Company Registration No. 09098756 (England and Wales)
THE SOLE SUPPLIER LIMITED
Unaudited accounts
for the year ended 30 June 2023
THE SOLE SUPPLIER LIMITED
Unaudited accounts
Contents
THE SOLE SUPPLIER LIMITED
Company Information
for the year ended 30 June 2023
Director
Mr George Sullivan
Company Number
09098756 (England and Wales)
Registered Office
86-90 PAUL STREET
3RD FLOOR
LONDON
ENGLAND
Accountants
Arth Limited
655 Milton Keynes Business Centre
Foxhunter Drive
Milton Keynes
Buckinghamshire
MK14 6GD
THE SOLE SUPPLIER LIMITED
Statement of financial position
as at 30 June 2023
Intangible assets
168,675
519,077
Tangible assets
21,494
21,923
Debtors
1,503,182
1,094,107
Investments
17,974
110,657
Cash at bank and in hand
746,818
1,008,551
Creditors: amounts falling due within one year
(738,450)
(712,068)
Net current assets
1,529,524
1,501,247
Total assets less current liabilities
1,719,693
2,042,247
Creditors: amounts falling due after more than one year
(416,452)
(581,404)
Provisions for liabilities
Deferred tax
(102,790)
(102,790)
Net assets
1,200,451
1,358,053
Called up share capital
100
100
Profit and loss account
1,200,351
1,357,953
Shareholders' funds
1,200,451
1,358,053
For the year ending 30 June 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 director acknowledges his 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 and authorised for issue on 26 January 2024 and were signed on its behalf by
Mr George Sullivan
Director
Company Registration No. 09098756
THE SOLE SUPPLIER LIMITED
Notes to the Accounts
for the year ended 30 June 2023
THE SOLE SUPPLIER LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09098756. The registered office is 86-90 PAUL STREET, 3RD FLOOR, LONDON, ENGLAND.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
Web development is amortised to profit and loss account over its estimated economic life of four years.
Expenditure on research and development is written off in the year it is incurred, or where considered appropriate some R&D expenditure is also capitalised within intangible assets
THE SOLE SUPPLIER LIMITED
Notes to the Accounts
for the year ended 30 June 2023
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Fixtures & fittings
25% reducing balance basis
Computer equipment
25% reducing balance basis
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Intangible fixed assets
Other
Charge for the year
350,402
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2022
33,844
66,821
100,665
Additions
10,123
583
10,706
At 30 June 2023
43,967
67,404
111,371
At 1 July 2022
27,025
51,717
78,742
Charge for the year
5,224
5,911
11,135
At 30 June 2023
32,249
57,628
89,877
At 30 June 2023
11,718
9,776
21,494
At 30 June 2022
6,819
15,104
21,923
THE SOLE SUPPLIER LIMITED
Notes to the Accounts
for the year ended 30 June 2023
Amounts falling due after more than one year
Trade debtors
63,110
54,777
Amounts due from group undertakings etc.
128,710
110,545
Accrued income and prepayments
1,227,783
876,652
Other debtors
83,579
52,133
7
Investments held as current assets
2023
2022
Listed investments
17,500
105,968
Unlisted investments
474
4,689
8
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
590,508
150,234
Trade creditors
25,807
89,492
Taxes and social security
(115,735)
128,428
Other creditors
69,531
50,907
Loans from directors
(21,847)
28,702
9
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
416,452
581,404
THE SOLE SUPPLIER LIMITED
Notes to the Accounts
for the year ended 30 June 2023
10
Deferred taxation
2023
2022
Accelerated capital allowances
102,790
102,790
Provision at start of year
102,790
193,726
Credited to the profit and loss account
-
(90,936)
Provision at end of year
102,790
102,790
The provision for deferred taxation is made up of accelerated capital allowances on fixed assets.
No deferred tax asset has been introduced in respect of tax losses carried forward in respect of R&D claims at this stage, as this should only be introduced once it is apparent that future expected profits in the sort term will be sufficient to eliminate the brought forward tax losses, in accordance with FRS102.
Had the deferred tax asset been included in the accounts the figure would have been £XXX (2022 £145,096) at 19% although ignoring the new 25% & marginal rates pending.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
The above loan is unsecured, interest free and repayable on demand.
The company's ultimate controlling party is director by virtue of his ownership of 100% of the issued share capital in the company.
13
Average number of employees
During the year the average number of employees was 47 (2022: 47).