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REGISTERED NUMBER: 09784366 (England and Wales)















Financial Statements for the Year Ended 31 December 2022

for

Softline Solutions Ltd.

Softline Solutions Ltd. (Registered number: 09784366)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Softline Solutions Ltd.

Company Information
for the Year Ended 31 December 2022







DIRECTOR: Mr D Montanje





REGISTERED OFFICE: 26/28 Hammersmith Grove
London
W6 7HA





REGISTERED NUMBER: 09784366 (England and Wales)





AUDITORS: Brooms Professional Services Limited t/a BPSL
Chartered Certified Accountants
and Statutory Auditors
Broom House
39/43 London Road
Hadleigh, Benfleet
Essex
SS7 2QL

Softline Solutions Ltd. (Registered number: 09784366)

Statement of Financial Position
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,541 1,517

CURRENT ASSETS
Debtors 5 1,410,567 771,047
Cash in hand 160,243 125,844
1,570,810 896,891
CREDITORS
Amounts falling due within one year 6 1,509,964 895,483
NET CURRENT ASSETS 60,846 1,408
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,387

2,925

CAPITAL AND RESERVES
Called up share capital 7 25,000 25,000
Retained earnings 41,387 (22,075 )
SHAREHOLDERS' FUNDS 66,387 2,925

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2023 and were signed by:





Mr D Montanje - Director


Softline Solutions Ltd. (Registered number: 09784366)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Softline Solutions 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates and is rounded to the nearest pound.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Fixtures and fittings etc. - 50% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Softline Solutions Ltd. (Registered number: 09784366)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Foreign currencies
The company's functional and presentation currency is GBP.

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income.

All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2021 - 5 ) .

Softline Solutions Ltd. (Registered number: 09784366)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2022 3,961
Additions 8,609
At 31 December 2022 12,570
DEPRECIATION
At 1 January 2022 2,444
Charge for year 4,585
At 31 December 2022 7,029
NET BOOK VALUE
At 31 December 2022 5,541
At 31 December 2021 1,517

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 330,150 319,267
Other debtors 16,857 20,176
Amounts owed by group
undertakings 47,283 5,754
Prepayments and accrued income 957,327 425,850
Accruals 58,950 -
1,410,567 771,047

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 385,075 329,595
Amounts owed to group undertakings 109,482 156,772
Tax 7,537 -
Social security and other taxes 44,873 10,087
Other creditors 4,479 2,400
Accruals and deferred income 958,518 396,629
1,509,964 895,483

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
25,000 Ordinary 1 25,000 25,000

Softline Solutions Ltd. (Registered number: 09784366)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sonia Shah FCCA (Senior Statutory Auditor)
for and on behalf of Brooms Professional Services Limited t/a BPSL

9. POST BALANCE SHEET EVENTS

There have been no significant events affecting the company since the year end.

10. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Softline AG., a company incorporated in Germany.

The ultimate controlling party is Noventiq Holdings Plc, a company incorporated in the Cayman Islands, Company registration number MC-401885, registered office PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands.