Susannah Cole Limited
Susannah Cole Limited
Registered number: 07229379
Unaudited Financial Statements
For The Year Ended
31 March 2023
Susannah Cole Limited
Unaudited Financial Statements
For The Year Ended
31 March 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Page 1
Susannah Cole Limited
Balance Sheet
As At
31 March 2023
Balance Sheet
Registered number:
07229379
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2023 | 2022 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Investment Properties | 4 |
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| Investments | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 8 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Fair Value Reserve | 11 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 1,039,379 | 944,031 | |||
Page 1
Page 2
Susannah Cole Limited
Balance Sheet (continued)
As At
31 March 2023
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Susannah Cole Limited
Notes to the Financial Statements
For The Year Ended
31 March 2023
Notes to the Financial Statements
1.
General Information
Susannah Cole Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
07229379
. The registered office is 184 Henleaze Road, Henleaze, Bristol, BS9 4NE.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Letting of rental property
Turnover from rental property comprises of income earned from letting property. Rents and service charges from
lettings are recognised net of losses from voids. Income is recognised from the date the property is first let.
2.3.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3.
Average Number of Employees
The average number of employees, including directors, during the year was 1 (2022: 1)
Page 3
Page 4
Susannah Cole Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
4.
Investment Property
| 2023 | |
|---|---|
| £ | |
| Fair Value | |
| As at
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| Additions |
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| As at
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5.
Investments
| Unlisted | |
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| £ | |
| Cost | |
| As at
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| As at
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| Provision | |
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| As at
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| Net Book Value | |
| As at
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| As at
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6.
Debtors
| 2023 | 2022 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| Other debtors |
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| Corporation tax recoverable assets |
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| Director's loan account |
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Included within other debtors is a £12,951 loan (2022: £13,140) to a connected company of the director.
7.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other creditors |
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Page 4
Page 5
Susannah Cole Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
8.
Creditors: Amounts Falling Due After More Than One Year
| 2023 | 2022 | ||
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| £ | £ | ||
| Other creditors |
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9.
Share Capital
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Allotted, Called up and fully paid |
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10.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Ms Susannah Cole |
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The above loan is unsecured and subject to a 2% interest charge per annum.
11.
Reserves
| Fair Value Reserve | |
|---|---|
| £ | |
| As at
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| Movements in fair value reserve | 102,900 |
| As at
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Page 5