Company registration number 07091329 (England and Wales)
SOTERION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SOTERION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SOTERION LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,865,144
3,574,445
Current assets
Debtors
4
52,682
84,814
Cash at bank and in hand
419,675
50,828
472,357
135,642
Creditors: amounts falling due within one year
5
(1,162,406)
(2,285,825)
Net current liabilities
(690,049)
(2,150,183)
Total assets less current liabilities
1,175,095
1,424,262
Provisions for liabilities
(295,221)
(251,145)
Net assets
879,874
1,173,117
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
879,774
1,173,017
Total equity
879,874
1,173,117

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 9 February 2024 and are signed on its behalf by:
Mr N A Roe
Mrs L G Roe
Director
Director
Company Registration No. 07091329
SOTERION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Soterion Limited is a private company limited by shares incorporated in England and Wales. The registered office is Soterion House, Northgate, Aldridge, WS9 8TH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Buildings at 2% SLB, no depreciation is provided on land
Fixtures and fittings
50% straight line basis
Motor vehicles
Enter depreciation rate via StatDB - cd78

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SOTERION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
2
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2022
3,619,278
24,379
3,643,657
Additions
306,765
125,631
432,396
Disposals
(2,104,129)
-
0
(2,104,129)
Revaluation
23,635
-
0
23,635
At 30 November 2023
1,845,549
150,010
1,995,559
Depreciation and impairment
At 1 December 2022
65,149
4,063
69,212
Depreciation charged in the year
37,899
23,304
61,203
At 30 November 2023
103,048
27,367
130,415
Carrying amount
At 30 November 2023
1,742,501
122,643
1,865,144
At 30 November 2022
3,554,129
20,316
3,574,445

The properties were revalued by the directors at their estimated market value at 30 November 2023.

SOTERION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,190
42,643
Other debtors
47,492
42,171
52,682
84,814
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
766
21,469
Corporation tax
43,499
10,224
Other taxation and social security
278
7,146
Other creditors
1,117,863
2,246,986
1,162,406
2,285,825
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