Sussex Investments UK Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10551304 (England and Wales)

Financial Statements for the Year Ended 31 January 2023

for

Sussex Investments UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Tangible assets

4

1,600

1,420

Investment property

5

4,158,522

3,578,290

4,160,122

3,579,710

CURRENT ASSETS

Debtors

6

4,114

14,877

Cash at bank

59,106

167,806

63,220

182,683

CREDITORS

Amounts falling due within one year

7

2,417,433

2,086,057

NET CURRENT LIABILITIES

(2,354,213

)

(1,903,374

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,805,909

1,676,336

CREDITORS

Amounts falling due after more than one year

8

(1,136,526

)

(1,101,553

)

PROVISIONS FOR LIABILITIES

(59,243

)

(59,113

)

NET ASSETS

610,140

515,670

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

250,856

250,856

Retained earnings

359,184

264,714

610,140

515,670

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:

Mrs Sally Mady - Director

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.

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 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 February 2022

2,442

Additions

695

At 31 January 2023

3,137

DEPRECIATION

At 1 February 2022

1,022

Charge for year

515

At 31 January 2023

1,537

NET BOOK VALUE

At 31 January 2023

1,600

At 31 January 2022

1,420

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2022

3,578,290

Additions

580,232

At 31 January 2023

4,158,522

NET BOOK VALUE

At 31 January 2023

4,158,522

At 31 January 2022

3,578,290

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 January 2022 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Trade debtors

327

442

Other debtors

3,787

14,435

4,114

14,877

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Bank loans and overdrafts

23,491

82,575

Taxation and social security

26,923

26,797

Other creditors

2,367,019

1,976,685

2,417,433

2,086,057

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.23

31.1.22

£

£

Bank loans

1,128,720

1,093,127

Other creditors

7,806

8,426

1,136,526

1,101,553

9.	RELATED PARTY DISCLOSURES

Included in other creditors is £1,194,255 (2022 - £1,003,163) which is owed to Mr J Mady, a director and a shareholder of the company and £1,159,681 (2022 - £960,439) 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.