Sweet Sugar Clothing Ltd 31/03/2025 iXBRL

Company registration number: NI631974

Sweet Sugar Clothing Ltd

Unaudited filleted financial statements

31 March 2025

Sweet Sugar Clothing Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Sweet Sugar Clothing Ltd

Directors and other information


	Director	Mr Shanti Sabherwal


	Company number	NI631974


	Registered office	Mullavilly
		Tandragee
		Portadown
		Armagh
		BT62 2NQ


	Business address	23-25 Magowan Buildings
		Portadown
		Armagh
		BT62 3PN


	Accountants	JSR
		44 Blackisland Road
		Annaghmore
		Portadown
		Armagh
		BT62 1NE




	Bankers	Danske Bank
		45-48 High Street
		Portadown
		Armagh
		BT62 1LB

Sweet Sugar Clothing Ltd

Report to the director on the preparation of the

unaudited statutory financial statements of Sweet Sugar Clothing Ltd

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sweet Sugar Clothing Ltd for the year ended 31 March 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.

This report is made solely to the director of Sweet Sugar Clothing Ltd, as a body, in accordance with the terms of our engagement letter dated 1 November 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Sweet Sugar Clothing Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sweet Sugar Clothing Ltd and its director as a body for our work or for this report.

It is your duty to ensure that Sweet Sugar Clothing Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sweet Sugar Clothing Ltd. You consider that Sweet Sugar Clothing Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sweet Sugar Clothing Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

JSR

Chartered Accountants

44 Blackisland Road

Annaghmore

Portadown

Armagh

BT62 1NE

4 December 2025

Sweet Sugar Clothing Ltd

Statement of financial position

31 March 2025

		2025		2024 (Restated)
	Note	£	£	£	£

Fixed assets
Tangible assets	5	34,562		39,550
		_______		_______
			34,562		39,550

Current assets
Stocks		119,515		125,882
Debtors	6	-		2,838
Cash at bank and in hand		3,385		3,217
		_______		_______
		122,900		131,937
Creditors: amounts falling due
within one year	7	( 117,458)		( 66,526)
		_______		_______
Net current assets			5,442		65,411
			_______		_______
Total assets less current liabilities			40,004		104,961

			_______		_______
Net assets			40,004		104,961
			_______		_______

Capital and reserves
Called up share capital			1		1
Profit and loss account			40,003		104,960
			_______		_______
Shareholder funds			40,004		104,961
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 04 December 2025 , and are signed on behalf of the board by:

Mr Shanti Sabherwal

Director

Company registration number: NI631974

Sweet Sugar Clothing Ltd

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 11 Richmond Manor, Mullavilly, Tandragee, Portadown, Armagh, BT62 2NQ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 27 (2024: 17 ).

5. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	50,372	15,500	8,400	74,272
	_______	_______	_______	_______
Depreciation
At 1 April 2024	26,131	6,315	2,276	34,722
Charge for the year	3,457	919	612	4,988
	_______	_______	_______	_______
At 31 March 2025	29,588	7,234	2,888	39,710
	_______	_______	_______	_______
Carrying amount
At 31 March 2025	20,784	8,266	5,512	34,562
	_______	_______	_______	_______
At 31 March 2024	24,241	9,185	6,124	39,550
	_______	_______	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	-	2,838
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	9	-
Trade creditors	27,116	58,486
Amounts owed to group undertakings and undertakings in which the company has a participating interest	( 252,581)	( 85,016)
Corporation tax	( 6)	( 6)
Social security and other taxes	59,980	36,765
Other creditors	282,940	56,297
	_______	_______
	117,458	66,526
	_______	_______

8. Prior period errors

1. During the year £32,336 was identified to have been inadvertently overstated in the previous reporting period. This error has now been corrected by way of a Prior Period Adjustment to reduce the level of Trade Creditors, with the opposing entry being credited against the various expenses. This has resulted in a reduction in the financial loss arising in that year. 2. During the preior year Other Creditors balance had been inadvertently overstated by £82,029. This error has now been corrected by way of a Prior Period Adjustment. Other creditors has been Restated, the correction has been allocated between Sales and VAT liability, and the resultant Loss for the financial year has been restated accordingly. The VAT has been accounted and is Restated. These adjustments have no Corporation Tax impact as the company's restated position is still a loss.

9. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Shanti Sabherwal	( 52,447)	( 227,056)	563	( 278,940)
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Shanti Sabherwal	( 2,547)	( 49,900)	-	( 52,447)
		_______	_______	_______	_______

Mr Shanti Sabherwal is the sole director and 100% shareholder of the company, as such he is the controlling party. During the year the company entered into a rental agreement with the director. The rental expense charged for the year to 31 March 2025 was £1,056 (2024:£1,056). The directors loan balance was in credit throughout the year.

10. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Sweet Sugar Clothing No 1 Ltd	286,172	254,701	278,940	75,747
Sweet Sugar Clothing No 2 Ltd	77,228	77,869	27,217	9,269
	_______	_______	_______	_______

- Sweet Sugar Clothing No 1 Ltd. This company is owned and directed by Mr Shanti Sabherwal . This company is related to Sweet Sugar Clothing Ltd on the grounds of common ownership and control. During the year, Sweet Sugar Clothing Ltd sold goods to the value of £286,172 to Sweet Sugar Clothing No 1 Ltd (2024; £254,701). At the year end Sweet Sugar Clothing Ltd was owed £225,364 from Sweet Sugar Clothing No 1 Ltd (2024; £75,747). - Sweet Sugar Clothing No 2 Ltd. This company is owned and directed by Mr Shanti Sabherwal. This company is related to Sweet Sugar Clothing Ltd on the grounds of common ownership and control. During the year, Sweet Sugar Clothing Ltd sold goods to the value of £77,228 to Sweet Sugar Clothing No 2 Ltd (2024; £77,869). At the year end Sweet Sugar Clothing Ltd was owed £27,217 from Sweet sugar Clothing No 2 Ltd (2024; the company was owed £9,269 from Sweet Sugar Clothing No 2 Ltdl).

11. Controlling party

Mr Shanti Sabherwal is the sole director and 100% shareholder of the company, as such he is the controlling party.