IRIS Accounts Production v23.2.0.158 02493040 Board of Directors 1.1.22 30.12.22 30.12.22 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh024930402021-12-31024930402022-12-30024930402022-01-012022-12-30024930402020-12-31024930402021-01-012021-12-31024930402021-12-3102493040ns10:Originalns15:EnglandWales2022-01-012022-12-3002493040ns14:PoundSterlingns10:Original2022-01-012022-12-3002493040ns10:Originalns10:Director12022-01-012022-12-3002493040ns10:Original2022-01-012022-12-3002493040ns10:Original2022-12-3002493040ns10:Originalns10:PrivateLimitedCompanyLtd2022-01-012022-12-3002493040ns10:Originalns10:SmallEntities2022-01-012022-12-3002493040ns10:Originalns10:AuditExempt-NoAccountantsReport2022-01-012022-12-3002493040ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-01-012022-12-3002493040ns10:SmallCompaniesRegimeForAccountsns10:Original2022-01-012022-12-3002493040ns10:Originalns10:FullAccounts2022-01-012022-12-3002493040ns10:Originalns10:Director22022-01-012022-12-3002493040ns10:Originalns10:RegisteredOffice2022-01-012022-12-3002493040ns10:Original2021-12-3102493040ns10:Originalns5:CurrentFinancialInstruments2022-12-3002493040ns10:Originalns5:CurrentFinancialInstruments2021-12-3102493040ns10:Originalns5:Non-currentFinancialInstruments2022-12-3002493040ns10:Originalns5:Non-currentFinancialInstruments2021-12-3102493040ns5:ShareCapitalns10:Original2022-12-3002493040ns5:ShareCapitalns10:Original2021-12-3102493040ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-12-3002493040ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-12-3102493040ns10:Originalns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-01-012022-12-3002493040ns10:Originalns5:ComputerEquipment2022-01-012022-12-3002493040ns10:Original2021-01-012021-12-3102493040ns10:Originalns5:LandBuildings2021-12-3102493040ns10:Originalns5:ComputerEquipment2021-12-3102493040ns10:Original2021-12-3102493040ns10:Originalns5:LandBuildings2022-12-3002493040ns10:Originalns5:ComputerEquipment2022-12-3002493040ns10:Originalns5:LandBuildings2021-12-3102493040ns10:Originalns5:ComputerEquipment2021-12-3102493040ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3002493040ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2021-12-3102493040ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-3002493040ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2021-12-3102493040ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-3002493040ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2021-12-3102493040ns5:Securedns10:Original2022-12-3002493040ns5:Securedns10:Original2021-12-3102493040ns10:Original1ns10:Director12021-12-3102493040ns10:Original1ns10:Director12020-12-3102493040ns10:Original1ns10:Director12022-01-012022-12-3002493040ns10:Original1ns10:Director12021-01-012021-12-3102493040ns10:Original1ns10:Director12022-12-3002493040ns10:Original1ns10:Director12021-12-31
REGISTERED NUMBER: 02493040 (England and Wales)










Unaudited Financial Statements

for the Period

1 January 2022 to 30 December 2022

for

Sortlane Limited

Sortlane Limited (Registered number: 02493040)






Contents of the Financial Statements
for the Period 1 January 2022 to 30 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sortlane Limited

Company Information
for the Period 1 January 2022 to 30 December 2022







DIRECTORS: Miss F Gulyas
Ms M C Payne





REGISTERED OFFICE: 5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ





REGISTERED NUMBER: 02493040 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

Sortlane Limited (Registered number: 02493040)

Balance Sheet
30 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 922,987 922,987

CURRENT ASSETS
Debtors 5 22,252 26,187
Cash at bank 27,122 28,177
49,374 54,364
CREDITORS
Amounts falling due within one year 6 26,750 27,410
NET CURRENT ASSETS 22,624 26,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

945,611

949,941

CREDITORS
Amounts falling due after more than one
year

7

19,347

34,946
NET ASSETS 926,264 914,995

CAPITAL AND RESERVES
Called up share capital 24,500 24,500
Retained earnings 901,764 890,495
SHAREHOLDERS' FUNDS 926,264 914,995

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2022 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.

Sortlane Limited (Registered number: 02493040)

Balance Sheet - continued
30 December 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





Miss F Gulyas - Director


Sortlane Limited (Registered number: 02493040)

Notes to the Financial Statements
for the Period 1 January 2022 to 30 December 2022

1. STATUTORY INFORMATION

Sortlane 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 represents rental income due excluding vat.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold Investment property - not provided
Computer equipment - 33% on cost

Investment Property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised through the profit and loss account.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2021 - 2 ) .

Sortlane Limited (Registered number: 02493040)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 30 December 2022

4. TANGIBLE FIXED ASSETS
Freehold
Investment Computer
property equipment Totals
£    £    £   
COST
At 1 January 2022
and 30 December 2022 922,987 1,269 924,256
DEPRECIATION
At 1 January 2022
and 30 December 2022 - 1,269 1,269
NET BOOK VALUE
At 30 December 2022 922,987 - 922,987
At 31 December 2021 922,987 - 922,987

For the year ended 31st December 2021 the directors' reviewed the valuation of the investment property on an open market basis and were of the opinion that the properties are stated at fair value and no adjustment was required.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors - 5,200
Other debtors 9,730 8,444
Directors' current accounts 10,835 11,865
VAT 915 -
Prepayments 772 678
22,252 26,187

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts (see note 8) 16,000 16,000
Trade creditors 1,590 -
Tax 2,660 4,386
VAT - 524
Other creditors 500 500
Accrued expenses 6,000 6,000
26,750 27,410

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans (see note 8) 19,347 34,946

Sortlane Limited (Registered number: 02493040)

Notes to the Financial Statements - continued
for the Period 1 January 2022 to 30 December 2022

8. LOANS

An analysis of the maturity of loans is given below:

2022 2021
£    £   
Amounts falling due within one year or on demand:
Bank loans 16,000 16,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 16,000 16,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 3,347 18,946

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 35,347 50,946

Bank borrowings are secured by a charge over the company's assets.


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 December 2022 and the year ended 31 December 2021:

2022 2021
£    £   
Miss F Gulyas
Balance outstanding at start of period 11,864 12,176
Amounts repaid (1,029 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 10,835 11,864

11. ULTIMATE CONTROLLING PARTY

The controlling party is Sortlane Holdings Ltd.

The ultimate controlling party is Bond Trustees (Jersey).