Sotra Limited 01178991 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of General Traders. The Company ceased trading as at 31st December 2023. Digita Accounts Production Advanced 6.30.9574.0 true true 01178991 2023-01-01 2023-12-31 01178991 2023-12-31 01178991 bus:OrdinaryShareClass1 2023-12-31 01178991 bus:OrdinaryShareClass2 2023-12-31 01178991 bus:Original 2023-12-31 01178991 core:RetainedEarningsAccumulatedLosses 2023-12-31 01178991 core:ShareCapital 2023-12-31 01178991 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01178991 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 01178991 core:FurnitureFittingsToolsEquipment 2023-12-31 01178991 bus:SmallEntities 2023-01-01 2023-12-31 01178991 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01178991 bus:FullAccounts 2023-01-01 2023-12-31 01178991 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01178991 bus:RegisteredOffice 2023-01-01 2023-12-31 01178991 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 01178991 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 01178991 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 01178991 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01178991 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 01178991 countries:AllCountries 2023-01-01 2023-12-31 01178991 2022-12-31 01178991 core:FurnitureFittingsToolsEquipment 2022-12-31 01178991 2022-01-01 2022-12-31 01178991 2022-12-31 01178991 bus:OrdinaryShareClass1 2022-12-31 01178991 bus:OrdinaryShareClass2 2022-12-31 01178991 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2022-12-31 01178991 core:ShareCapital core:PreviouslyStatedAmount 2022-12-31 01178991 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 01178991 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2022-12-31 01178991 core:Non-currentFinancialInstruments core:AfterOneYear core:PreviouslyStatedAmount 2022-12-31 01178991 core:FurnitureFittingsToolsEquipment 2022-12-31 01178991 core:PreviouslyStatedAmount 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01178991

Sotra Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Sotra Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Sotra Limited

Company Information
__________________________________________________________________________

Director

Mr M Wijsmuller

Company secretary

Mr M Wijsmuller

Registered office

Abbey House
342 Regents Park Road
N3 2LJ


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Sotra Limited

(Registration number: 01178991)
Balance Sheet as at 31 December 2023
__________________________________________________________________________

Note

2023
£

2022
£

   

     

Fixed assets

   

 

Tangible fixed assets

3

 

-

 

5,335

Current assets

   

 

Debtors

4

8

 

939

 

Cash at bank and in hand

 

22,838

 

13,758

 

 

22,846

 

14,697

 

Creditors: Amounts falling due within one year

5

(1,550)

 

(3,331)

 

Net current assets

   

21,296

 

11,366

Total assets less current liabilities

   

21,296

 

16,701

Creditors: Amounts falling due after more than one year

5

 

-

 

(5,586)

Net assets

   

21,296

 

11,115

Capital and reserves

   

 

Called up share capital

100,100

 

100,100

 

Profit and loss account

(78,804)

 

(88,985)

 

Total equity

   

21,296

 

11,115

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 9 February 2024
 

 

Sotra Limited

(Registration number: 01178991)
Balance Sheet as at 31 December 2023
__________________________________________________________________________

.........................................
Mr M Wijsmuller
Company secretary and director

 

Sotra Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Sotra Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

Between 25% & 33% pa on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Sotra Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

8,134

8,134

Additions

1,307

1,307

Disposals

(9,441)

(9,441)

At 31 December 2023

-

-

Depreciation

At 1 January 2023

2,798

2,798

Charge for the year

1,427

1,427

Eliminated on disposal

(4,225)

(4,225)

At 31 December 2023

-

-

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

5,335

5,335

 

Sotra Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

4

Debtors

Current

2023
£

2022
£

Other debtors

8

939

 

8

939

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

-

2,081

Accruals and deferred income

 

1,550

1,250

 

1,550

3,331

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Class A of £1 each

100,000

100,000

100,000

100,000

Ordinary Class B of £1 each

100

100

100

100

 

100,100

100,100

100,100

100,100