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Registered number: 02923577
SUREPIN (SOUTHERN) LIMITED
Unaudited Financial Statements
For The Year Ended 31 July 2024
Proaccounts UK
Unit M228, 89 Bickersteth Road
Tooting
LONDON
SW17 9SH
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 02923577
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 112,576 69,473
112,576 69,473
CURRENT ASSETS
Debtors 5 176,830 42,416
Cash at bank and in hand 62,633 100,572
239,463 142,988
Creditors: Amounts Falling Due Within One Year 6 (174,456 ) (104,545 )
NET CURRENT ASSETS (LIABILITIES) 65,007 38,443
TOTAL ASSETS LESS CURRENT LIABILITIES 177,583 107,916
Creditors: Amounts Falling Due After More Than One Year 7 (5,993 ) (27,776 )
NET ASSETS 171,590 80,140
CAPITAL AND RESERVES
Called up share capital 9 250 250
Profit and Loss Account 171,340 79,890
SHAREHOLDERS' FUNDS 171,590 80,140
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr JASON ARMSTRONG
Director
14/03/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
SUREPIN (SOUTHERN) LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 02923577 . The registered office is 97 Buckhurst Avenue, Carshalton, SM5 1NZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing baance
Fixtures & Fittings 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts 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 the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2023 34,528 112,848 11,270 158,646
Additions 437 59,995 - 60,432
Disposals - (18,120 ) - (18,120 )
As at 31 July 2024 34,965 154,723 11,270 200,958
...CONTINUED
Page 2
Page 3
Depreciation
As at 1 August 2023 34,482 43,711 10,980 89,173
Provided during the period 121 12,836 72 13,029
Disposals - (13,820 ) - (13,820 )
As at 31 July 2024 34,603 42,727 11,052 88,382
Net Book Value
As at 31 July 2024 362 111,996 218 112,576
As at 1 August 2023 46 69,137 290 69,473
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 160,187 25,773
Prepayments and accrued income 16,172 16,172
Other debtors 471 471
176,830 42,416
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,583 15,221
Trade creditors 27,786 23,257
Bank loans and overdrafts 15,173 15,173
Other taxes and social security 25,204 19,590
VAT 47,613 30,640
Other creditors 43,456 (4,397 )
Other creditors - credit cards & expenses 1,272 1,272
Other creditors - pension control account 692 112
Accruals and deferred income 3,677 3,677
174,456 104,545
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,246 2,246
Bank loans 3,747 25,530
5,993 27,776
Page 3
Page 4
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,583 15,221
Later than one year and not later than five years 2,246 2,246
11,829 17,467
11,829 17,467
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 250 250
Page 4