Registered number
01807450
SOS Group Services Limited
Filleted Accounts
30 June 2023
SOS Group Services Limited
Registered number: 01807450
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 159,246 172,477
Investments 4 110,002 110,002
269,248 282,479
Current assets
Stocks 1,000 1,000
Debtors 5 92,824 105,007
Cash at bank and in hand 1,206 54,402
95,030 160,409
Creditors: amounts falling due within one year 6 (126,860) (186,093)
Net current liabilities (31,830) (25,684)
Total assets less current liabilities 237,418 256,795
Creditors: amounts falling due after more than one year 7 (33,210) (37,420)
Provisions for liabilities (30,260) (32,775)
Net assets 173,948 186,600
Capital and reserves
Called up share capital 2,000 2,000
Fair value reserve 9 647 647
Profit and loss account 171,301 183,953
Shareholders' funds 173,948 186,600
Continued…
Continued…
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P J O'Nyons
Director
Approved by the board on 31 January 2024
SOS Group Services Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 7 years
Office furniture and equipment over 7 years
Computer equipment over 3 years
Motor vehicles over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 13 13
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2022 271,050 214,953 486,003
Additions 25,200 27,990 53,190
Disposals - (8,600) (8,600)
At 30 June 2023 296,250 234,343 530,593
Depreciation
At 1 July 2022 181,662 131,864 313,526
Charge for the year 22,251 44,170 66,421
On disposals - (8,600) (8,600)
At 30 June 2023 203,913 167,434 371,347
Net book value
At 30 June 2023 92,337 66,909 159,246
At 30 June 2022 89,388 83,089 172,477
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Fair value
At 1 July 2022 2 110,000 110,002
At 30 June 2023 2 110,000 110,002
Historical cost
At 1 July 2022 2 109,553
At 30 June 2023 2 109,553
5 Debtors 2023 2022
£ £
Trade debtors 87,272 98,543
Other debtors 5,552 6,464
92,824 105,007
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 12,480 9,840
Trade creditors 25,633 42,030
Taxation and social security costs 42,362 61,888
Directors current accounts 19,925 44,625
Other creditors 16,460 17,710
126,860 186,093
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,500 32,500
Obligations under finance lease and hire purchase contracts 10,710 4,920
33,210 37,420
8 Loans 2023 2022
£ £
Creditors include:
Secured borrowings 23,190 14,760
Hire purchase liabilities are secured against corresponding fixed assets acquired under their respective hire purchase agreements.
9 Fair value reserve 2023 2022
£ £
At 1 July 2022 647 647
At 30 June 2023 647 647
10 Other information
SOS Group Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
32 Lincoln Road
Olton
Solihull
West Midlands
B27 6PA
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