Surejogi Heathrow Limited - Limited company accounts 18.2

REGISTERED NUMBER: 08721917 (England and Wales)

Report of the Directors and

Financial Statements

for the Period 1 June 2017 to 31 March 2018

for

Surejogi Heathrow Limited

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Income Statement

5

Other Comprehensive Income

6

Balance Sheet

7

Statement of Changes in Equity

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

11

Directors:

Mrs S Sanger

Ms R Sanger

J P Sanger

G Sanger

Secretary:

J P Sanger

Registered office:

30 Poland Street

London

W1F 8QS

Registered number:

08721917 (England and Wales)

Auditors:

GKP Partnership Ltd

110 Viglen House

Alperton Lane

Wembley

London

HA0 1HD

The directors present their report with the financial statements of the company for the period 1 June 2017 to 31 March 2018.

Directors

The directors shown below have held office during the whole of the period from 1 June 2017 to the date of this report.

Mrs S Sanger

Ms R Sanger

J P Sanger

G Sanger

Statement of directors' responsibilities

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the

directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted

Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors

must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of

affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements,

the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible

for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of

fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies

Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought

to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish

that the company's auditors are aware of that information.

Auditors

The auditors, GKP Partnership Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to

small companies.

On behalf of the board:

G Sanger - Director

31 July 2019

Qualified Opinion

We have audited the financial statements of Surejogi Heathrow Limited (the 'company') for the period ended

31 March 2018 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of

Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements,

including a summary of significant accounting policies. The financial reporting framework that has been applied in their

preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted

Accounting Practice).

The accompanying financial statements are true and fair except for fixed asset balances and provisions fo liabilities.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.

Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the

financial statements section of our report. We are independent of the company in accordance with the ethical

requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard,

and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit

evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. We were unable to confirm

the validity of fixed asset balances as presented in the balance sheet. The company has failed to produce detailed

records of assets they own or control.

The company has failed to prove that a constructive or legal obligation exists for the basis of recognition of a provision

for repairs

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to

you where:

-	the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

-

the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report

of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise

explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing

so, consider whether the other information is materially inconsistent with the financial statements or our knowledge

obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or

apparent material misstatements, we are required to determine whether there is a material misstatement in the

financial statements or a material misstatement of the other information. If, based on the work we have performed, we

conclude that there is a material misstatement of this other information, we are required to report that fact. We have

nothing to report in this regard.

Management have not complied with Section 414A of the Companies Act 2006 to provide a strategic report.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the

audit, we have not identified material misstatements in the Report of the Directors.

As described in the basis of qualified opinion section of our report, the company has not maintained adequate records

of their fixed assets and has been unable to justify the balances stated in the financial statements.

Except for the matters described above, we have nothing to report on by exception on the following:

-	returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made.

-	the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are

responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view,

and for such internal control as the directors determine necessary to enable the preparation of financial statements

that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a

going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of

accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic

alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from

material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with

ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and

are considered material if, individually or in the aggregate, they could reasonably be expected to influence the

economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting

Council's website at www.frc.org.uk/auditorsresponsibilities . This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those

matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's

members as a body, for our audit work, for this report, or for the opinions we have formed.

Atul Sharma (Senior Statutory Auditor)

for and on behalf of GKP Partnership Ltd

110 Viglen House

Alperton Lane

Wembley

London

HA0 1HD

31 July 2019

Revenue

4,833,631

5,764,613

Cost of sales

(535,872

)

(425,383

)

Gross profit

4,297,759

5,339,230

Administrative expenses

(4,032,077

)

(4,994,500

)

265,682

344,730

Other operating income

54,053

1,271

Operating profit

4

319,735

346,001

Interest receivable and similar income

-

1,483

Profit before taxation

319,735

347,484

Tax on profit

5

(54,426

)

3,548

Profit for the financial period

265,309

351,032

Profit for the period

265,309

351,032

Other comprehensive income

-

-

Total comprehensive income for the period

265,309

351,032

Fixed assets

Property, plant and equipment

6

119,559

140,359

Current assets

Inventories

7

60,593

52,737

Debtors

8

8,384,113

7,331,631

Cash at bank and in hand

66,655

202,620

8,511,361

7,586,988

Creditors

Amounts falling due within one year

9

(7,690,331

)

(6,353,348

)

Net current assets

821,030

1,233,640

Total assets less current liabilities

940,589

1,373,999

Creditors

Amounts falling due after more than one year

10

-

(938,177

)

Provisions for liabilities

11

(985,683

)

(746,225

)

Net liabilities

(45,094

)

(310,403

)

Capital and reserves

Called up share capital

12

1,000

1,000

Retained earnings

13

(46,094

)

(311,403

)

Shareholders' funds

(45,094

)

(310,403

)

The financial statements were approved by the Board of Directors on 31 July 2019 and were signed on its behalf by:

G Sanger - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 June 2016

1,000

(662,435

)

(661,435

)

