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

REGISTERED NUMBER: 04937410 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2021

for

Sutton Court Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Ramdin

Mrs B Ramdin

REGISTERED OFFICE:

146 Ham Road

Worthing

England

BN11 2QS

REGISTERED NUMBER:

04937410 (England and Wales)

ACCOUNTANTS:

Clarke Goodhand Smith Limited

12a Marlborough Place

BRIGHTON

East Sussex

BN1 1WN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,428,805

2,432,765

2,428,805

2,432,765

CURRENT ASSETS

Debtors

6

4,489

89,670

Cash at bank and in hand

895,077

584,910

899,566

674,580

CREDITORS

Amounts falling due within one year

7

316,627

330,022

NET CURRENT ASSETS

582,939

344,558

TOTAL ASSETS LESS CURRENT LIABILITIES

3,011,744

2,777,323

CREDITORS

Amounts falling due after more than one year

8

(958,664

)

(1,080,111

)

PROVISIONS FOR LIABILITIES

10

(14,933

)

(19,267

)

NET ASSETS

2,038,147

1,677,945

CAPITAL AND RESERVES

Called up share capital

11

101

101

Retained earnings

12

2,038,046

1,677,844

SHAREHOLDERS' FUNDS

2,038,147

1,677,945

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 24 September 2021 and were signed on its behalf by:

M Ramdin - Director

1.	STATUTORY INFORMATION

Sutton Court Associates 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 invoiced fees raised in the year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five 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

Improvements to property

-

not provided

Plant and machinery

-

20% on reducing balance

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.

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 43 (2020 - 40 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2020

and 31 May 2021

100,000

AMORTISATION

At 1 June 2020

and 31 May 2021

100,000

NET BOOK VALUE

At 31 May 2021

-

At 31 May 2020

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 June 2020

2,104,313

210,693

42,547

Additions

-

-

9,383

At 31 May 2021

2,104,313

210,693

51,930

DEPRECIATION

At 1 June 2020

-

-

36,617

Charge for year

-

-

3,063

At 31 May 2021

-

-

39,680

NET BOOK VALUE

At 31 May 2021

2,104,313

210,693

12,250

At 31 May 2020

2,104,313

210,693

5,930

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2020

332,711

24,603

1,798

2,716,665

Additions

-

1,495

895

11,773

At 31 May 2021

332,711

26,098

2,693

2,728,438

DEPRECIATION

At 1 June 2020

226,456

19,243

1,584

283,900

Charge for year

10,625

1,714

331

15,733

At 31 May 2021

237,081

20,957

1,915

299,633

NET BOOK VALUE

At 31 May 2021

95,630

5,141

778

2,428,805

At 31 May 2020

106,255

5,360

214

2,432,765

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Sutton Court Homes Ltd

-

85,412

Prepayments and accrued income

4,489

4,258

4,489

89,670

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Mortgage

134,932

93,233

Tax

128,934

94,217

Social security and other taxes

11,338

15,821

Hylife Investment Ltd

-

125,000

Sutton Court Homes Ltd

39,588

-

Directors' loan accounts

11

11

Accrued expenses

1,824

1,740

316,627

330,022

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.21

31.5.20

£

£

Mortgage - 1-2 years

135,467

93,741

Mortgage - 2-5 years

409,897

284,547

Mortgage

413,300

701,823

958,664

1,080,111

Amounts falling due in more than five years:

Repayable by instalments

Mortgage

413,300

701,823

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.21

31.5.20

£

£

Mortgage

1,093,596

1,173,344

The mortgages are secured by a first charge held on the properties concerned, being 15 and 17 Shakespeare Road, Baytree House and 10 Exmoor Crescent.

10.	PROVISIONS FOR LIABILITIES

31.5.21

31.5.20

£

£

Deferred tax

14,933

19,267

Deferred

tax

£

Balance at 1 June 2020

19,267

Accelerated capital allowances

(4,334

)

Balance at 31 May 2021

14,933

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

31.5.19

31.5.18

£

£

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

12.

RESERVES

Retained

earnings

£

At 1 June 2020

1,677,844

Profit for the year

554,785

Dividends

(194,583

)

At 31 May 2021

2,038,046

13.	RELATED PARTY DISCLOSURES

Included in 'Creditors:Amounts falling due within one year' as at 31 May 2021 is an amount of £39,588 (2020 Debtor: £85,412) owed to Sutton Court Homes Limited, a company controlled by the directors.

14.	CONTROLLING PARTY

The company was controlled by its directors throughout the period.