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Company Registration No. 874533 (England and Wales)
SOTHAM ENGINEERING SERVICES LIMITED Unaudited accounts for the year ended 31 December 2023
SOTHAM ENGINEERING SERVICES LIMITED Unaudited accounts Contents
Page
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SOTHAM ENGINEERING SERVICES LIMITED Company Information for the year ended 31 December 2023
Directors
P R Kerrison B J Sloan
Secretary
B J Sloan
Company Number
874533 (England and Wales)
Registered Office
The Granary Home End Fulbourn Cambs CB21 5BS
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SOTHAM ENGINEERING SERVICES LIMITED Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
180,129 
151,162 
Current assets
Debtors
2,481,741 
1,647,588 
Cash at bank and in hand
1,628,193 
1,709,561 
4,109,934 
3,357,149 
Creditors: amounts falling due within one year
(2,773,762)
(2,519,305)
Net current assets
1,336,172 
837,844 
Total assets less current liabilities
1,516,301 
989,006 
Creditors: amounts falling due after more than one year
- 
(45,704)
Provisions for liabilities
Deferred tax
(34,515)
(27,273)
Net assets
1,481,786 
916,029 
Capital and reserves
Called up share capital
100,001 
100,001 
Profit and loss account
1,381,785 
816,028 
Shareholders' funds
1,481,786 
916,029 
For the year ending 31 December 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 March 2024 and were signed on its behalf by
P R Kerrison Director Company Registration No. 874533
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SOTHAM ENGINEERING SERVICES LIMITED Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
SOTHAM ENGINEERING SERVICES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 874533. The registered office is The Granary, Home End, Fulbourn, Cambs, CB21 5BS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.
Amounts recoverable on long term contracts
Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
Evenly over 4 years
Fixtures & fittings
Evenly over 3 to 10 years
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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SOTHAM ENGINEERING SERVICES LIMITED Notes to the Accounts for the year ended 31 December 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
385,800 
39,024 
424,824 
Additions
93,012 
- 
93,012 
Disposals
(127,436)
- 
(127,436)
At 31 December 2023
351,376 
39,024 
390,400 
Depreciation
At 1 January 2023
245,036 
28,626 
273,662 
Charge for the year
59,824 
4,218 
64,042 
On disposals
(127,433)
- 
(127,433)
At 31 December 2023
177,427 
32,844 
210,271 
Net book value
At 31 December 2023
173,949 
6,180 
180,129 
At 31 December 2022
140,764 
10,398 
151,162 
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SOTHAM ENGINEERING SERVICES LIMITED Notes to the Accounts for the year ended 31 December 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
705,421 
455,647 
Accrued income and prepayments
14,467 
19,095 
Other debtors
1,761,853 
1,172,846 
2,481,741 
1,647,588 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
45,704 
30,285 
Trade creditors
1,089,306 
676,248 
Taxes and social security
279,751 
192,731 
Other creditors
19,562 
10,547 
Accruals
1,339,439 
1,609,494 
2,773,762 
2,519,305 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
45,704 
8
Pension commitments
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due. The assets of the scheme are held in an independently administered fund. Contributions payable to the scheme at the year end amounted to £19,562 (2022 - £17,237).
9
Transactions with related parties
A one off dividend of £Nil (2022 - £2,000,000) was paid to Ballar Limited which is a company under identical control and ownership as Sotham Engineering Services Limited. The funds remain within Ballar Limited.
10
Average number of employees
During the year the average number of employees was 52 (2022: 55).
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