Company Registration No. 10010913 (England and Wales)
Sophie Grace Compliance Ltd
Unaudited accounts
for the year ended 30 June 2024
Sophie Grace Compliance Ltd
Unaudited accounts
Contents
Sophie Grace Compliance Ltd
Company Information
for the year ended 30 June 2024
Company Number
10010913 (England and Wales)
Registered Office
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
United Kingdom
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
Sophie Grace Compliance Ltd
Accountants' report
Accountants' report to the director of Sophie Grace Compliance Ltd on the preparation of the unaudited statutory accounts for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Sophie Grace Compliance Ltd for the year ended
30 June 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Sophie Grace Compliance Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Sophie Grace Compliance Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sophie Grace Compliance Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Sophie Grace Compliance Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Sophie Grace Compliance Ltd. You consider that Sophie Grace Compliance Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Sophie Grace Compliance Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
18 July 2024
Sophie Grace Compliance Ltd
Statement of financial position
as at 30 June 2024
Cash at bank and in hand
98,760
168,139
Creditors: amounts falling due within one year
(62,386)
(80,082)
Net current assets
232,885
107,231
Net assets
232,967
107,342
Called up share capital
100
100
Profit and loss account
232,867
107,242
Shareholders' funds
232,967
107,342
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 September 2024 and were signed on its behalf by
Sophie Gerber
Director
Company Registration No. 10010913
Sophie Grace Compliance Ltd
Notes to the Accounts
for the year ended 30 June 2024
Sophie Grace Compliance Ltd is a private company, limited by shares, registered in England and Wales, registration number 10010913. The registered office is Suite 1-3, The Hop Exchange, 24 Southwark Street, London, SE1 1TY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Straight Line
Sophie Grace Compliance Ltd
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Amounts due from group undertakings etc.
124,511
19,174
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
47,248
1,883
Loans from directors
959
14,968
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
7
Transactions with related parties
Sophie Grace Pty Ltd is the 100% shareholder of Sophie Grace Compliance Ltd.
As at 30 June 2024, there is an outstanding loan owed of £124,510.94 from Sophie Grace AU.
During the financial period, Sophie Grace Compliance Ltd was charged for consulting costs from Sophie Grace Pty Ltd amounting to £104,017.53
Traction Fintech Ltd is a related party due to common control.
During the financial period, Sophie Grace Compliance Ltd charged consultancy services to Traction Fintech Ltd amounting to £312,000.
As at 30 June 2024, there is an outstanding debtor of £72,000 which was paid after the financial period ended.
Sophie Grace Compliance Ltd
Notes to the Accounts
for the year ended 30 June 2024
The controlling party is Sophie Grace Pty Ltd (Level 14, 4-6 Bligh Street, Sydney NSW 2000, Australia) by virtue of its 100% shareholding.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).