SSE Commercial Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04400133 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 March 2023

for

SSE Commercial Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S Silvester

Mrs C P Nelson

Mr C M Nelson

Mr T Silvester

REGISTERED OFFICE:

10-12 Mulberry Green

Old Harlow

Essex

CM17 0ET

REGISTERED NUMBER:

04400133 (England and Wales)

ACCOUNTANTS:

Giess Wallis Crisp LLP

10-12 Mulberry Green

Old Harlow

Essex

CM17 0ET

FIXED ASSETS

Tangible assets

4

58,449

73,837

CURRENT ASSETS

Debtors

5

611,406

273,950

Cash at bank

27,102

47,755

638,508

321,705

CREDITORS

Amounts falling due within one year

6

493,320

210,208

NET CURRENT ASSETS

145,188

111,497

TOTAL ASSETS LESS CURRENT LIABILITIES

203,637

185,334

CREDITORS

Amounts falling due after more than one year

7

(138,728

)

(123,329

)

PROVISIONS FOR LIABILITIES

(11,105

)

(14,029

)

NET ASSETS

53,804

47,976

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

53,704

47,876

SHAREHOLDERS' FUNDS

53,804

47,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2023 and were signed on its behalf by:

Mr C M Nelson - Director

Mr T Silvester - Director

1.	STATUTORY INFORMATION

SSE Commercial 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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

25% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2022

813

67,488

7,385

Additions

-

2,385

-

Disposals

-

-

-

At 31 March 2023

813

69,873

7,385

DEPRECIATION

At 1 April 2022

752

52,030

5,953

Charge for year

15

2,676

215

Eliminated on disposal

-

-

-

At 31 March 2023

767

54,706

6,168

NET BOOK VALUE

At 31 March 2023

46

15,167

1,217

At 31 March 2022

61

15,458

1,432

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2022

254,028

20,448

350,162

Additions

-

415

2,800

Disposals

(16,987

)

-

(16,987

)

At 31 March 2023

237,041

20,863

335,975

DEPRECIATION

At 1 April 2022

200,829

16,761

276,325

Charge for year

12,981

1,026

16,913

Eliminated on disposal

(15,712

)

-

(15,712

)

At 31 March 2023

198,098

17,787

277,526

NET BOOK VALUE

At 31 March 2023

38,943

3,076

58,449

At 31 March 2022

53,199

3,687

73,837

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2022

and 31 March 2023

16,055

DEPRECIATION

At 1 April 2022

9,282

Charge for year

1,693

At 31 March 2023

10,975

NET BOOK VALUE

At 31 March 2023

5,080

At 31 March 2022

6,773

5.

DEBTORS

2023

2022

£

£

Amounts falling due within one year:

Trade debtors

397,690

114,773

Other debtors

185,766

159,177

583,456

273,950

Amounts falling due after more than one year:

Other debtors

27,950

-

Aggregate amounts

611,406

273,950

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

78,034

42,484

Hire purchase contracts

2,837

3,404

Trade creditors

285,767

91,240

Taxation and social security

32,223

45,162

Other creditors

94,459

27,918

493,320

210,208

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

138,728

120,492

Hire purchase contracts

-

2,837

138,728

123,329

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

2,837

6,241

Obligations under finance leases and hire purchase contracts are secured on the assets concerned.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023

2022

£

£

Mrs C P Nelson

Balance outstanding at start of year

36,500

-

Amounts advanced

-

36,500

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

36,500

36,500

Mr C M Nelson

Balance outstanding at start of year

36,500

49,600

Amounts advanced

-

36,500

Amounts repaid

-

(49,600

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

36,500

36,500

Mrs S Silvester

Balance outstanding at start of year

36,500

-

Amounts advanced

-

36,500

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

36,500

36,500

Mr T Silvester

Balance outstanding at start of year

36,500

-

Amounts advanced

-

36,500

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

36,500

36,500