Sutton Court Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03569077 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2022

for

Sutton Court Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs B Ramdin

M Ramdin

REGISTERED OFFICE:

146 Ham Road

Worthing

BN11 2QS

REGISTERED NUMBER:

03569077 (England and Wales)

ACCOUNTANTS:

Clarke Goodhand Smith Limited

12a Marlborough Place

BRIGHTON

East Sussex

BN1 1WN

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

1,851,911

1,740,097

1,851,912

1,740,098

CURRENT ASSETS

Debtors

6

43,935

45,126

Cash at bank and in hand

400,789

345,296

444,724

390,422

CREDITORS

Amounts falling due within one year

7

144,875

154,360

NET CURRENT ASSETS

299,849

236,062

TOTAL ASSETS LESS CURRENT LIABILITIES

2,151,761

1,976,160

CREDITORS

Amounts falling due after more than one year

8

(127,836

)

(145,650

)

PROVISIONS FOR LIABILITIES

11

(4,202

)

(4,709

)

NET ASSETS

2,019,723

1,825,801

CAPITAL AND RESERVES

Called up share capital

12

104

104

Retained earnings

13

2,019,619

1,825,697

SHAREHOLDERS' FUNDS

2,019,723

1,825,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 August 2022 and were signed on its behalf by:

M Ramdin - Director

1.	STATUTORY INFORMATION

Sutton Court Homes 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 represents the invoiced total of fees charged in the year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of twenty 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Short leasehold

-

2% on cost

Improvements to property

-

not provided

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Taxation

Taxation for the year 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Freehold property

The policy of not providing depreciation on freehold property is in accordance with the revaluation model procedure laid down in Section 1A 'Small Entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The policy is a departure from the specific requirement of the Companies Act 2006 to provide depreciation on any fixed asset which has a limited useful economic life. The departure from the Companies Act 2006 requirement is for the overriding purpose of giving a true and fair view in accordance with Section 1A of Financial Reporting Standard 102.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2021 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2021

and 31 May 2022

2,611

AMORTISATION

At 1 June 2021

and 31 May 2022

2,610

NET BOOK VALUE

At 31 May 2022

1

At 31 May 2021

1

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Short

to

property

leasehold

property

£

£

£

COST

At 1 June 2021

1,103,780

41,296

570,122

Additions

-

-

117,335

At 31 May 2022

1,103,780

41,296

687,457

DEPRECIATION

At 1 June 2021

-

14,867

-

Charge for year

-

825

-

At 31 May 2022

-

15,692

-

NET BOOK VALUE

At 31 May 2022

1,103,780

25,604

687,457

At 31 May 2021

1,103,780

26,429

570,122

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2021

116,095

15,533

3,308

1,850,134

Additions

-

-

329

117,664

At 31 May 2022

116,095

15,533

3,637

1,967,798

DEPRECIATION

At 1 June 2021

81,429

12,486

1,255

110,037

Charge for year

3,466

762

797

5,850

At 31 May 2022

84,895

13,248

2,052

115,887

NET BOOK VALUE

At 31 May 2022

31,200

2,285

1,585

1,851,911

At 31 May 2021

34,666

3,047

2,053

1,740,097

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Sutton Court Associates Ltd

36,741

39,588

Prepayments and accrued income

7,194

5,538

43,935

45,126

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Other loans (see note 9)

17,814

17,077

Corporation tax

121,447

121,340

Social security and other taxes

1,079

11,410

Accruals and deferred income

4,535

4,533

144,875

154,360

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.22

31.5.21

£

£

Other loans (see note 9)

127,836

145,650

9.

LOANS

An analysis of the maturity of loans is given below:

31.5.22

31.5.21

£

£

Amounts falling due within one year or on demand:

Other loans

17,814

17,077

Amounts falling due between one and two years:

Other loans - 1-2 years

127,836

145,650

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.22

31.5.21

£

£

Other loans

145,650

162,727

The loan is secured by fixed and floating charges over the company assets.

11.	PROVISIONS FOR LIABILITIES

31.5.22

31.5.21

£

£

Deferred tax

4,202

4,709

Deferred

tax

£

Balance at 1 June 2021

4,709

Accelerated capital allowances

(507

)

Balance at 31 May 2022

4,202

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

31.5.22

31.5.21

£

£

100

Ordinary

£1.00

100.00

100.00

25

Ordinary A

£0.01

0.25

0.25

25

Ordinary B

£0.01

0.25

0.25

25

Ordinary C

£0.01

0.25

0.25

25

Ordinary D

£0.01

0.25

0.25

13.

RESERVES

Retained

earnings

£

At 1 June 2021

1,825,697

Profit for the year

514,857

Dividends

(320,935

)

At 31 May 2022

2,019,619

14.	RELATED PARTY DISCLOSURES

Included in debtors as at 31 May 2022 is an amount of £36,741 (2021: £39,588) owed by Sutton Court Associates Limited, a company controlled by the directors.

15.	CONTROLLING PARTY

The company was controlled by its directors throughout the period.