SSQ Overseas Limited - Accounts to registrar (filleted) - small 18.2

SSQ Overseas Limited - Accounts to registrar (filleted) - small 18.2

SSQ OVERSEAS LIMITED - Company Information

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REGISTERED NUMBER: 08585836 (England and Wales)
















SSQ Overseas Limited

Financial Statements

for the Year Ended 31st December 2018





SSQ Overseas Limited (Registered number: 08585836)






Contents of the Financial Statements
for the Year Ended 31st December 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SSQ Overseas Limited

Company Information
for the Year Ended 31st December 2018







Director: Mr A H El-Helw





Registered office: 301 Elveden Road
Park Royal
London
NW10 7SS





Registered number: 08585836 (England and Wales)





Auditors: Nigel Wilson & Co
Registered Auditors
4th Floor
100 Fenchurch Street
London
EC3M 5JD
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SSQ Overseas Limited (Registered number: 08585836)

Statement of Financial Position
31st December 2018

2018 2017
Notes £    £    £    £   
Fixed assets
Intangible assets 3 50,121 77,700

Current assets
Stocks 731,192 604,272
Debtors 4 863,966 1,155,807
Cash at bank 236 387
1,595,394 1,760,466
Creditors
Amounts falling due within one year 5 713,943 975,956
Net current assets 881,451 784,510
Total assets less current liabilities 931,572 862,210

Capital and reserves
Called up share capital 25,000 25,000
Retained earnings 906,572 837,210
931,572 862,210

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 27th September 2019 and were signed by:





Mr A H El-Helw - Director


The notes form part of these financial statements

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SSQ Overseas Limited (Registered number: 08585836)

Notes to the Financial Statements
for the Year Ended 31st December 2018

1. Statutory information

SSQ Overseas 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" including the provisions of Section 1A "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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of seven years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured
at cost less any accumulated amortisation and any accumulated impairment losses.

Stocks
Stocks 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 year comprises current and deferred tax. Tax is recognised in the Statement of
Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the statement of financial position 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.

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SSQ Overseas Limited (Registered number: 08585836)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2018

3. Intangible fixed assets
Goodwill
£   
Cost
At 1st January 2018
and 31st December 2018 193,050
Amortisation
At 1st January 2018 115,350
Amortisation for year 27,579
At 31st December 2018 142,929
Net book value
At 31st December 2018 50,121
At 31st December 2017 77,700

4. Debtors: amounts falling due within one year
2018 2017
£    £   
Trade debtors 733,700 361,791
Amounts owed by group undertakings 747 664,497
Other debtors 129,519 129,519
863,966 1,155,807

5. Creditors: amounts falling due within one year
2018 2017
£    £   
Trade creditors (820,217 ) (250,592 )
Amounts owed to group undertakings 851,012 524,166
Taxation and social security 49,339 54,800
Other creditors 633,809 647,582
713,943 975,956

6. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Nilesh Patel FCCA (Senior Statutory Auditor)
for and on behalf of Nigel Wilson & Co

7. Contingent liabilities

The company is a joint guarantor of all monies and liabilities, now and hereafter, due by its associated
companies Spanish Slate Quarries UK Limited, SSQ Europe Limited and SSQ Global Holdings Limited
to its bankers.

8. Ultimate controlling party

The company's ultimate parent company is SSQ Global Holdings Limited and its ultimate controlling
party is Mr A H El-Helw by virtue of his majority shareholding in the parent company.

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