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REGISTERED NUMBER: 05373436 (England and Wales)















Financial Statements

for the Year Ended 28 February 2023

for

SO CHIC 2 LTD

SO CHIC 2 LTD (REGISTERED NUMBER: 05373436)

Contents of the Financial Statements
for the year ended 28 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SO CHIC 2 LTD

Company Information
for the year ended 28 February 2023







Director: Mr A Polycarpou





Secretary: Miss S Cenci





Registered office: 5 Heddon Court Parade
Cockfosters Road
Barnet
Hertfordshire
EN4 ODB





Registered number: 05373436 (England and Wales)





Accountants: Haines Watts North London LLP
3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

SO CHIC 2 LTD (REGISTERED NUMBER: 05373436)

Balance Sheet
28 February 2023

2023 2022
Notes £ £
Current assets
Cash at bank and in hand 105,693 108,885

Creditors
Amounts falling due within one year 4 77,603 75,925
Net current assets 28,090 32,960
Total assets less current liabilities 28,090 32,960

Creditors
Amounts falling due after more than one year 5 9,376 13,614
Net assets 18,714 19,346

Capital and reserves
Called up share capital 7 2 2
Retained earnings 18,712 19,344
Shareholders' funds 18,714 19,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

SO CHIC 2 LTD (REGISTERED NUMBER: 05373436)

Balance Sheet - continued
28 February 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 director and authorised for issue on 30 January 2024 and were signed by:





Mr A Polycarpou - Director


SO CHIC 2 LTD (REGISTERED NUMBER: 05373436)

Notes to the Financial Statements
for the year ended 28 February 2023


1. Statutory information

So Chic 2 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

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

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

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.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

SO CHIC 2 LTD (REGISTERED NUMBER: 05373436)

Notes to the Financial Statements - continued
for the year ended 28 February 2023


4. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 4,744 4,744
Other creditors 72,859 71,181
77,603 75,925

5. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans 9,376 13,614

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,376 13,614

6. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 26,000 26,000
Between one and five years 19,500 45,500
45,500 71,500

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary £1 2 2