Registered number
04187190
Sumosan Limited
Filleted Accounts
For the year ended 31 December 2024
Sumosan Limited
Registered number: 04187190
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 6 2,703 2,130
Investments 8 2,506,943 2,506,943
2,509,646 2,509,073
Current assets
Debtors 10 1,413,433 938,726
Cash at bank and in hand 18,455 91,689
1,431,888 1,030,415
Creditors: amounts falling due within one year 11 (2,529,272) (2,718,129)
Net current liabilities (1,097,384) (1,687,714)
Total assets less current liabilities 1,412,262 821,359
Creditors: amounts falling due after more than one year 12 (2,615,584) (2,572,658)
Net liabilities (1,203,322) (1,751,299)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (1,204,322) (1,752,299)
Shareholders' funds (1,203,322) (1,751,299)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Wolkow
Director
Approved by the board on 21 March 2025
Sumosan Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section lA "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings 15% on reducing balance
Computer equipment 25% straight line
Investments in Joint venture & Associate
Investments in Joint Venture and assocaite undertakings are initial recognised at cost and subsequently
measured at fair value.
Debtors
Debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured different from those in which they are recognised in financial statements. Deferred tax is measured expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Foreign currency translation
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2 Other Operating Income
2024 2023
£ £
Creditors adjustment previous year 70,266
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
4 Comparable figures
Previous year figures have been regrouped or rearranged to make them comparable with current year figures.
5 Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Depreciation - owned assets 924 522
6 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 14,146
Additions 1,497
At 31 December 2024 15,643
Depreciation
At 1 January 2024 12,016
Charge for the year 924
At 31 December 2024 12,940
Net book value
At 31 December 2024 2,703
At 31 December 2023 2,130
7 Fixed Asset Investments 2024 2023
£ £
Joint Ventures 1,791,648 1,791,648
Other investments 715,295 715,295
2,506,943 2,506,943
8 Investments
Investment Joint Ventures Other investments Total
£ £ £
Cost
At 1 January 2024 1,791,648 715,295 2,506,943
At 31 December 2024 1,791,648 715,295 2,506,943
The company's investments at the Balance Sheet date in the share capital of companies include the following:
Joint venture
Sumosan Twiga Limited
Registered office: The Courtyard, 14a Sydenham Road, Croydon, CR0 2EE
Nature of business: Restaurateurs
Shares held in the Joint Venture are 743,725 ordinary shares and are the company's investment of 45%
shareholding in Sumosan Twiga Limited, a UK incorporated entity. This investment includes ordinary share
capital value of £743,725 and a Capitalised Contribution Loan of £1,047,923 (2023:£1,047,923)
%
Class of shares: holding
Ordinary 45
2024 2023
£ £
Investment in Sumosan Twiga Limited 743,725 743,725
Capitalised Contribution Loan 1,047,923 1,047,923
1,791,648 1,791,648
2024 2023
£ £
CAPITAL AND RESERVES(Sumosan Twiga Limited)
Shareholders fund 551,980 551,980
Loss for the year (335,030) (335,030)
The unlisted investment of £715,295 comprises two components related to the acquisition of 20% ordinary
share capital in Sumosan Restaurants LLC, a company incorporated in Dubai (UAE). The initial investment
amounted to £262,374, with subsequent additions of £452,921 made during the year. 
2024 2023
£ £
Investment in Sumosan Restaurants LLC 715,295 262,374
Additions during the year - 452,921
715,295 715,295
In the opinion of the director all the above investments represent a fair value of the shares held.
9 Fixed Asset Investments - Continued
Loans to
joint
ventures
£
At 1st January 2024 1,047,923
Repayment in year
At 31st December 2024 1,047,923
10 Debtors 2024 2023
£ £
Trade debtors 184,147 142,563
Other debtors 1,229,286 796,163
1,413,433 938,726
11 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,270 5,039
Amounts owed to joint ventures 50,101 50,101
Trade creditors 19,053 140,167
Taxation and social security costs 111,253 49,155
Other creditors 2,338,595 2,473,667
2,529,272 2,718,129
12 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,642 19,911
Amounts owed to group undertakings 2,605,942 2,552,747
2,615,584 2,572,658
13 Related Party Disclosures
At the end of the period, the director Ms J Wolkow, owed £15,691(2023: £61,280) to the company.
No interest was charged on the amount outstanding.
As at the balance sheet date the company owed £50,101 (2023: £50,101) to Sumosan Twiga Limited a
partly owned company.
During the period the company charged £1,28,333.34 for management fees to Sumosan Twiga Limited.
The company is connected to Sumosan Restaurant Limited, a company incorporated in Cyprus. At the
balance sheet date, the company owed Sumosan Restaurant Limited £2,605,942 (2023 £:2,552,748 ).
At the balance sheet date, the company owed £ 2,307,757 for royalties (2023: £2,426,527) owed to
Sumosan Restaurant Limited.
As at the balance sheet date the company was owed £1,500 (2023: £5012) from Oro Management Ltd.
Miss J Wolkow the director of Sumosan Ltd is also a director of Oro Management Ltd.
14 Ultimate Controlling Party
The ultimate controlling party is Miss Janina Wolkow by virtue of 100% owership of the share capital.
15 Going Concern
The director of the company has a reasonable expectation that the company will continue to receive financial support from it's associated companies and has adequate resources to continue in its operational existence for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly the company continues to adopt a going concern basis in preparing the financial statements despite having the negative reserves.
16 Other information
Sumosan Limited is a private company limited by shares and incorporated in England. Its registered office is:
Office 217,
33 Cavendish Square,
London,
W1G 0PW
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