SOJ Fiduciary Management Limited 07238818 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is financial intermediation Digita Accounts Production Advanced 6.30.9574.0 true true 07238818 2022-11-01 2023-10-31 07238818 2023-10-31 07238818 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-10-31 07238818 core:RetainedEarningsAccumulatedLosses 2023-10-31 07238818 core:ShareCapital 2023-10-31 07238818 core:CurrentFinancialInstruments 2023-10-31 07238818 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 07238818 core:Non-currentFinancialInstruments 2023-10-31 07238818 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 07238818 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-10-31 07238818 bus:SmallEntities 2022-11-01 2023-10-31 07238818 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 07238818 bus:FullAccounts 2022-11-01 2023-10-31 07238818 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 07238818 bus:RegisteredOffice 2022-11-01 2023-10-31 07238818 bus:Director1 2022-11-01 2023-10-31 07238818 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-11-01 2023-10-31 07238818 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07238818 bus:Agent1 2022-11-01 2023-10-31 07238818 core:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 07238818 core:ShareCapital 2022-11-01 2023-10-31 07238818 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-11-01 2023-10-31 07238818 countries:EnglandWales 2022-11-01 2023-10-31 07238818 2022-10-31 07238818 core:RetainedEarningsAccumulatedLosses 2022-10-31 07238818 core:ShareCapital 2022-10-31 07238818 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-10-31 07238818 2021-11-01 2022-10-31 07238818 2022-10-31 07238818 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-10-31 07238818 core:CurrentFinancialInstruments 2022-10-31 07238818 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 07238818 core:Non-currentFinancialInstruments 2022-10-31 07238818 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 07238818 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-10-31 07238818 core:RetainedEarningsAccumulatedLosses 2021-11-01 2022-10-31 07238818 core:ShareCapital 2021-11-01 2022-10-31 07238818 2021-10-31 07238818 core:RetainedEarningsAccumulatedLosses 2021-10-31 07238818 core:ShareCapital 2021-10-31 07238818 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07238818

SOJ Fiduciary Management Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

SOJ Fiduciary Management Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 11

Detailed Profit and Loss Account

12 to 13

 

SOJ Fiduciary Management Limited

Company Information

Director

Mr Paul Andrew Gravatt

Registered office

Maranello
Watch House Green
Felsted
Essex
CM6 3EF

Accountants

Accentis Limited
Parallel House
32 London Road
Guildford
GU1 2AB

 

SOJ Fiduciary Management Limited

Director's Report for the Year Ended 31 October 2023

The director presents his report and the financial statements for the year ended 31 October 2023.

Director of the company

The director who held office during the year was as follows:

Mr Paul Andrew Gravatt

Principal activity

The principal activity of the company is financial intermediation

Small companies provision statement

This report has 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.

Approved and authorised by the director on 30 July 2024
 

.........................................
Mr Paul Andrew Gravatt
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
SOJ Fiduciary Management Limited
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SOJ Fiduciary Management Limited for the year ended 31 October 2023 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of SOJ Fiduciary Management Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SOJ Fiduciary Management Limited and state those matters that we have agreed to state to the Board of Directors of SOJ Fiduciary Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SOJ Fiduciary Management Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SOJ Fiduciary Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of SOJ Fiduciary Management Limited. You consider that SOJ Fiduciary Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of SOJ Fiduciary Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Accentis Limited
Parallel House
32 London Road
Guildford
GU1 2AB

30 July 2024

 

SOJ Fiduciary Management Limited

Profit and Loss Account for the Year Ended 31 October 2023

Note

2023
£

2022
£

Turnover

 

8,646

3,623

Gross profit

 

8,646

3,623

Administrative expenses

 

(15,953)

(3,235)

Operating (loss)/profit

 

(7,307)

388

Interest payable and similar expenses

 

(1,053)

(1,736)

Loss before tax

(8,360)

(1,348)

Loss for the financial year

 

(8,360)

(1,348)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

SOJ Fiduciary Management Limited

Statement of Comprehensive Income for the Year Ended 31 October 2023

2023
£

2022
£

Loss for the year

(8,360)

(1,348)

Total comprehensive income for the year

(8,360)

(1,348)

 

SOJ Fiduciary Management Limited

(Registration number: 07238818)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

-

38,601

Cash at bank and in hand

 

170,068

217,177

 

170,068

255,778

Creditors: Amounts falling due within one year

5

(167,989)

(235,148)

Total assets less current liabilities

 

2,079

20,630

Creditors: Amounts falling due after more than one year

5

(17,077)

(27,268)

Net liabilities

 

(14,998)

(6,638)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

(14,999)

(6,639)

Shareholders' deficit

 

(14,998)

(6,638)

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.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 30 July 2024
 

.........................................
Mr Paul Andrew Gravatt
Director

 

SOJ Fiduciary Management Limited

Statement of Changes in Equity for the Year Ended 31 October 2023

Share capital
£

Retained earnings
£

Total
£

At 1 November 2022

1

(6,639)

(6,638)

Loss for the year

-

(8,360)

(8,360)

At 31 October 2023

1

(14,999)

(14,998)

Share capital
£

Retained earnings
£

Total
£

At 1 November 2021

1

(5,291)

(5,290)

Loss for the year

-

(1,348)

(1,348)

At 31 October 2022

1

(6,639)

(6,638)

 

SOJ Fiduciary Management Limited

Notes to the Unaudited 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:
Maranello
Watch House Green
Felsted
Essex
CM6 3EF

These financial statements were authorised for issue by the director on 30 July 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

SOJ Fiduciary Management Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Debtors

Current

2023
£

2022
£

Other debtors

-

38,601

 

-

38,601

 

SOJ Fiduciary Management Limited

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

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

10,192

9,733

Accruals and deferred income

 

5,415

5,415

Other creditors

 

152,382

220,000

 

167,989

235,148

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

17,077

27,268

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

ordinary share of £1 each

1

1

1

1

       

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

17,077

27,268

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,192

9,732

Bank overdrafts

-

1

10,192

9,733

 

SOJ Fiduciary Management Limited

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

8

Related party transactions

Loans from related parties

2023

Key management
£

Total
£

At start of period

220,000

220,000

Repaid

(220,000)

(220,000)

At end of period

-

-

2022

Key management
£

Total
£

At start of period

220,000

220,000

At end of period

220,000

220,000

 

SOJ Fiduciary Management Limited

Detailed Profit and Loss Account for the Year Ended 31 October 2023

2023
 £

2022
 £

turnover (analysed below)

8,646

3,623

Gross profit (%)

100%

100%

Administrative expenses

General administrative expenses (analysed below)

(15,163)

(1,813)

Finance charges (analysed below)

(790)

(1,422)

(15,953)

(3,235)

Operating (loss)/profit

(7,307)

388

Interest payable and similar charges (analysed below)

(1,053)

(1,736)

Loss before tax

(8,360)

(1,348)

 

SOJ Fiduciary Management Limited

Detailed Profit and Loss Account for the Year Ended 31 October 2023

2023
£

2022
£

   

Turnover

Rendering of services, UK

8,646

3,623

   

General administrative expenses

Accountancy fees

-

(1,800)

Legal and professional fees

(163)

(13)

Bad debts written off

(15,000)

-

(15,163)

(1,813)

   

Finance charges

Bank charges

(790)

(1,422)

   

   

Interest payable and similar expenses

Bank loan interest payable

(1,053)

(1,736)