SUGARVINE_LIMITED - Accounts


Company Registration No. 08094965 (England and Wales)
SUGARVINE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2023
30 April 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
SUGARVINE LIMITED
COMPANY INFORMATION
Directors
Mr A M Holland
Mr C Holland
Company number
08094965
Registered office
c/o PM+M
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
SUGARVINE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SUGARVINE LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,874
2,084
Current assets
Debtors
5
128,583
133,828
Creditors: amounts falling due within one year
6
(68,141)
(51,588)
Net current assets
60,442
82,240
Total assets less current liabilities
62,316
84,324
Creditors: amounts falling due after more than one year
7
(60,900)
(81,254)
Provisions for liabilities
(468)
(395)
Net assets
948
2,675
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
947
2,674
Total equity
948
2,675

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 3 November 2023 and are signed on its behalf by:
Mr A M Holland
Director
Company Registration No. 08094965
SUGARVINE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 2 -
1
Accounting policies
Company information

Sugarvine Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o PM+M, New Century House, Greenbank Technology Park, Challenge Way, Blackburn, Lancashire, BB1 5QB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, has been amortised

evenly over its estimated useful life of three years.

1.4
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% on reducing balance
Website
33% on cost
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

SUGARVINE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
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.

1.7
Leases

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

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
3
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
2,500
Amortisation and impairment
At 1 May 2022 and 30 April 2023
2,500
Carrying amount
At 30 April 2023
-
0
At 30 April 2022
-
0
SUGARVINE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
4
Tangible fixed assets
Fixtures and fittings
Website
Total
£
£
£
Cost
At 1 May 2022
8,207
7,067
15,274
Additions
108
-
0
108
At 30 April 2023
8,315
7,067
15,382
Depreciation and impairment
At 1 May 2022
6,123
7,067
13,190
Depreciation charged in the year
318
-
0
318
At 30 April 2023
6,441
7,067
13,508
Carrying amount
At 30 April 2023
1,874
-
0
1,874
At 30 April 2022
2,084
-
0
2,084
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
58,760
39,139
Amounts owed by group undertakings
53,823
44,189
Other debtors
16,000
50,500
128,583
133,828
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
23,307
20,903
Taxation and social security
38,538
24,215
Other creditors
6,296
6,470
68,141
51,588
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
60,900
81,254
SUGARVINE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
8
Operating lease commitments
Lessee

At the period end, the company had operating lease commitments of £1,841 (2022 - £3,863).

9
Secured debts

Other loans totalling £49,591 (2022 - £58,565) are secured by personal guarantees by the directors.

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