Sugar Plum Accessories Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03667719 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

SUGAR PLUM ACCESSORIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Marc Nicholas Grayson

SECRETARY:

M J Grayson

REGISTERED OFFICE:

7 William Close

Gedling

Nottingham

NG4 5FS

REGISTERED NUMBER:

03667719 (England and Wales)

ACCOUNTANTS:

Collins Chapple & Co Limited

34a Musters Road

West Bridgford

Nottingham

NG2 7PL

FIXED ASSETS

Tangible assets

4

186

248

CURRENT ASSETS

Stocks

16,000

14,000

Debtors

5

3,123

4,017

Cash at bank and in hand

9,820

9,922

28,943

27,939

CREDITORS

Amounts falling due within one year

6

26,580

25,352

NET CURRENT ASSETS

2,363

2,587

TOTAL ASSETS LESS CURRENT LIABILITIES

2,549

2,835

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,449

2,735

SHAREHOLDERS' FUNDS

2,549

2,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 14 September 2020 and were signed by:

Marc Nicholas Grayson - Director

1.	STATUTORY INFORMATION

Sugar Plum Accessories 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.

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2019

and 31 December 2019

4,538

DEPRECIATION

At 1 January 2019

4,290

Charge for year

62

At 31 December 2019

4,352

NET BOOK VALUE

At 31 December 2019

186

At 31 December 2018

248

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

767

1,832

Other debtors

100

100

VAT

2,256

2,085

3,123

4,017

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans and overdrafts

9,316

4,530

Trade creditors

2,164

1,520

Social security and other taxes

-

400

Directors' loan accounts

13,266

17,068

Accrued expenses

1,834

1,834

26,580

25,352

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Marc Nicholas Grayson.