Period from 23 July 2019 to
Registration number:
Family Sutton Solutions Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Family Sutton Solutions Limited
Company Information
Directors |
Mr P C Sutton Mr B Sutton |
Registered office |
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Accountants |
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Family Sutton Solutions Limited
Balance Sheet
31 December 2020
Note |
2020 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Shareholders' deficit |
( |
For the financial period ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 12118414
Family Sutton Solutions Limited
Notes to the Unaudited Financial Statements
Period from 23 July 2019 to 31 December 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The balance sheet reflects a deficiency of assets totalling £6,719 and the company remains dependent upon the financial support provided by the directors. The directors have confirmed this support will continue for at least one year from the balance sheet date, therefore the accounts have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises when turnover can be reliably measured.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their condition.
Family Sutton Solutions Limited
Notes to the Unaudited Financial Statements
Period from 23 July 2019 to 31 December 2020
Financial instruments
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Stocks |
2020 |
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Work in progress |
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Debtors |
2020 |
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Other debtors |
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Family Sutton Solutions Limited
Notes to the Unaudited Financial Statements
Period from 23 July 2019 to 31 December 2020
Creditors |
Creditors: amounts falling due within one year
2020 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2020 |
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No. |
£ |
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2 |
COVID-19 |
The directors of Family Sutton Solutions Limited have considered the impact of COVID-19.
In the opinion of the directors, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.