REGISTERED NUMBER: 04265494 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

SUSSEX RESEARCH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S W Newton

R J Butler

REGISTERED OFFICE:

22 Hill House Drive

Hampton

Middlesex

TW12 2FD

REGISTERED NUMBER:

04265494 (England and Wales)

AUDITORS:

Feist Hedgethorne Limited

Statutory Auditors

Chartered Accountants

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

BANKERS:

Bank of Scotland plc

London Chief Office Branch

PO Box 1000

Edinburgh

BX2 1LB

FIXED ASSETS

Tangible assets

4

155

775

Investments

5

413,742

413,743

413,897

414,518

CURRENT ASSETS

Debtors

6

13,422,441

14,071,595

Cash at bank and in hand

25,632

289,561

13,448,073

14,361,156

CREDITORS

Amounts falling due within one year

7

(1,749,843

)

(2,176,964

)

NET CURRENT ASSETS

11,698,230

12,184,192

TOTAL ASSETS LESS CURRENT LIABILITIES

12,112,127

12,598,710

CAPITAL AND RESERVES

Called up share capital

8

400,310

400,310

Retained earnings

11,711,817

12,198,400

SHAREHOLDERS' FUNDS

12,112,127

12,598,710

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2025 and were signed on its behalf by:

S W Newton - Director

1.	STATUTORY INFORMATION

Sussex Research Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Sussex Research Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Income recognition

Revenue is measured at the fair value of the consideration received or receivable, and is recognised as follows:

Sales of fixed assets: on completion of the transaction.

Dividend income: on receipt.

Loan interest receivable: in period due.

Tangible fixed assets

Tangible fixed assets held for the Company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rate in order to write off each asset over its useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Computer equipment

-

straight line over 3 years

Impairment review

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, bank loans, third party loans, related party loans and investments in non-puttable shares.

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

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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 using tax rates and laws that have been enacted or substantively enacted by the year end and that are 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 profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

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

The contributions are recognised as an expense in the income statement when they fall due. Amounts owed but not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

and 31 March 2025

3,427

DEPRECIATION

At 1 April 2024

2,652

Charge for year

620

At 31 March 2025

3,272

NET BOOK VALUE

At 31 March 2025

155

At 31 March 2024

775

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 April 2024

1

413,742

413,743

Disposals

-

(1

)

(1

)

At 31 March 2025

1

413,741

413,742

NET BOOK VALUE

At 31 March 2025

1

413,741

413,742

At 31 March 2024

1

413,742

413,743

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

3,496,397

3,494,057

Other debtors

73,254

323,583

3,569,651

3,817,640

2025

2024

£

£

Amounts falling due after more than one year:

Other debtors

9,852,790

10,253,955

Aggregate amounts

13,422,441

14,071,595

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,500

413

Taxation and social security

1,711

1,375

Other creditors

1,746,632

2,175,176

1,749,843

2,176,964

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

145,040

Ordinary A

£1

145,040

145,040

131,800

Ordinary B

£1

131,800

131,800

123,470

Ordinary C

£1

123,470

123,470

400,310

400,310

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Chris Morey (Senior Statutory Auditor)

for and on behalf of Feist Hedgethorne Limited

As the Directors' report and income statement have been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with section 444(5B) of the Companies Act 2006.

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Sussex Development Services LLP (SDS)

The company was a member of SDS until SDS was dissolved 16 July 2024.

During the period to 16 July 2024 the company paid expenses on behalf of SDS totalling £2,678 which was written-off as an irrecoverable loan.

S W Newton, director

During the year the company repaid the director £434,044.

At 31 March 2025 the following balance subsisted: Creditor - £1,720,038 (2024 - £2,154,082).