Company Registration No. 07594914 (England and Wales)
SUN STREET CREATIVE LTD
Unaudited accounts
for the year ended 30 April 2023
SUN STREET CREATIVE LTD
Unaudited accounts
Contents
SUN STREET CREATIVE LTD
Company Information
for the year ended 30 April 2023
Directors
Sandra Pool
Paul Smith
Company Number
07594914 (England and Wales)
Registered Office
20 WELL ROW
BAYFORD
HERTFORD
SG13 8PW
ENGLAND
SUN STREET CREATIVE LTD
Statement of financial position
as at 30 April 2023
Tangible assets
3,419
3,679
Cash at bank and in hand
-
733
Creditors: amounts falling due within one year
(6,397)
(353)
Net current assets
4,819
12,268
Total assets less current liabilities
8,238
15,947
Creditors: amounts falling due after more than one year
(13,018)
(15,225)
Provisions for liabilities
Net (liabilities)/assets
(5,402)
50
Called up share capital
2
2
Profit and loss account
(5,404)
48
Shareholders' funds
(5,402)
50
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2023 and were signed on its behalf by
Sandra Pool
Director
Company Registration No. 07594914
SUN STREET CREATIVE LTD
Notes to the Accounts
for the year ended 30 April 2023
SUN STREET CREATIVE LTD is a private company, limited by shares, registered in England and Wales, registration number 07594914. The registered office is 20 WELL ROW, BAYFORD, HERTFORD, SG13 8PW, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% on reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
COVID-19 grants are recognised as Other operating income according to GAAP
SUN STREET CREATIVE LTD
Notes to the Accounts
for the year ended 30 April 2023
The directors have considered the company's cash flow forecast for a period of 12 months from the date of approval of these financial statements and are satisfied that, taking account of possible changes in trading performance and the current funds available, the company is able to continue to operate for at least 12 months from the date of approval of these financial statements.
Furthermore, the directors has committed to support the company by ensuring all liabilities are settled when due and will not recall the director's loan account such as to prejudice this position. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
12,124
7,196
Taxes and social security
2,514
6,294
Loans from directors
(12,896)
(14,987)
7
Creditors: amounts falling due after more than one year
2023
2022
SUN STREET CREATIVE LTD
Notes to the Accounts
for the year ended 30 April 2023
8
Deferred taxation
2023
2022
Accelerated capital allowances
672
672
Other deferred taxation
(50)
-
Provision at start of year
672
793
Credited to the profit and loss account
(50)
(121)
Provision at end of year
622
672
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Repayable on demand
7,494
-
1,046
6,448
Repayable on demand
7,494
-
1,046
6,448
The loan is repayable on demand and provided interest free
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).