Sutro Group Ltd - Period Ending 2020-12-31
Sutro Group Ltd - Period Ending 2020-12-31
Registration number:
Sutro Group Ltd
Filleted
for the Period from 23 December 2019 to 31 December 2020
Sutro Group Ltd
Contents
Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Sutro Group Ltd
Company Information
Directors |
Mr G Drane Mr R Denmead |
Company secretary |
Mr R Denmead |
Registered office |
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Accountants |
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Sutro Group Ltd
(Registration number: 12376104)
Abridged Balance Sheet as at 31 December 2020
Note |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Accruals and deferred income |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
100 |
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Profit and loss account |
(16,676) |
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Shareholders' deficit |
(16,576) |
Sutro Group Ltd
(Registration number: 12376104)
Abridged Balance Sheet as at 31 December 2020
For the financial period ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
.........................................
Director
Sutro Group Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 23 December 2019 to 31 December 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Wales
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
Total liabilities exceed current assets at the balance sheet date. The directors consider, however that
the company with their continued support has sufficient liquid assets to meet its liabilities as and when
they fall due. Accordingly the directors considers that it is appropriate to prepare the accounts on a
going concern basis.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixture and fittings |
20% straight line |
Motor vehicle |
25% reducing balance |
Plant and machinery |
20% straight line |
Sutro Group Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 23 December 2019 to 31 December 2020
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Sutro Group Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 23 December 2019 to 31 December 2020
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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Additions |
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At 31 December 2020 |
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Depreciation |
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Charge for the period |
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At 31 December 2020 |
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Carrying amount |
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At 31 December 2020 |
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Creditors: amounts falling due within one year |
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £7,779.
Creditors: amounts falling due after more than one year |
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £52,311.
Share capital |
Allotted, called up and fully paid shares
2020 |
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No. |
£ |
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100 |
Sutro Group Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 23 December 2019 to 31 December 2020
New shares allotted
During the period |
Related party transactions |
Key management personnel
Relationship: Directors
Summary of transactions with key management