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Registered number: 09665946
SOAR Development Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
KFH Accounting Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09665946
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 186 371
186 371
CURRENT ASSETS
Debtors 6,999 5,239
Cash at bank and in hand 1,441 4,428
8,440 9,667
Creditors: Amounts Falling Due Within One Year (8,580 ) (6,613 )
NET CURRENT ASSETS (LIABILITIES) (140 ) 3,054
TOTAL ASSETS LESS CURRENT LIABILITIES 46 3,425
Creditors: Amounts Falling Due After More Than One Year - (3,333 )
NET ASSETS 46 92
CAPITAL AND RESERVES
Called up share capital 5 1 1
Profit and Loss Account 45 91
SHAREHOLDERS' FUNDS 46 92
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Claire Burgess
Director
28/03/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SOAR Development Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09665946 . The registered office is 40 Hillfield Road, Oundle, Peterborough, Northamptonshire, PE8 4QP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 3 years straightline
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
1 1
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 August 2022 1,507
As at 31 July 2023 1,507
Depreciation
As at 1 August 2022 1,136
Provided during the period 185
As at 31 July 2023 1,321
...CONTINUED
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Net Book Value
As at 31 July 2023 186
As at 1 August 2022 371
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
6. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2022 Amounts advanced Amounts repaid Amounts written off As at 31 July 2023
£ £ £ £ £
Mrs Claire Burgess 2,123 30,700 (32,444 ) - (1,621 )
The above loan is unsecured, interest free and repayable on demand.
7.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any
impairment losses for bad and doubtful debts. Loans and other financial assets are initially
recognised at transaction price including any transaction costs and subsequently measured at
amortised cost determined using the effective interest method, less any impairment losses for bad
and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans
and other financial liabilities are initially recognised at transaction price net of any transaction costs
and subsequently measured at amortised cost determined using the effective interest method.
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