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REGISTERED NUMBER: 02635219 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SODI-TECH EDM LIMITED

SODI-TECH EDM LIMITED (REGISTERED NUMBER: 02635219)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SODI-TECH EDM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P Capp
G J Capp
S J Stokes
M L Capp





SECRETARY: Mrs A Capp





REGISTERED OFFICE: Agincourt Road
Warwick
Warwickshire
CV34 6XZ





REGISTERED NUMBER: 02635219 (England and Wales)





AUDITORS: Saxon & Co Accountants Ltd
Statutory Auditors
Chartered Certified Accountants
Kings Chambers
Queens Cross
High Street
Dudley
West Midlands
DY1 1QT

SODI-TECH EDM LIMITED (REGISTERED NUMBER: 02635219)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 498,694 310,823

CURRENT ASSETS
Stocks 1,170,838 321,572
Debtors 5 1,228,293 1,068,094
Cash at bank 1,694,080 2,240,911
4,093,211 3,630,577
CREDITORS
Amounts falling due within one year 6 2,183,728 1,830,313
NET CURRENT ASSETS 1,909,483 1,800,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,408,177

2,111,087

PROVISIONS FOR LIABILITIES 17,963 -
NET ASSETS 2,390,214 2,111,087

CAPITAL AND RESERVES
Called up share capital 60 60
Capital redemption reserve 60 60
Retained earnings 2,390,094 2,110,967
SHAREHOLDERS' FUNDS 2,390,214 2,111,087

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





P Capp - Director


SODI-TECH EDM LIMITED (REGISTERED NUMBER: 02635219)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Sodi-Tech EDM Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling (£), which is also the company's functional currency.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance and 20% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date. Exchange differences are recognised in profit or loss in the period in which they arise.

SODI-TECH EDM LIMITED (REGISTERED NUMBER: 02635219)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 75,090 417,976 58,801 551,867
Additions 18,339 572,642 - 590,981
Disposals (13,620 ) (418,411 ) - (432,031 )
At 31 December 2023 79,809 572,207 58,801 710,817
DEPRECIATION
At 1 January 2023 73,351 117,142 50,551 241,044
Charge for year 2,400 89,197 4,125 95,722
Eliminated on disposal (13,620 ) (111,023 ) - (124,643 )
At 31 December 2023 62,131 95,316 54,676 212,123
NET BOOK VALUE
At 31 December 2023 17,678 476,891 4,125 498,694
At 31 December 2022 1,739 300,834 8,250 310,823

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,034,861 816,259
Other debtors 193,432 251,835
1,228,293 1,068,094

SODI-TECH EDM LIMITED (REGISTERED NUMBER: 02635219)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 785,419 816,194
Taxation 80,091 87,394
Social security and other taxes 76,289 69,428
VAT 38,294 167,994
Other creditors 54,511 38,237
Customers deposits 1,149,124 649,807
Directors' current accounts - 1,259
2,183,728 1,830,313

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 49,438 79,509
Between one and five years 662 37,798
50,100 117,307

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Saxon (Senior Statutory Auditor)
for and on behalf of Saxon & Co Accountants Ltd

9. LEGAL CLAIM

During the year the company brought a legal action. It is currently impracticable to estimate the financial effect of the claim.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
P Capp
Balance outstanding at start of year (1,259 ) (2,179 )
Amounts advanced 51,953 300,920
Amounts repaid (46,445 ) (300,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,249 (1,259 )

Advances to directors' were repayable on demand. Interest was charged by the company.

SODI-TECH EDM LIMITED (REGISTERED NUMBER: 02635219)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. ULTIMATE CONTROLLING PARTY

The controlling party is P Capp.