Registered number
05547814
SOZO MINISTRIES INTERNATIONAL
Filleted Abridged Accounts
31 October 2023
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
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.
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