Sundridge Holdings Limited Company accounts

SUNDRIDGE HOLDINGS LIMITED - Company Information

7 false false false true false false false false false false true false false false false false false No description of principal activity 2019-12-01 Sage Accounts Production Advanced 2020 - FRS102_2019 34,309 125,593 49,098 45,051 1,956 47,007 2,091 4,047 xbrli:pure xbrli:shares iso4217:GBP 01783754 2019-12-01 2020-11-30 01783754 2020-11-30 01783754 2019-11-30 01783754 2018-12-01 2019-11-30 01783754 2019-11-30 01783754 core:Subsidiary1 2019-12-01 2020-11-30 01783754 bus:RegisteredOffice 2019-12-01 2020-11-30 01783754 bus:LeadAgentIfApplicable 2019-12-01 2020-11-30 01783754 bus:Director1 2019-12-01 2020-11-30 01783754 bus:Director5 2019-12-01 2020-11-30 01783754 bus:CompanySecretary1 2019-12-01 2020-11-30 01783754 core:PatentsTrademarksLicencesConcessionsSimilar 2019-11-30 01783754 core:PatentsTrademarksLicencesConcessionsSimilar 2020-11-30 01783754 core:PlantMachinery 2019-11-30 01783754 core:FurnitureFittings 2019-11-30 01783754 core:PlantMachinery 2020-11-30 01783754 core:FurnitureFittings 2020-11-30 01783754 core:PlantMachinery 2019-12-01 2020-11-30 01783754 core:FurnitureFittings 2019-12-01 2020-11-30 01783754 core:ShareCapital 2018-12-01 2019-11-30 01783754 core:CapitalRedemptionReserve 2018-12-01 2019-11-30 01783754 core:RetainedEarningsAccumulatedLosses 2018-12-01 2019-11-30 01783754 core:RetainedEarningsAccumulatedLosses 2019-12-01 2020-11-30 01783754 core:WithinOneYear 2020-11-30 01783754 core:WithinOneYear 2019-11-30 01783754 core:ShareCapital 2020-11-30 01783754 core:ShareCapital 2019-11-30 01783754 core:CapitalRedemptionReserve 2020-11-30 01783754 core:CapitalRedemptionReserve 2019-11-30 01783754 core:RetainedEarningsAccumulatedLosses 2020-11-30 01783754 core:RetainedEarningsAccumulatedLosses 2019-11-30 01783754 core:ShareCapital 2018-11-30 01783754 core:CapitalRedemptionReserve 2018-11-30 01783754 core:RetainedEarningsAccumulatedLosses 2018-11-30 01783754 core:RestatedAmount 2018-11-30 01783754 core:RestatedAmount 2019-11-30 01783754 core:PatentsTrademarksLicencesConcessionsSimilar 2019-12-01 2020-11-30 01783754 core:PatentsTrademarksLicencesConcessionsSimilar 2019-11-30 01783754 core:CostValuation core:Non-currentFinancialInstruments 2020-11-30 01783754 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2020-11-30 01783754 core:Non-currentFinancialInstruments 2020-11-30 01783754 core:Non-currentFinancialInstruments 2019-11-30 01783754 core:PlantMachinery 2019-11-30 01783754 core:FurnitureFittings 2019-11-30 01783754 bus:SmallEntities 2019-12-01 2020-11-30 01783754 bus:AuditExemptWithAccountantsReport 2019-12-01 2020-11-30 01783754 bus:FullAccounts 2019-12-01 2020-11-30 01783754 bus:SmallCompaniesRegimeForAccounts 2019-12-01 2020-11-30 01783754 bus:PrivateLimitedCompanyLtd 2019-12-01 2020-11-30

COMPANY REGISTRATION NUMBER: 01783754

SUNDRIDGE HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

30 November 2020

SUNDRIDGE HOLDINGS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 NOVEMBER 2020

Contents	Pages

Officers and professional advisers	1

Directors' report	2

Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements	3

Statement of comprehensive income	4

Statement of financial position	5 to 6

Statement of changes in equity	7

Notes to the financial statements	8 to 12

SUNDRIDGE HOLDINGS LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	Mr J E Carroll
	M R Snelling

Company secretary	J E Carroll

Registered office	Vicarage Lane
	Hoo
	Rochester
	Kent
	United Kingdom
	ME3 9LW

Accountants	Opass Billings Wilson & Honey LLP
	Chartered Certified Accountants
	Numeric House
	98 Station Road
	Sidcup
	Kent
	DA15 7BY

SUNDRIDGE HOLDINGS LIMITED

DIRECTORS' REPORT

YEAR ENDED 30 NOVEMBER 2020

The directors present their report and the unaudited financial statements of the company for the year ended 30 November 2020 .

Directors

The directors who served the company during the year were as follows:

Mr J E Carroll
M R Snelling

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 31 August 2021 and signed on behalf of the board by:

Mr J E Carroll

Director

SUNDRIDGE HOLDINGS LIMITED

CHARTERED CERTIFIED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SUNDRIDGE HOLDINGS LIMITED

YEAR ENDED 30 NOVEMBER 2020

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 November 2020, which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Opass Billings Wilson & Honey LLP Chartered Certified Accountants

Numeric House 98 Station Road Sidcup Kent DA15 7BY

31 August 2021

SUNDRIDGE HOLDINGS LIMITED

STATEMENT OF COMPREHENSIVE INCOME

YEAR ENDED 30 NOVEMBER 2020

	2020	2019
Note	£	£
Turnover	329,101	967,642

Cost of sales	188,899	586,938
	----------	----------
Gross profit	140,202	380,704

