Richard Susskind & Co Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02377144 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Richard Susskind & Co Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Susskind

Mrs S J Susskind

SECRETARY:

T H Lawson

REGISTERED OFFICE:

Colonial Buildings

59-61 Hatton Garden

London

EC1N 8LS

REGISTERED NUMBER:

02377144 (England and Wales)

ACCOUNTANTS:

Lawson & Co.

18, The Lagger

Chalfont St. Giles

Bucks.

HP8 4DG

FIXED ASSETS

Tangible assets

4

3,917

5,737

Investments

5

100

100

4,017

5,837

CURRENT ASSETS

Debtors

6

108,386

80,967

Cash at bank

30,643

2,020

139,029

82,987

CREDITORS

Amounts falling due within one year

7

161,274

434,551

NET CURRENT LIABILITIES

(22,245

)

(351,564

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(18,228

)

(345,727

)

CREDITORS

Amounts falling due after more than one year

8

(32,301

)

(44,167

)

PROVISIONS FOR LIABILITIES

9

(744

)

-

NET LIABILITIES

(51,273

)

(389,894

)

CAPITAL AND RESERVES

Called up share capital

10

72

72

Share premium

11

74,951

74,951

Capital redemption reserve

11

41

41

Retained earnings

11

(126,337

)

(464,958

)

SHAREHOLDERS' FUNDS

(51,273

)

(389,894

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 26 September 2022 and were signed on its behalf by:

R Susskind - Director

1.	STATUTORY INFORMATION

Richard Susskind & Co 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.

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 etc

-

20% on cost and 10% on cost

Investments in associates

Investments in associate undertakings are recognised at 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.

Going concern

The accounts have been prepared on a going concern basis as the directors have indicated that they will continue to provide financial support, if required, and consider that the company retains sufficient working capital to continue trading for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

and 31 December 2021

28,220

DEPRECIATION

At 1 January 2021

22,483

Charge for year

1,820

At 31 December 2021

24,303

NET BOOK VALUE

At 31 December 2021

3,917

At 31 December 2020

5,737

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2021

and 31 December 2021

100

NET BOOK VALUE

At 31 December 2021

100

At 31 December 2020

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

72,315

1,114

Other debtors

36,071

79,853

108,386

80,967

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

11,178

93,476

Trade creditors

18,153

44,686

Taxation and social security

124,675

61,060

Other creditors

7,268

235,329

161,274

434,551

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

32,301

44,167

9.	PROVISIONS FOR LIABILITIES

31.12.21

£

Deferred tax

744

Deferred

tax

£

Balance at 1 January 2021

(55,984

)

Accelerated capital allowances

(252

)

Trading losses

56,980

Balance at 31 December 2021

744

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

5,098

A ordinary

£0.01

51

51

817

B ordinary

£0.01

8

8

1,256

C ordinary

£0.01

13

13

72

72

11.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 January 2021

(464,958

)

74,951

41

(389,966

)

Profit for the year

348,474

348,474

Dividends

(9,853

)

(9,853

)

At 31 December 2021

(126,337

)

74,951

41

(51,345

)

12.	OTHER FINANCIAL COMMITMENTS

At 31 December 2021 the company had annual commitments under operating leases expiring in over one year amounting to £40,164.

13.	RELATED PARTY DISCLOSURES

The company is controlled by directors and majority shareholders Mr. & Mrs. R. Susskind.