SOLE-MATES INSOLES LTD

Company limited by guarantee

Company Registration Number:
08541976 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2023

Period of accounts

Start date: 01 June 2022

End date: 31 May 2023

SOLE-MATES INSOLES LTD

Company limited by guarantee

Contents of the Financial Statements

for the Period Ended 31 May 2023

Company Information - 3
Report of the Directors - 4
Income and Expenditure Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

SOLE-MATES INSOLES LTD

Company limited by guarantee

Company Information

for the Period Ended 31 May 2023




Director: Christopher Gerard Fitzpatrick
Deborah Elizabeth Fitzpatrick
Secretary: Linda Mary Downey
Registered office: Unit 3, Big Padlock
Ellis Ashton Street
Liverpool
Merseyside
England
L36 6BJ
Company Registration Number: 08541976 (England and Wales)

SOLE-MATES INSOLES LTD

Company limited by guarantee

Directors' Report Period Ended 31 May 2023

The directors present their report with the financial statements of the company for the period ended 31 May 2023

Principal Activities

Retail of footwear

Directors

The directors shown below have held office during the whole of the period from 01 June 2022 to 31 May 2023
Christopher Gerard Fitzpatrick
Deborah Elizabeth Fitzpatrick

Secretary
Linda Mary Downey

This report was approved by the board of directors on 28 February 2024
And Signed On Behalf Of The Board By:

Name: Christopher Gerard Fitzpatrick
Status: Director

SOLE-MATES INSOLES LTD

Company limited by guarantee

Income and Expenditure Account

for the Period Ended 31 May 2023


Notes

2023
£

2022
£
Gross surplus or (deficit) 38,955 24,992
Income from coronavirus (COVID-19) business support grants 0 5,931
Distribution Costs ( 7,143 ) ( 6,236 )
Administrative Expenses ( 32,281 ) ( 26,241 )
Operating surplus or (deficit) ( 469 ) ( 1,554 )
Surplus or (deficit) before tax ( 469 ) ( 1,554 )
Surplus or (deficit) for the period ( 469 ) ( 1,554 )

The notes form part of these financial statements

SOLE-MATES INSOLES LTD

Company limited by guarantee

Balance sheet

As at 31 May 2023


Notes

2023
£

2022
£
Fixed assets
Total fixed assets: - -
Current assets
Stocks: 2,500 3,000
Cash at bank and in hand: 198 3,085
Total current assets: 2,698 6,085
Creditors: amounts falling due within one year: ( 3,000 ) ( 9,000 )
Net current assets (liabilities): ( 302 ) ( 2,915 )
Total assets less current liabilities: ( 302 ) ( 2,915 )
Total net assets (liabilities): ( 302 ) ( 2,915 )

The notes form part of these financial statements

SOLE-MATES INSOLES LTD

Company limited by guarantee

Balance sheet continued

As at 31 May 2023


Notes

2023
£

2022
£
Reserves
Revaluation reserve: 4 ( 302 ) ( 2,915 )
Members funds ( 302 ) ( 2,915 )

For the year ending 31 May 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

This report was approved by the board of directors on 28 February 2024
And Signed On Behalf Of The Board By:

Name: Christopher Gerard Fitzpatrick
Status: Director

The notes form part of these financial statements

SOLE-MATES INSOLES LTD

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tac and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation is provide, after taking account of any grants receivable, annual rates in order to write off each asset over its estimated useful life. Freehold buildings - 2% on cost or revalued amounts, Plant and Machinery - 15% on cost, Fixtures and Fittings - 10% on cost, Motor Vehicles - 25% on cost.

    Intangible fixed assets amortisation policy

    Intangible fixed assets (including purchased good will and patents) are amortised at rates calculated to write off the asset on a straight line basis over their useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

    Valuation information and policy

    Stocks and work-in-progress are value at the lower costs and net realisable value, after making sure allowances for obsolete and slow moving allowances. Costs include all direct expenditure and an appropriate proportion of fixed and variable overheads.

SOLE-MATES INSOLES LTD

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 2 2

SOLE-MATES INSOLES LTD

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 3. Off balance sheet disclosure

    No

SOLE-MATES INSOLES LTD

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Revaluation reserve


2023
£
Balance at 01 June 2022 ( 2,915 )
Surplus or deficit after revaluation 2,613
Balance at 31 May 2023 ( 302 )