Registered number
09533764
Sonik Autos Ltd
Filleted Accounts
30 April 2023
Sonik Autos Ltd
Registered number: 09533764
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 14,008 17,511
Current assets
Debtors 4 18,172 7,807
Cash at bank and in hand 19,320 20,212
37,492 28,019
Creditors: amounts falling due within one year 5 (8,601) (6,674)
Net current assets 28,891 21,345
Total assets less current liabilities 42,899 38,856
Creditors: amounts falling due after more than one year 6 (45,219) (50,000)
Net liabilities (2,320) (11,144)
Capital and reserves
Called up share capital 100 100
Profit and loss account (2,420) (11,244)
Shareholder's funds (2,320) (11,144)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Keval Soni
Director
Approved by the board on 20 April 2024
Sonik Autos Ltd
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2022 14,800 27,288 42,088
At 30 April 2023 14,800 27,288 42,088
Depreciation
At 1 May 2022 12,334 12,243 24,577
Charge for the year 494 3,009 3,503
At 30 April 2023 12,828 15,252 28,080
Net book value
At 30 April 2023 1,972 12,036 14,008
At 30 April 2022 2,466 15,045 17,511
4 Debtors 2023 2022
£ £
Trade debtors 18,172 7,807
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,218 844
Corporation tax 6,253 4,976
Other taxes and social security costs 1,130 854
8,601 6,674
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 45,219 50,000
7 Other information
Sonik Autos Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 Stoughton Road
Oadby
Leicester
LE2 4DS
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