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REGISTERED NUMBER: 06346718 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st December 2021

for

Sorted Ventures Ltd

Sorted Ventures Ltd (Registered number: 06346718)






Contents of the Financial Statements
for the Year Ended 31st December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sorted Ventures Ltd

Company Information
for the Year Ended 31st December 2021







DIRECTORS: B J Taylor
R B Taylor
B D Ebbrell
J D Roser





REGISTERED OFFICE: Stag House
Old London Road
Hertford
Hertfordshire
SG13 7LA





REGISTERED NUMBER: 06346718 (England and Wales)





ACCOUNTANTS: Meyer Williams
Chartered Accountants
Stag House
Old London Road
Hertford
Hertfordshire
SG13 7LA

Sorted Ventures Ltd (Registered number: 06346718)

Balance Sheet
31st December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 76,798 63,073
Investments 6 1 1
76,799 63,074

CURRENT ASSETS
Stocks 17,056 10,906
Debtors 7 315,874 352,186
Cash at bank 947,377 782,001
1,280,307 1,145,093
CREDITORS
Amounts falling due within one year 8 315,065 207,330
NET CURRENT ASSETS 965,242 937,763
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,042,041

1,000,837

PROVISIONS FOR LIABILITIES 14,592 11,984
NET ASSETS 1,027,449 988,853

CAPITAL AND RESERVES
Called up share capital 10 211 211
Share premium 99,989 99,989
Retained earnings 927,249 888,653
SHAREHOLDERS' FUNDS 1,027,449 988,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

Sorted Ventures Ltd (Registered number: 06346718)

Balance Sheet - continued
31st December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th August 2022 and were signed on its behalf by:




J D Roser - Director



R B Taylor - Director


Sorted Ventures Ltd (Registered number: 06346718)

Notes to the Financial Statements
for the Year Ended 31st December 2021

1. STATUTORY INFORMATION

Sorted Ventures Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The Directors have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future. The Company continues to benefit from strong recurring revenues through its media activities and subscription-based activities which provides a solid financial framework that enables the Company to make significant ongoing investment in the development of these activities. The Company therefore continues to adopt the going concern basis for preparing its financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Sorted Ventures Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are no estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable in respect of the provision of services falling within the company's ordinary activities and net of discounts and value added tax. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from the rendering of services, apart from subscription income, is recognised in the period in which the services are provided in accordance with the stage of completion of the project and when all the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract; and
- the stage of completion of the contract at the end of the reporting period can be measured reliably.

Subscription income is included in the financial statements at the point of purchase, as while subscriptions are subject to normal consumer statutory rights, no provision to defer income is required.

Interest income
Interest income is recognised using the effective interest method.

Sorted Ventures Ltd (Registered number: 06346718)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Stocks
Stock is valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first in, first out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic short term financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


Sorted Ventures Ltd (Registered number: 06346718)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021

3. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company contributes to a defined contribution plan for the benefit of its employees. Contributions are recognised in profit or loss as they become payable.

Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss account on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2020 - 18 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st January 2021 150,431
Additions 27,278
At 31st December 2021 177,709
DEPRECIATION
At 1st January 2021 87,358
Charge for year 13,553
At 31st December 2021 100,911
NET BOOK VALUE
At 31st December 2021 76,798
At 31st December 2020 63,073

Sorted Ventures Ltd (Registered number: 06346718)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1st January 2021
and 31st December 2021 1
NET BOOK VALUE
At 31st December 2021 1
At 31st December 2020 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 174,902 193,006
Amounts owed by group undertakings 5,670 4,818
Other debtors 20,000 20,481
Corporation tax recoverable - 21,288
Prepayments and accrued income 115,302 112,593
315,874 352,186

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 140,143 29,136
Corporation tax 47,129 27,517
Social security and other taxes 6,453 -
Other creditors 3,340 5,289
Accruals and deferred income 118,000 145,388
315,065 207,330

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.21 31.12.20
£    £   
Within one year 20,000 20,000

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
211 Ordinary £1 211 211

Sorted Ventures Ltd (Registered number: 06346718)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021

11. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the Directors £1,941 (2020: £4,393). No interest was payable on this amount.