Changes in equity

Total comprehensive income

-

351,032

351,032

Balance at 31 May 2017

1,000

(311,403

)

(310,403

)

Changes in equity

Total comprehensive income

-

265,309

265,309

Balance at 31 March 2018

1,000

(46,094

)

(45,094

)

Cash flows from operating activities

Cash generated from operations

1

(73,899

)

124,942

Net cash from operating activities

(73,899

)

124,942

Cash flows from investing activities

Purchase of tangible fixed assets

(299

)

(4,649

)

Interest received

-

1,483

Net cash from investing activities

(299

)

(3,166

)

Cash flows from financing activities

New loans in year

(61,767

)

-

Net cash from financing activities

(61,767

)

-

(Decrease)/increase in cash and cash equivalents

(135,965

)

121,776

Cash and cash equivalents at beginning of period

2

202,620

80,844

Cash and cash equivalents at end of period

2

66,655

202,620

1.	Reconciliation of profit before taxation to cash generated from operations

Period

1.6.17

to

Year Ended

31.3.18

31.5.17

£

£

Profit before taxation

319,735

347,484

Depreciation charges

21,099

24,360

Finance income

-

(1,483

)

340,834

370,361

Increase in inventories

(7,856

)

(39,426

)

Decrease/(increase) in trade and other debtors

264,475

(2,009,082

)

(Decrease)/increase in trade and other creditors

(671,352

)

1,803,089

Cash generated from operations

(73,899

)

124,942

2.	Cash and cash equivalents

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of

these Balance Sheet amounts:

Period ended 31 March 2018

31.3.18

1.6.17

£

£

Cash and cash equivalents

66,655

202,620

Year ended 31 May 2017

31.5.17

1.6.16

£

£

Cash and cash equivalents

202,620

80,844

1.	Statutory information

Surejogi Heathrow 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue 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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

Taxation

Taxation for the period 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 period 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.

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.

3.	Employees and directors

Period

1.6.17

to

Year Ended

31.3.18

31.5.17

£

£

Wages and salaries

1,255,200

1,457,212

Social security costs

57,986

-

Other pension costs

6,146

-

1,319,332

1,457,212

The average number of employees during the period was as follows:

Period

1.6.17

to

Year Ended

31.3.18

31.5.17

60

65

Period

1.6.17

to

Year Ended

31.3.18

31.5.17

£

£

Directors' remuneration

-

-

4.	Operating profit

The operating profit is stated after charging:

Period

1.6.17

to

Year Ended

31.3.18

31.5.17

£

£

Depreciation - owned assets

21,099

24,360

Auditors' remuneration

3,400

6,000

5.

Taxation

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the period was as follows:

Period

1.6.17

to

Year Ended

31.3.18

31.5.17

£

£

Current tax:

UK corporation tax

52,966

-

Deferred tax

1,460

(3,548

)

Tax on profit

54,426

(3,548

)

6.	Property, plant and equipment

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

Cost

At 1 June 2017

161,035

2,597

67,686

231,318

Additions

299

-

-

299

At 31 March 2018

161,334

2,597

67,686

231,617

Depreciation

At 1 June 2017

57,364

1,241

32,354

90,959

Charge for period

15,596

203

5,300

21,099

At 31 March 2018

72,960

1,444

37,654

112,058

Net book value

At 31 March 2018

88,374

1,153

30,032

119,559

At 31 May 2017

103,671

1,356

35,332

140,359

7.	Inventories

31.3.18

31.5.17

£

£

Stocks

60,593

52,737

8.

Debtors: amounts falling due within one year

31.3.18

31.5.17

£

£

Trade debtors

361,096

416,453

Amounts owed by group undertakings

7,763,742

6,580,296

Prepayments and accrued income

259,275

334,882

8,384,113

7,331,631

9.

Creditors: amounts falling due within one year

31.3.18

31.5.17

£

£

Trade creditors

6,920,556

5,786,502

Amounts owed to group undertakings

100,000

20,925

Tax

52,966

-

Social security and other taxes

-

14,044

VAT

150,409

170,605

Other creditors

128,065

63,826

Accruals and deferred income

334,255

290,246

Accrued expenses

4,080

7,200

7,690,331

6,353,348

10.

Creditors: amounts falling due after more than one year

31.3.18

31.5.17

£

£

Other creditors

-

938,177

11.	Provisions for liabilities

31.3.18

31.5.17

£

£

Deferred tax

Accelerated capital allowances

1,460

25,265

Other provisions

Other provisions

938,604

720,960

Provisions for bad debts

45,619

-

984,223

720,960

Aggregate amounts

985,683

746,225

Deferred

Sinking

tax

Fund

£

£

Balance at 1 June 2017

25,265

746,225

Provided during period

(23,805

)

256,389

Balance at 31 March 2018

1,460

1,002,614

12.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.5.17

value:

£

£

1,000

Ordinary

1000

1,000

1,000

13.

Reserves

Retained

earnings

£

At 1 June 2017

(311,403

)

Profit for the period

265,309

At 31 March 2018

(46,094

)