Sussex Investments UK Limited - Accounts to registrar (filleted) - small 18.2

Sussex Investments UK Limited - Accounts to registrar (filleted) - small 18.2

SUSSEX INVESTMENTS UK LIMITED - Company Information

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REGISTERED NUMBER: 10551304 (England and Wales)















Financial Statements for the Year Ended 31 January 2021

for

Sussex Investments UK Limited
Sussex Investments UK Limited (Registered number: 10551304)






Contents of the Financial Statements
for the Year Ended 31 January 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sussex Investments UK Limited

Company Information
for the Year Ended 31 January 2021







DIRECTORS: Mrs Sally Mady
Mr John Hosni Henry Mady





REGISTERED OFFICE: 36 Western Road
Hove
East Sussex
BN3 1AF





REGISTERED NUMBER: 10551304 (England and Wales)





ACCOUNTANTS: Atkinsons
Chartered Accountants
Palmeira Avenue Mansions
19 Church Road
Hove
East Sussex
BN3 2FA
Page 1
Sussex Investments UK Limited (Registered number: 10551304)

Balance Sheet
31 January 2021

31.1.21 31.1.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,118 353
Investment property 5 2,500,000 2,190,301
2,501,118 2,190,654

CURRENT ASSETS
Debtors 6 5,322 341
Cash at bank 189,688 241,748
195,010 242,089
CREDITORS
Amounts falling due within one year 7 1,086,470 1,132,327
NET CURRENT LIABILITIES (891,460 ) (890,238 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,609,658
1,300,416

CREDITORS
Amounts falling due after more than one
year
8
(1,131,859
)
(1,163,014
)

PROVISIONS FOR LIABILITIES (59,055 ) (67 )
NET ASSETS 418,744 137,335

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 250,856 -
Retained earnings 167,788 137,235
418,744 137,335

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 notes form part of these financial statements

Page 2 continued...
Sussex Investments UK Limited (Registered number: 10551304)

Balance Sheet - continued
31 January 2021


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 6 October 2021 and were signed on its behalf by:





Mrs Sally Mady - Director


The notes form part of these financial statements

Page 3
Sussex Investments UK Limited (Registered number: 10551304)

Notes to the Financial Statements
for the Year Ended 31 January 2021

1. STATUTORY INFORMATION

Sussex Investments UK 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 as modified by the revaluation of certain assets.

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.
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

Page 4 continued...
Sussex Investments UK Limited (Registered number: 10551304)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2021

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 February 2020 837
Additions 999
At 31 January 2021 1,836
DEPRECIATION
At 1 February 2020 484
Charge for year 234
At 31 January 2021 718
NET BOOK VALUE
At 31 January 2021 1,118
At 31 January 2020 353

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2020 2,190,301
Revaluations 309,699
At 31 January 2021 2,500,000
NET BOOK VALUE
At 31 January 2021 2,500,000
At 31 January 2020 2,190,301

Fair value at 31 January 2021 is represented by:
£   
Valuation in 2021 309,699
Cost 2,190,301
2,500,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.21 31.1.20
£    £   
Other debtors 5,322 341

Page 5 continued...
Sussex Investments UK Limited (Registered number: 10551304)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.21 31.1.20
£    £   
Bank loans and overdrafts 88,184 88,174
Trade creditors 349 -
Taxation and social security 7,021 15,410
Other creditors 990,916 1,028,743
1,086,470 1,132,327

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.21 31.1.20
£    £   
Bank loans 1,126,431 1,163,014
Other creditors 5,428 -
1,131,859 1,163,014

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 773,695 810,322

9. RELATED PARTY DISCLOSURES

Included in other creditors is £477,231 (2020 - £502,565) which is owed to Mr J Mady, a director and a shareholder of the company and £502,851 (2020 - £510,182) which is owed to Ms S Mady a director and a shareholder of the company. These loans are provided on an interest free basis and are repayable on demand.

No other transactions with related parties were undertaken such as are required to be disclosed under Section 1A Small Entities of Financial Reporting Standard 102.

Page 6