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REGISTERED NUMBER: 02538377 (England and Wales)















SORION ELECTRONICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






SORION ELECTRONICS LIMITED (REGISTERED NUMBER: 02538377)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SORION ELECTRONICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: N Hartt
S R Hayes
R S Horton
R J Green





REGISTERED OFFICE: Unit 12
Magreal Industrial Estate
Freeth Street
Ladywood
B16 0QZ





REGISTERED NUMBER: 02538377 (England and Wales)





ACCOUNTANTS: Burrows Scarborough
Sovereign House
12 Warwick Street
Coventry
West Midlands
CV5 6ET

SORION ELECTRONICS LIMITED (REGISTERED NUMBER: 02538377)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,515 67,885
Investments 5 100 100
59,615 67,985

CURRENT ASSETS
Stocks 367,654 325,827
Debtors 6 748,407 603,336
Prepayments and accrued income 25,052 29,044
Cash at bank and in hand 95,647 179,960
1,236,760 1,138,167
CREDITORS
Amounts falling due within one year 7 410,712 355,388
NET CURRENT ASSETS 826,048 782,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

885,663

850,764

CREDITORS
Amounts falling due after more than one
year

8

-

(42,463

)

PROVISIONS FOR LIABILITIES (11,501 ) (11,501 )

ACCRUALS AND DEFERRED INCOME (10,351 ) (13,830 )
NET ASSETS 863,811 782,970

CAPITAL AND RESERVES
Called up share capital 9 8,300 8,300
Capital redemption reserve 1,700 1,700
Retained earnings 853,811 772,970
SHAREHOLDERS' FUNDS 863,811 782,970

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SORION ELECTRONICS LIMITED (REGISTERED NUMBER: 02538377)

BALANCE SHEET - continued
30 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2024 and were signed on its behalf by:





R S Horton - Director


SORION ELECTRONICS LIMITED (REGISTERED NUMBER: 02538377)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Sorion Electronics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


These financial statements are rounded to the nearest £1.

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Sorion Electronics Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration recieved or receivable, excluding discounts, rebates and value added tax.

Dividends receivable

Dividend income is recognised as the company's right to receive payment is established.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 50% on cost
Motor vehicles - 25% on cost

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

SORION ELECTRONICS LIMITED (REGISTERED NUMBER: 02538377)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Pension
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates contributory pension schemes for certain of it's employees. The funds of the schemes are administered by Trustees and are separate from the company. They are defined contribution schemes and contributions are charged to profit and loss account as they accrue.

Current asset investment
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 38 ) .

SORION ELECTRONICS LIMITED (REGISTERED NUMBER: 02538377)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 413,182
Additions 14,522
Disposals (171,641 )
At 30 September 2023 256,063
DEPRECIATION
At 1 October 2022 345,297
Charge for year 22,892
Eliminated on disposal (171,641 )
At 30 September 2023 196,548
NET BOOK VALUE
At 30 September 2023 59,515
At 30 September 2022 67,885

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2022
and 30 September 2023 22,130
PROVISIONS
At 1 October 2022
and 30 September 2023 22,030
NET BOOK VALUE
At 30 September 2023 100
At 30 September 2022 100

Sorion Developments Limited is no longer an active/trading company and all assets/reserves were distributed in 2018.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 724,558 562,628
Provision for bad debts (10,980 ) -
Amounts recoverable on contract 31,771 26,691
Other debtors 3,058 5,150
Tax - 8,867
748,407 603,336

SORION ELECTRONICS LIMITED (REGISTERED NUMBER: 02538377)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 42,463 56,618
Trade creditors 184,748 151,301
Amounts owed to group undertakings 100 100
Taxation and social security 143,207 127,369
Other creditors 40,194 20,000
410,712 355,388

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 42,463

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
83,000 Ordinary 10p 8,300 8,300

10. RELATED PARTY DISCLOSURES

There are no material transactions not concluded under market conditions requiring disclosure.