Registered number
08326878
SONATEX LIMITED
Filleted Accounts
31 December 2023
SONATEX LIMITED
Registered number: 08326878
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,304,440 1,146,916
Current assets
Debtors 4 34,811 59,532
Cash at bank and in hand 278,562 447,978
313,373 507,510
Creditors: amounts falling due within one year 5 (202,798) (186,303)
Net current assets 110,575 321,207
Total assets less current liabilities 1,415,015 1,468,123
Creditors: amounts falling due after more than one year 6 (1,280,395) (1,291,952)
Net assets 134,620 176,171
Capital and reserves
Called up share capital 3,000 3,000
Profit and loss account 131,620 173,171
Shareholders' funds 134,620 176,171
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 members have 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.
A S Kullar
Director
Approved by the board on 4 September 2024
SONATEX 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 represents the amount received for rent charged during the year,
exclusive of VAT.
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 investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment - 10% per annum on cost.
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 recognised at transaction price including any transaction costs 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 recognised at transaction price net of any transaction costs.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Investment properties Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 January 2023 1,145,268 3,626 1,148,894
Additions 157,630 285 157,915
At 31 December 2023 1,302,898 3,911 1,306,809
Depreciation
At 1 January 2023 - 1,978 1,978
Charge for the year - 391 391
At 31 December 2023 - 2,369 2,369
Net book value
At 31 December 2023 1,302,898 1,542 1,304,440
At 31 December 2022 1,145,268 1,648 1,146,916
4 Debtors 2023 2022
£ £
Trade debtors 30,195 51,309
Other debtors 4,616 8,223
34,811 59,532
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts (Secured) 21,686 23,440
Trade creditors 168,865 151,416
Corporation tax 2,687 2,687
Accrued expenses 9,560 8,760
202,798 186,303
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans (Secured) 845,525 864,467
Other creditors 434,870 427,485
1,280,395 1,291,952
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 758,781 770,705
Secured bank loans 867,211 887,907
The bank loan is secured by charges over the freehold investment properties owned by
the company.
8 Other information
SONATEX LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
128 A Evington Road
Leicester
LE2 1HL
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