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REGISTERED NUMBER: 12843262 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SOAK INTERIORS LIMITED

SOAK INTERIORS LIMITED (REGISTERED NUMBER: 12843262)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


SOAK INTERIORS LIMITED (REGISTERED NUMBER: 12843262)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,934 44,855

CURRENT ASSETS
Stocks 7,450 9,995
Debtors 5 24,518 42,915
Cash at bank 7,273 10,158
39,241 63,068
CREDITORS
Amounts falling due within one year 6 152,422 143,480
NET CURRENT LIABILITIES (113,181 ) (80,412 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(78,247

)

(35,557

)

PROVISIONS FOR LIABILITIES 7 6,637 8,523
NET LIABILITIES (84,884 ) (44,080 )

CAPITAL AND RESERVES
Called up share capital 8 30 30
Retained earnings (84,914 ) (44,110 )
SHAREHOLDERS' FUNDS (84,884 ) (44,080 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SOAK INTERIORS LIMITED (REGISTERED NUMBER: 12843262)

BALANCE SHEET - continued
31 MARCH 2024


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 23 September 2024 and were signed on its behalf by:




P J Colbert - Director



L Thomas - Director


SOAK INTERIORS LIMITED (REGISTERED NUMBER: 12843262)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Soak Interiors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12843262

Registered office: Rock Valley
Off Bath Lane
Mansfield
Nottinghamshire
NG18 2HA

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 33% on cost and 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.

SOAK INTERIORS LIMITED (REGISTERED NUMBER: 12843262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


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 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 68,078
DEPRECIATION
At 1 April 2023 23,223
Charge for year 9,921
At 31 March 2024 33,144
NET BOOK VALUE
At 31 March 2024 34,934
At 31 March 2023 44,855

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,851 20,927
Other debtors 7,667 21,988
24,518 42,915

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 37,833
Trade creditors 40,464 73,965
Taxation and social security 64,738 15,645
Other creditors 47,220 16,037
152,422 143,480

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,637 8,523

SOAK INTERIORS LIMITED (REGISTERED NUMBER: 12843262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 8,523
Utilised during year (1,886 )
Balance at 31 March 2024 6,637

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30 Ordinary Shares 1 30 30

9. ULTIMATE CONTROLLING PARTY

The company was under the joint control of Mr Thomas & Mr Colbert throughout the current and previous period.