2023-07-012024-06-302024-06-30false14089268SOMO GROUP 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SOMO GROUP LTD

Registered Number
14089268
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

SOMO GROUP LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

MONTAKAB, Cyrus, Dr

Registered Address

79 Stevens House Jerome Place
Kingston Upon Thames
KT1 1HX

Registered Number

14089268 (England and Wales)
SOMO GROUP LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments31010
1010
Current assets
Debtors129,000250,000
Cash at bank and on hand502,607303,380
631,607553,380
Creditors amounts falling due within one year(51,659)(38,642)
Net current assets (liabilities)579,948514,738
Total assets less current liabilities579,958514,748
Net assets579,958514,748
Capital and reserves
Called up share capital1010
Profit and loss account579,948514,738
Shareholders' funds579,958514,748
The financial statements were approved and authorised for issue by the Director on 13 August 2024, and are signed on its behalf by:
MONTAKAB, Cyrus, Dr
Director
Registered Company No. 14089268
SOMO GROUP LTD
Notes to the Financial Statements
for the year ended 30 June 2024

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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year00
3.Fixed asset investments
The company owns 100% shares of its subsidiaries, Software Modernization Technologies Limited.

Total

£
Cost or valuation
At 01 July 2310
At 30 June 2410
Net book value
At 30 June 2410
At 30 June 2310