Company No:
Contents
DIRECTORS | Mr B Sutton |
Mr P C Sutton |
REGISTERED OFFICE | Whitestone Farmhouse |
Cornworthy | |
Totnes | |
Devon | |
TQ9 7HF | |
United Kingdom |
COMPANY NUMBER | 12118414 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Sigma House | |
Oak View Close | |
Edginswell Park | |
Torquay | |
TQ2 7FF |
Note | 2023 | 2022 | ||
£ | £ | |||
Current assets | ||||
Stocks | 3 |
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Debtors | 4 |
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Cash at bank and in hand |
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865,992 | 838,826 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (15,849) | (13,416) | ||
Total assets less current liabilities | (15,849) | (13,416) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account | (
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Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of Family Sutton Solutions Limited (registered number:
Mr P C Sutton
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Family Sutton Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Whitestone Farmhouse, Cornworthy, Totnes, Devon, TQ9 7HF, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The balance sheet reflects a deficiency of assets totalling £15,849 (2022: £13,416) and the company remains dependent upon the financial support provided by the directors. The directors have confirmed that this support will continue for at least one year from the balance sheet date, therefore the accounts have been prepared on a going concern basis.
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 stocks to their condition.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Work in progress |
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Other debtors |
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Accruals |
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Other creditors |
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Allotted, called-up and fully-paid | |||
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