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REGISTERED NUMBER: 10172496 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Sobalis Ltd

Sobalis Ltd (Registered number: 10172496)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sobalis Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mr A Sabaliauskas





REGISTERED OFFICE: 146 Byron Avenue
London
E12 6NG





REGISTERED NUMBER: 10172496 (England and Wales)





ACCOUNTANTS: E Johnson & Associates
Chartered Certified Accountants
637 Green Lanes
London
N8 0RE

Sobalis Ltd (Registered number: 10172496)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,015 2,687

CURRENT ASSETS
Debtors 5 794 1,622
Cash at bank 3,947 9,006
4,741 10,628
CREDITORS
Amounts falling due within one
year

6

4,529

5,143
NET CURRENT ASSETS 212 5,485
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,227

8,172

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 2,127 8,072
SHAREHOLDERS' FUNDS 2,227 8,172

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 12 February 2024 and were signed by:





Mr A Sabaliauskas - Director


Sobalis Ltd (Registered number: 10172496)

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

1. STATUTORY INFORMATION

Sobalis 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
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.
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Sobalis Ltd (Registered number: 10172496)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2022
and 31 May 2023 5,058
DEPRECIATION
At 1 June 2022 2,371
Charge for year 672
At 31 May 2023 3,043
NET BOOK VALUE
At 31 May 2023 2,015
At 31 May 2022 2,687

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 552 943
Other debtors 242 679
794 1,622

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors (1 ) -
Taxation and social security 3,564 4,718
Other creditors 966 425
4,529 5,143

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 June 2022 8,072
Profit for the year 10,055
Dividends (16,000 )
At 31 May 2023 2,127

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £16,000 (2022 - £17,500) were paid to the director .

Sobalis Ltd (Registered number: 10172496)

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

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A Sabaliauskas.

By virtue of being the sole director of the company and controls 100% of the ordinary share capital of the company.