REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
FOR |
|
G. SUTER LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
FOR |
|
G. SUTER LIMITED |
G. SUTER LIMITED (REGISTERED NUMBER: 01264942) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Abridged Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
G. SUTER LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
SECRETARY: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
ACCOUNTANTS: |
|
Chartered Certified Accountants |
47 Calthorpe Road |
Edgbaston |
BIRMINGHAM |
B15 1TH |
|
|
|
BANKERS: |
|
15 Colmore Row |
Birmingham |
West Midlands |
B3 2BH |
|
|
|
INCORPORATION: |
|
G. SUTER LIMITED (REGISTERED NUMBER: 01264942) |
|
ABRIDGED BALANCE SHEET |
30TH SEPTEMBER 2020 |
|
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES | 6 |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 7 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
G. SUTER LIMITED (REGISTERED NUMBER: 01264942) |
|
ABRIDGED BALANCE SHEET - continued |
30TH SEPTEMBER 2020 |
|
|
|
|
|
|
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. |
|
|
|
|
|
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
|
|
|
|
|
|
|
|
G. SUTER LIMITED (REGISTERED NUMBER: 01264942) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
1. | STATUTORY INFORMATION |
|
G. Suter Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover represents the value of goods and services provided to the extent that there is a right to consideration and is recorded at the value of the consideration due. Turnover is recognised when the goods are physically delivered to the customer. |
|
Tangible fixed assets |
|
|
Fixtures and fittings - 15% reducing balance |
|
Government grants |
Government grants are recognised as income under the performance model. The government grants recognised in the financial statements are: |
|
Small Business Grant - £10,000 |
Job Retention Scheme - £2,483 |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
|
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties. |
|
G. SUTER LIMITED (REGISTERED NUMBER: 01264942) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
2. | ACCOUNTING POLICIES - continued |
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. |
|
Operating lease commitments |
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. |
|
The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. |
|
Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. |
|
Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. |
|
Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
G. SUTER LIMITED (REGISTERED NUMBER: 01264942) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
2. | ACCOUNTING POLICIES - continued |
|
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
|
Creditors |
Short term trade creditors are measured at the transaction price. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was NIL (2019 - NIL). |
|
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st October 2019 |
and 30th September 2020 |
|
DEPRECIATION |
At 1st October 2019 |
|
Charge for year |
|
At 30th September 2020 |
|
NET BOOK VALUE |
At 30th September 2020 |
|
At 30th September 2019 |
|
|
5. | LEASING AGREEMENTS |
|
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2020 | 2019 |
£ | £ |
Within one year |
|
|
|
The total lease payments recognised as an expense during the year was £4,423. |
|
6. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax | 65 | 68 |
G. SUTER LIMITED (REGISTERED NUMBER: 01264942) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
6. | PROVISIONS FOR LIABILITIES - continued |
|
Deferred |
tax |
£ |
Balance at 1st October 2019 |
|
Provided during the year | (3 | ) |
Balance at 30th September 2020 |
|
|
7. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
|
Ordinary A | £1 | 2,010 | 2,010 |
|
Ordinary B | £1 | 500 | 500 |
2,510 | 2,510 |
|
8. | RELATED PARTY DISCLOSURES |
|
As at the year end the amount due to the directors totalled £159,559 (2019 - £166,020). The loans are interest free and repayable upon demand. |