SOZO MINISTRIES INTERNATIONAL |
Registered number: |
05547814 |
Abridged Balance Sheet |
as at 31 October 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
1,639,440 |
|
|
1,647,770 |
|
Current assets |
Stocks |
|
|
8,000 |
|
|
8,250 |
Debtors |
|
|
14,366 |
|
|
6,434 |
Cash at bank and in hand |
|
|
214,179 |
|
|
190,019 |
|
|
|
236,545 |
|
|
204,703 |
|
Creditors: amounts falling due within one year |
|
|
(43,395) |
|
|
(42,962) |
|
Net current assets |
|
|
|
193,150 |
|
|
161,741 |
|
Net assets |
|
|
|
1,832,590 |
|
|
1,809,511 |
|
|
|
|
|
|
|
|
Capital and reserves |
Income and expenditure account |
|
|
|
1,832,590 |
|
|
1,809,511 |
|
Total funds |
|
|
|
1,832,590 |
|
|
1,809,511 |
|
|
|
|
|
|
|
|
The directors are 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 directors acknowledge their 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. |
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006. |
|
|
|
|
M R Daniel |
Director |
Approved by the board on 24 July 2024 |
|
|
Notes to the Abridged Accounts |
for the year ended 31 October 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The abridged 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. Turnover includes revenue earned from the sale of goods and from voluntary contributions. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
|
|
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: |
|
|
Freehold buildings |
not depreciated |
|
Plant and machinery |
15% reducing balance |
|
Fixtures, fittings, tools and equipment |
15% reducing balance |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
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. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
5 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Total |
£ |
|
Cost |
|
At 1 November 2022 |
1,877,621 |
|
Additions |
499 |
|
Disposals |
(315) |
|
At 31 October 2023 |
1,877,805 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2022 |
229,851 |
|
Charge for the year |
8,514 |
|
At 31 October 2023 |
238,365 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2023 |
1,639,440 |
|
At 31 October 2022 |
1,647,770 |
|
|
4 |
Related party transactions |
|
|
The company has received a loan from M R Daniel, a director, the loan amounted to £15.000 at 31 October 2023 (2022 £15,000) |
|
The company has received a loan from J Daniel, a relative of M R Daniel, a director, the loan amounted to £10.000 at 31 October 2023 (2022 £10,000) |
|
The above loans are given 'interest free' and are repayable upon demand. |
|
5 |
Controlling party |
|
|
The company is cotrolled by the directors. |
|
|
6 |
Other information |
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|
SOZO MINISTRIES INTERNATIONAL is a private company limited by guarantee and incorporated in England. Its registered office is: |
|
Dunwood Oaks |
|
Danes Road |
|
Awbridge |
|
Romsey, Hampshire |
|
SO51 0GF |
|
7 |
Status of the company |
|
|
The company is limited by guarantee, and each member of the company guarantees to pay up to £50 towards the costs of any liabilities incurred in the event of the company being wound up. |