Registered number
04547286
Soft Sell Group Limited
Filleted Accounts
31 December 2023
Soft Sell Group Limited
Registered number: 04547286
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 4,000
Tangible assets 4 21,394 8,033
21,394 12,033
Current assets
Stocks 20,187 20,283
Debtors 5 60,256 81,609
Cash at bank and in hand 238,135 135,027
318,578 236,919
Creditors: amounts falling due within one year 6 (176,329) (123,149)
Net current assets 142,249 113,770
Net assets 163,643 125,803
Capital and reserves
Called up share capital 100 100
Profit and loss account 163,543 125,703
Shareholders' funds 163,643 125,803
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr Ayub Khan
Director
Approved by the board on 18 March 2024
Soft Sell Group Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 15% reducing balance method
Motor Vehicles 25% reducing balance method
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 100,000
At 31 December 2023 100,000
Amortisation
At 1 January 2023 96,000
Provided during the year 4,000
At 31 December 2023 100,000
Net book value
At 31 December 2023 -
At 31 December 2022 4,000
Goodwill is wrtitten off over its useful economic life of 20 years
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 30,132 22,055 52,187
Additions 1,436 19,000 20,436
Disposals - (6,430) (6,430)
At 31 December 2023 31,568 34,625 66,193
Depreciation
At 1 January 2023 27,525 16,629 44,154
Charge for the year 607 5,986 6,593
On disposals - (5,948) (5,948)
At 31 December 2023 28,132 16,667 44,799
Net book value
At 31 December 2023 3,436 17,958 21,394
At 31 December 2022 2,607 5,426 8,033
5 Debtors 2023 2022
£ £
Trade debtors 48,518 71,905
Other debtors 11,738 9,704
60,256 81,609
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,626 12,542
Credit card a/c 13,069 9,764
Director's account 85,783 55,627
Taxation and social security costs 64,750 43,055
Other creditors 2,101 2,161
176,329 123,149
7 Other information
Soft Sell Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
74 Darwen Street
Blackburn
Lancashire
BB2 2BL
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