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REGISTERED NUMBER: 11252679 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Soctopus Limited

Soctopus Limited (Registered number: 11252679)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Soctopus Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs J E Starsmore
N J Starsmore
C J Starsmore





REGISTERED OFFICE: Unit 6b A
Riverside Industrial Estate
Market Harborough
Leicestershire
LE16 7PT





REGISTERED NUMBER: 11252679 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Soctopus Limited (Registered number: 11252679)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 18,722 3,234

CURRENT ASSETS
Stocks 97,206 35,552
Debtors 5 87,894 178,220
Cash at bank 40,504 25,071
225,604 238,843
CREDITORS
Amounts falling due within one year 6 (192,673 ) (214,471 )
NET CURRENT ASSETS 32,931 24,372
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,653

27,606

CREDITORS
Amounts falling due after more than one
year

7

(15,578

)

-

PROVISIONS FOR LIABILITIES (3,634 ) -
NET ASSETS 32,441 27,606

CAPITAL AND RESERVES
Called up share capital 3 2
Retained earnings 32,438 27,604
32,441 27,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Soctopus Limited (Registered number: 11252679)

Balance Sheet - continued
31 March 2023


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 27 September 2023 and were signed on its behalf by:





N J Starsmore - Director


Soctopus Limited (Registered number: 11252679)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

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

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold premises - Over the life of the lease
Plant and machinery - 20% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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

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.

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.

Soctopus Limited (Registered number: 11252679)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under the hire purchase contracts or finance leases are capitalised in the balance
sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.
Those held under finance leases are depreciated over their estimated useful lives or the lease term,
whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The
capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to
leasehold Plant and Motor Computer
premises machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 7,375 - - - 7,375
Additions - 1,500 18,290 1,414 21,204
At 31 March 2023 7,375 1,500 18,290 1,414 28,579
DEPRECIATION
At 1 April 2022 4,141 - - - 4,141
Charge for year 1,475 300 3,658 283 5,716
At 31 March 2023 5,616 300 3,658 283 9,857
NET BOOK VALUE
At 31 March 2023 1,759 1,200 14,632 1,131 18,722
At 31 March 2022 3,234 - - - 3,234

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 19,390 19,276
Other debtors 68,504 158,944
87,894 178,220

Other debtors include prepayments and accrued income of £48,253 (2022- £121,316).

Soctopus Limited (Registered number: 11252679)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 3,062 -
Trade creditors 88,356 166,849
Taxation and social security 53,647 8,932
Other creditors 47,608 38,690
192,673 214,471

Other creditors include accruals of £43,958 (2022- £38,691).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 15,578 -

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase 18,640 -

Hire purchase liabilities are secured on the individual assets being so acquired.

9. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £146,036 (2022- £114,600).