Company Registration No. 01683239 (England and Wales)
SUGARFLAIR UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
PAGES FOR FILING WITH REGISTRAR
SUGARFLAIR UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SUGARFLAIR UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2017
31 December 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
451,983
458,981
Current assets
Debtors
4
188
556
Cash at bank and in hand
878
736
1,066
1,292
Creditors: amounts falling due within one year
5
(407,056)
(432,336)
Net current liabilities
(405,990)
(431,044)
Total assets less current liabilities
45,993
27,937
Capital and reserves
Called up share capital
6
5,000
5,000
Profit and loss reserves
40,993
22,937
Total equity
45,993
27,937
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 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he 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 13 April 2018 and are signed on its behalf by:
Mrs KN Tinsley
A Tinsley
Director
Director
Company Registration No. 01683239
SUGARFLAIR UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
- 2 -
1
Accounting policies
Company information
Sugarflair UK Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
2a Armstrong Road, Manor Trading Estate, Benfleet, Essex, SS7 4PW.
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 are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for
rental of land.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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:
Freehold buildings
50 years straight line
1.4
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2016 - 0).
SUGARFLAIR UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
- 3 -
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2017 and 31 December 2017
466,562
Depreciation and impairment
At 1 January 2017
7,581
Depreciation charged in the year
6,998
At 31 December 2017
14,579
Carrying amount
At 31 December 2017
451,983
At 31 December 2016
458,981
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
-
556
Other debtors
188
-
188
556
5
Creditors: amounts falling due within one year
2017
2016
£
£
Amounts due to group undertakings
401,085
425,322
Corporation tax
5,971
7,014
407,056
432,336
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
5,000 Ordinary of £1 each
5,000
5,000
5,000
5,000
SUGARFLAIR UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
- 4 -
7
Related party transactions
Companies under common control
The company received a loan from a company under common control. No interest is payable on the loan.
At the balance sheet date the amount due to
the company under common control
was £
401,085
(201
6
- £4
25,322
)
8
Parent company
The parent company of Sugarflair UK Limited is Sugarflair Group Limited and its registered office is
2a Armstrong Road, Manor Trading Estate, Benfleet, Essex, United Kingdom, SS7 4PW
.