Company Registration No. 01683239 (England and Wales)
SUGARFLAIR UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2021
31 December 2021
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 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
423,991
430,989
Current assets
Debtors
5
1,145
150
Cash at bank and in hand
210,116
2,318
211,261
2,468
Creditors: amounts falling due within one year
6
(525,937)
(339,984)
Net current liabilities
(314,676)
(337,516)
Net assets
109,315
93,473
Capital and reserves
Called up share capital
5,000
5,000
Profit and loss reserves
104,315
88,473
Total equity
109,315
93,473
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 2021 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.
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 7 April 2022 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 2021
- 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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for
the rental of land and buildings.
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
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
SUGARFLAIR UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2020 - 2).
2021
2020
Number
Number
Total
2
2
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2021 and 31 December 2021
466,562
Depreciation and impairment
At 1 January 2021
35,573
Depreciation charged in the year
6,998
At 31 December 2021
42,571
Carrying amount
At 31 December 2021
423,991
At 31 December 2020
430,989
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
965
Other debtors
180
150
1,145
150
6
Creditors: amounts falling due within one year
2021
2020
£
£
Amounts owed to group undertakings
520,579
334,626
Corporation tax
5,358
5,358
525,937
339,984
SUGARFLAIR UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
7
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
.
8
Related party transactions
The company has taken advantage of the exemption in FRS 102.33.1A that transactions entered into
between members of the group do not need to be disclosed as all relevant subsidiaries are wholly owned.