HH Sutton Ltd - Accounts to registrar (filleted) - small 23.1.2

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REGISTERED NUMBER: 08556944 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

FOR

HH SUTTON LTD

Page

Company Information

Statement of Financial Position

Notes to the Financial Statements

DIRECTORS:

C E Josefovitz

M Rothbart

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

08556944 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

3,227

3,796

Investment property

3,112,664

3,115,891

3,116,460

CURRENT ASSETS

Debtors

267,097

253,027

Cash at bank

19,048

16,400

286,145

269,427

CREDITORS

Amounts falling due within one year

(43,371

)

(51,152

)

NET CURRENT ASSETS

242,774

218,275

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,358,665

3,334,735

CREDITORS

Amounts falling due after more than one
year

(1,536,855

)

(1,587,685

)

PROVISIONS FOR LIABILITIES

(222,172

)

(222,172

)

NET ASSETS

1,599,638

1,524,878

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

1,112,418

Retained earnings

487,120

412,360

SHAREHOLDERS' FUNDS

1,599,638

1,524,878

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 and authorized for issue by the Board of Directors and authorised for issue on 26 July 2023 and were signed on its behalf by:

C E Josefovitz - Director

1.	STATUTORY INFORMATION

HH Sutton Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent and service charges receivable, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

15% 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

COST

At 1 August 2021

and 31 July 2022

8,023

DEPRECIATION

At 1 August 2021

4,227

Charge for year

569

At 31 July 2022

4,796

NET BOOK VALUE

At 31 July 2022

3,227

At 31 July 2021

3,796

6.	INVESTMENT PROPERTY

Total

FAIR VALUE

At 1 August 2021

and 31 July 2022

3,112,664

NET BOOK VALUE

At 31 July 2022

3,112,664

At 31 July 2021

3,112,664

The fair value of investment property was assessed to be unchanged by the director. The fair value was determined using open market valuation method. The director does not have a formal qualification but considerable experience in property market to ascertain the fair value with sufficient level of confidence.

Fair value at 31 July 2022 is represented by:

Valuation in 2016

1,034,590

Valuation in 2017

300,000

Cost

1,778,074

3,112,664

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

Trade debtors

6,329

Other debtors

260,768

253,027

267,097

253,027

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

Taxation and social security

12,322

20,902

Other creditors

31,049

30,250

43,371

51,152

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.7.22

31.7.21

Bank loans (see note 10)

1,536,855

1,587,685

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

550,710

Repayable by instalments

Bank loans more 5 yr by instal

986,145

1,587,685

10.

LOANS

An analysis of the maturity of loans is given below:

31.7.22

31.7.21

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

550,710

Repayable by instalments

Bank loans more 5 yr by instal

986,145

1,587,685

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.22

31.7.21

Bank loans

1,536,855

1,587,685

Bank loan is secured by a first charge over company's investment properties and bear interest at variable rates.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.22

31.7.21

value:

100

Ordinary

£1

100

13.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

At 1 August 2021

412,360

1,112,418

1,524,778

Profit for the year

74,760

At 31 July 2022

487,120

1,112,418

1,599,538

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C E Josefovitz.