2022-11-012023-10-312023-10-31false12961384Sodah Brand 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Sodah Brand Ltd

Registered Number
12961384
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

Sodah Brand Ltd
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

ALAFE - MULLINGS, Sandra Olayinka

Registered Address

74 Flamstead Road
Dagenham
RM9 4JL

Registered Number

12961384 (England and Wales)
Sodah Brand Ltd
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3-4,000
Tangible assets4254369
2544,369
Current assets
Debtors6,46922,319
Cash at bank and on hand73,91211,229
80,38133,548
Creditors amounts falling due within one year5(34,879)(23,724)
Net current assets (liabilities)45,5029,824
Total assets less current liabilities45,75614,193
Creditors amounts falling due after one year6(2,475)(14,169)
Net assets43,28124
Capital and reserves
Called up share capital11
Profit and loss account43,28023
Shareholders' funds43,28124
The financial statements were approved and authorised for issue by the Director on 30 July 2024, and are signed on its behalf by:
ALAFE - MULLINGS, Sandra Olayinka
Director
Registered Company No. 12961384
Sodah Brand Ltd
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The 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).
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
2.Average number of employees

20232022
Average number of employees during the year21
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 November 2212,00012,000
At 31 October 2312,00012,000
Amortisation and impairment
At 01 November 228,0008,000
Charge for year4,0004,000
At 31 October 2312,00012,000
Net book value
At 31 October 23--
At 31 October 224,0004,000
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 November 221,1081,108
Additions278278
At 31 October 231,3861,386
Depreciation and impairment
At 01 November 22739739
Charge for year393393
At 31 October 231,1321,132
Net book value
At 31 October 23254254
At 31 October 22369369
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables2,825-
Bank borrowings and overdrafts-6,373
Taxation and social security30,54213,323
Other creditors11-
Accrued liabilities and deferred income1,5014,028
Total34,87923,724
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts2,47514,169
Total2,47514,169