Administrative expenses	140,618	263,650
Other operating income	29,254	–
	----------	----------
Operating profit	28,838	117,054

Income from other fixed asset investments		5,469	8,499
Other interest receivable and similar income		2	40
		----------	----------
Profit before taxation	5	34,309	125,593

Tax on profit	–	–
	--------	----------
Profit for the financial year and total comprehensive income	34,309	125,593
	--------	----------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

SUNDRIDGE HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

30 November 2020

	2020		2019
Note	£	£	£

Fixed assets

Intangible assets	6	2,091	4,047
Tangible assets	7	1,323	1,378
Investments	8	158,081	158,081
		----------	----------
		161,495	163,506

Current assets

Stocks		150,222	67,941
Debtors	9	92,364	188,175
Investments	10	8,939	3,470
Cash at bank and in hand		379,067	429,717
		----------	----------
		630,592	689,303

Creditors: amounts falling due within one year	11	128,395		192,986
		----------		----------
Net current assets			502,197	496,317
			----------	----------
Total assets less current liabilities			663,692	659,823
			----------	----------
Net assets			663,692	659,823
			----------	----------

Capital and reserves

Called up share capital		13,600	13,600
Capital redemption reserve	12	430,373	430,373
Profit and loss account	12	219,719	215,850
		----------	----------
Shareholders funds		663,692	659,823
		----------	----------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SUNDRIDGE HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 November 2020

These financial statements were approved by the board of directors and authorised for issue on 31 August 2021 , and are signed on behalf of the board by:

Mr J E Carroll

Director

Company registration number: 01783754

SUNDRIDGE HOLDINGS LIMITED

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 30 NOVEMBER 2020

	Called up share capital	Capital redemption reserve	Profit and loss account	Total
	£	£	£	£
At 1 December 2018	14,200	429,773	120,955	564,928

Profit for the year			125,593	125,593
	--------	----------	----------	----------
Total comprehensive income for the year	–	–	125,593	125,593

Dividends paid and payable	–	–	( 5,698)	( 5,698)
Redemption of shares	( 600)	600	( 25,000)	( 25,000)
	--------	----------	----------	----------
Total investments by and distributions to owners	( 600)	600	( 30,698)	( 30,698)

At 30 November 2019	13,600	430,373	215,850	659,823

Profit for the year			34,309	34,309
	--------	----------	----------	----------
Total comprehensive income for the year	–	–	34,309	34,309

Dividends paid and payable	–	–	( 30,440)	( 30,440)
	----	----	--------	--------
Total investments by and distributions to owners	–	–	( 30,440)	( 30,440)

	--------	----------	----------	----------
At 30 November 2020	13,600	430,373	219,719	663,692
	--------	----------	----------	----------

SUNDRIDGE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 NOVEMBER 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vicarage Lane, Hoo, Rochester, Kent, ME3 9LW, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through the income statement.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company's trading activities were impacted during the accounting period due to the coronavirus pandemic. The company was able to continue as a going concern due to the directors implementing measures to protect the company's assets and the company taking advantage of the government job retention scheme.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Patents and trademarks	-	5 years straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	5 years straight line
Fixtures and fittings	-	5 years straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

The government grants received by the company were in relation to the coronavirus job retention scheme. Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors

Debtors are initially recorded at fair value and are assessed for impairment at each year end date. If any impairments exist the debtors are re-measured to the present value of the expected future cash inflows.

Creditors

Creditors are initially recorded at fair value and are then re-measured to the present value of the expected future cash outflows.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2019: 7 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2020	2019
	£	£
Amortisation of intangible assets	1,956	2,051
Depreciation of tangible assets	787	694
	-------	-------

6. Intangible assets

	Patents and trademarks
	£
Cost
At 1 December 2019 and 30 November 2020	49,098
	--------
Amortisation
At 1 December 2019	45,051
Charge for the year	1,956
	--------
At 30 November 2020	47,007
	--------
Carrying amount
At 30 November 2020	2,091
	--------
At 30 November 2019	4,047
	--------

7. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 December 2019	6,349	8,182	14,531
Additions	–	732	732
	-------	-------	--------
At 30 November 2020	6,349	8,914	15,263
	-------	-------	--------
Depreciation
At 1 December 2019	5,357	7,796	13,153
Charge for the year	546	241	787
	-------	-------	--------
At 30 November 2020	5,903	8,037	13,940
	-------	-------	--------
Carrying amount
At 30 November 2020	446	877	1,323
	-------	-------	--------
At 30 November 2019	992	386	1,378
	-------	-------	--------

8. Investments

	Shares in group undertakings	Listed investments	Total
	£	£	£
Cost
At 1 December 2019 and 30 November 2020	1,587,500	158,081	1,745,581
	------------	----------	------------
Impairment
At 1 December 2019 and 30 November 2020	1,587,500	–	1,587,500
	------------	----------	------------

Carrying amount
At 30 November 2020	–	158,081	158,081
	------------	----------	------------
At 30 November 2019	–	158,081	158,081
	------------	----------	------------

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Sundridge Tackle Limited	Ordinary	99.99

9. Debtors

	2020	2019
	£	£
Trade debtors	17,362	59,330
Other debtors	75,002	128,845
	--------	----------
	92,364	188,175
	--------	----------

10. Investments

	2020	2019
	£	£
Other investments	8,939	3,470
	-------	-------

11. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	40,098	102,339
Social security and other taxes	3,488	3,177
Other creditors	84,809	87,470
	----------	----------
	128,395	192,986
	----------	----------

12. Reserves

Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.