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Registration number: 08304520 (England and Wales)

SSS and Sons Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

SSS and Sons Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

SSS and Sons Ltd

Company Information

Directors

Mr Jagdeep Singh Sekhon

Mr Satvinder Singh Sekhon

Registered office

17 Harcourt Road
Dorney Reach
Maidenhead
SL6 0DT

Accountants

Aventus Partners Limited
Chartered AccountantsHygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

SSS and Sons Ltd

(Registration number: 08304520) (England and Wales)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

7

35,741

5,855

Current assets

 

Stocks

8

55,312

73,021

Debtors

9

14,286

16,543

Cash at bank and in hand

 

36,301

17,544

 

105,899

107,108

Creditors: Amounts falling due within one year

10

(49,354)

(28,685)

Net current assets

 

56,545

78,423

Total assets less current liabilities

 

92,286

84,278

Creditors: Amounts falling due after more than one year

10

(23,212)

(14,994)

Net assets

 

69,074

69,284

Capital and reserves

 

Called up share capital

12

100

100

Retained earnings

68,974

69,184

Shareholders' funds

 

69,074

69,284

For the financial year ending 30 November 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

The financial statements were approved and authorised for issue by the Board on 6 August 2025 and signed on its behalf by:
 

.........................................
Mr Satvinder Singh Sekhon
Director

   
     
 

SSS and Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
17 Harcourt Road
Dorney Reach
Maidenhead
SL6 0DT
United Kingdom

These financial statements were authorised for issue by the Board on 6 August 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 functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

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.

 

SSS and Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises 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 income 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

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Lease improvements

Over 6 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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 10 years

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.

 

SSS and Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

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.

 

SSS and Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

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.

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.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.


 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss if recognised in the Profit and loss account.

For financial assets measured as amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

SSS and Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

3

Staff numbers

The average monthly number of persons employed by the company (including directors) during the year, was 4 (2023: 4).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

7,752

1,952

Amortisation expense

-

6,000

5

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

-

5,880

UK corporation tax adjustment to prior periods

-

(1,129)

-

4,751

6

Intangible assets

Goodwill
 £

Cost

At 1 December 2023

60,000

At 30 November 2024

60,000

Amortisation

At 1 December 2023

60,000

At 30 November 2024

60,000

Carrying amount

At 30 November 2024

-

 

SSS and Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

7

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 December 2023

3,247

7,306

24,216

34,769

Additions

-

-

41,500

41,500

Disposals

-

-

(24,216)

(24,216)

At 30 November 2024

3,247

7,306

41,500

52,053

Depreciation

At 1 December 2023

2,435

6,574

19,905

28,914

Charge for the year

203

183

7,366

7,752

Eliminated on disposal

-

-

(20,354)

(20,354)

At 30 November 2024

2,638

6,757

6,917

16,312

Carrying amount

At 30 November 2024

609

549

34,583

35,741

At 30 November 2023

812

732

4,311

5,855

Included within the net book value of land and buildings above is £609 (2023 - £812) in respect of short leasehold land and buildings.
 

8

Stocks

2024
£

2023
£

Finished goods and goods for resale

55,312

73,021

 

SSS and Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

9

Debtors

2024
£

2023
£

Other debtors

12,578

14,834

Prepayments

1,708

1,709

14,286

16,543

10

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

15,258

10,648

Trade creditors

 

328

-

Other creditors

 

4,801

6,192

Taxation and social security

 

4,555

9,148

Accruals and deferred income

 

2,000

2,000

Directors current account

 

22,412

697

 

49,354

28,685

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

23,212

14,994

 

SSS and Sons Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

11

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,073

10,648

HP and finance lease liabilities

5,185

-

15,258

10,648

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,496

14,994

HP and finance lease liabilities

17,716

-

23,212

14,994

Bank borrowings consists of a government-backed Bounce Back Loan with a repayment term of 6 years from June 2021. The interest rate applicable to the loan is 2.5% with the first 12 months interest being covered by the government.

12

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

13

Dividends

2024

2023

£

£

Interim dividend of £300.00 (2023 - £160.00) per ordinary share

30,000

16,000