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Unaudited Financial Statements |
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for the Year Ended 28 February 2021 |
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for |
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A Suggitt Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 28 February 2021 |
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for |
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A Suggitt Limited |
A Suggitt Limited (Registered number: 00724517) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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A Suggitt Limited |
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Company Information |
for the Year Ended 28 February 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
3 Kingfisher Court |
Bowesfield Park |
Stockton on Tees |
TS18 3EX |
A Suggitt Limited (Registered number: 00724517) |
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Balance Sheet |
28 February 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
A Suggitt Limited (Registered number: 00724517) |
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Balance Sheet - continued |
28 February 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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A Suggitt Limited (Registered number: 00724517) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2021 |
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1. | STATUTORY INFORMATION |
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A Suggitt Limited is a
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The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
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The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Flat furnishings | - |
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In the opinion of the director the freehold property has a residual value in excess of the carrying value. As a result no depreciation has been charged during the year. |
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Government grants |
The company received government grants in respect of the Coronavirus Job Retention Scheme. These grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with the conditions attached to them. The grants were received using the accruals method. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
A Suggitt Limited (Registered number: 00724517) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a non-contributory defined contribution pension scheme. Premiums are charged to the Profit and Loss Account in the year in which they are paid. |
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Debtors and creditors receivable/payable |
Debtors and creditors with no stated interest rate and receivable or payable are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses. |
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Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 March 2020 |
and 28 February 2021 |
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DEPRECIATION |
At 1 March 2020 |
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Charge for year |
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At 28 February 2021 |
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NET BOOK VALUE |
At 28 February 2021 |
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At 29 February 2020 |
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A Suggitt Limited (Registered number: 00724517) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixtures |
and | Flat |
fittings | furnishings | Totals |
£ | £ | £ |
COST |
At 1 March 2020 |
and 28 February 2021 |
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DEPRECIATION |
At 1 March 2020 |
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Charge for year |
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At 28 February 2021 |
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NET BOOK VALUE |
At 28 February 2021 |
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At 29 February 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 578 | 578 |