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Registration number: 07790695

Soulbat Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Period from 1 October 2022 to 29 September 2023

 

Soulbat Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Soulbat Ltd

Company Information

Director

R T Melrose

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Soulbat Ltd

(Registration number: 07790695)
Balance Sheet as at 29 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

750

1,532

Current assets

 

Debtors

5

694

1,566

Cash at bank and in hand

 

4,684

3,253

 

5,378

4,819

Creditors: Amounts falling due within one year

6

(7,219)

(5,290)

Net current liabilities

 

(1,841)

(471)

Net (liabilities)/assets

 

(1,091)

1,061

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(1,092)

1,060

Shareholders' (deficit)/funds

 

(1,091)

1,061

For the financial period ending 29 September 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 period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 September 2024
 

.........................................
R T Melrose
Director

 

Soulbat Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 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:
8 High Street
Heathfield
East Sussex
TN21 8LS
England

The principal place of business is:
Oakhurst Farm
Horam
Heathfield
East Sussex
TN21 0LJ

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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Soulbat Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Fixtures,Fittings and equipment

10% reducing balance

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.

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 at the transaction price, 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 at the transaction price.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Soulbat Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0 (2022 - 0).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

2,840

2,840

At 29 September 2023

2,840

2,840

Depreciation

At 1 October 2022

1,308

1,308

Charge for the period

782

782

At 29 September 2023

2,090

2,090

Carrying amount

At 29 September 2023

750

750

At 30 September 2022

1,532

1,532

5

Debtors

2023
£

2022
£

Trade debtors

694

1,566

694

1,566

 

Soulbat Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

5,543

3,708

Accruals and deferred income

779

780

Director loan account

897

802

7,219

5,290

7

Related party transactions

Summary of transactions with other related parties

Chordbook Ltd
R T Melrose is a director and share holder.