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Registration number: 05836428

Salesorder Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Salesorder Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Salesorder Limited

(Registration number: 05836428)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,099

1,355

Current assets

 

Debtors

6

452,338

403,919

Cash at bank and in hand

 

141,920

256,573

 

594,258

660,492

Creditors: Amounts falling due within one year

7

(337,344)

(359,654)

Net current assets

 

256,914

300,838

Total assets less current liabilities

 

258,013

302,193

Creditors: Amounts falling due after more than one year

7

(19,800)

(29,789)

Net assets

 

238,213

272,404

Capital and reserves

 

Called up share capital

1,036

1,036

Share premium reserve

49,964

49,964

Retained earnings

187,213

221,404

Shareholders' funds

 

238,213

272,404

 

Salesorder Limited

(Registration number: 05836428)
Balance Sheet as at 31 October 2023

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 July 2024 and signed on its behalf by:
 

.........................................
N Spooner
Company secretary and director

 

Salesorder Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Forfar House
97 Balham Park Road
London
SW12 8EB
England

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

 

Salesorder Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

Going concern

Turnover has increased since the year end, which together with the company's existing resources should be sufficient to ensure that the company is able to continue as a going concern. Consequently, the financial statements have been prepared on this basis.

Revenue recognition

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

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.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

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

Plant and machinery

20% straight line

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.

Debtors

Trade debtors are amounts due from customers for software engineering services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

Salesorder Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Salesorder Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

3

Taxation

2023

2022

£

£

Corporation tax

-

-

-

-

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 6).

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2022

6,848

6,848

Additions

424

424

At 31 October 2023

7,272

7,272

Depreciation

At 1 November 2022

5,493

5,493

Charge for the year

680

680

At 31 October 2023

6,173

6,173

Carrying amount

At 31 October 2023

1,099

1,099

At 31 October 2022

1,355

1,355

6

Debtors

2023
£

2022
£

Trade debtors

70,123

17,656

Prepayments

11,213

22,969

Other debtors

371,002

363,294

452,338

403,919

 

Salesorder Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

10,015

9,768

Trade creditors

 

105,820

137,625

Taxation and social security

 

9,518

6,725

Other creditors

 

211,991

205,536

 

337,344

359,654

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

19,800

29,789

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,015

9,768

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

19,800

29,789

 

Salesorder Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

9

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

At 31 October 2023
£

N Spooner

DLA

285,086

6,277

291,363

2022

At 1 November 2021
£

Advances to director
£

At 31 October 2022
£

N Spooner

DLA

278,520

6,566

285,086