538,493

 

By Suzannah Ltd

(Registration number: 05874242)
Balance Sheet as at 31 March 2024

For the financial 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.

Director's 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 director acknowledges her 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 May 2025
 

.........................................
S Crabb
Director

 

By Suzannah Ltd

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

1

General information

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

The address of its registered office is:
3-4 Berkeley Mews
London
W1H 7AT
England

These financial statements were authorised for issue by the director on 11 May 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.

The financial statements are presented in Sterling (£). Monetary amounts in the financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

By Suzannah Ltd

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

Land and buildings - leasehold improvements

over the term of the lease

Furniture, fittings and equipment

over 5 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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.

 

By Suzannah Ltd

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 profit and loss account 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

By Suzannah Ltd

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2023 - 9).

 

By Suzannah Ltd

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

10,000

10,000

At 31 March 2024

10,000

10,000

Amortisation

At 1 April 2023

10,000

10,000

At 31 March 2024

10,000

10,000

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

23,564

58,443

82,007

Additions

-

10,580

10,580

Disposals

(23,564)

-

(23,564)

At 31 March 2024

-

69,023

69,023

Depreciation

At 1 April 2023

16,901

40,543

57,444

Charge for the year

2,350

6,555

8,905

Eliminated on disposal

(19,251)

-

(19,251)

At 31 March 2024

-

47,098

47,098

Carrying amount

At 31 March 2024

-

21,925

21,925

At 31 March 2023

6,663

17,900

24,563

Included within the net book value of land and buildings above is £Nil (2023 - £6,663) in respect of short leasehold land and buildings.
 

 

By Suzannah Ltd

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

847

10,658

Prepayments

17,524

14,457

Other debtors

303,315

32,643

 

321,686

57,758

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,285

9,972

Trade creditors

 

52,239

29,995

Taxation and social security

 

251,149

105,143

Accruals and deferred income

 

4,250

3,899

Other creditors

 

4,192

7,228

 

322,115

156,237

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

11,369

21,594

 

By Suzannah Ltd

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

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £0.01 each

215

2

215

2

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

11,369

21,594

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,225

9,972

Bank overdrafts

60

-

10,285

9,972

Bank borrowings

The HSBC bounce back loan is denominated in GBP with a nominal interest rate of 2.5%, and the final instalment is due on 14 May 2026. The carrying amount at year end is £21,595 (2023 - £31,566).

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments (rent) not included in the balance sheet is £Nil (2023 - £22,125).

11

Related party transactions

Included in other creditors is an amount of £ NIL (2023 - £194) owed to the director to the company. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of this loan.

Included in other debtors is an amount of £ 169,655 (2023 - £NIL) owed to the director to the company. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of this loan.