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REGISTERED NUMBER: 09605050 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Sofmag Investments Limited

Sofmag Investments Limited (Registered number: 09605050)






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


Sofmag Investments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: A Stylianou





SECRETARY: Ms M Papadopoulos





REGISTERED OFFICE: 67 Westow Street
Upper Norwood
London
SE19 3RW





REGISTERED NUMBER: 09605050 (England and Wales)





ACCOUNTANTS: CWF & Partners Ltd
Chartered Accountants
67 Westow Street
Upper Norwood
London
SE19 3RW

Sofmag Investments Limited (Registered number: 09605050)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes $    $    $    $   
FIXED ASSETS
Investments 5 4,089,686 4,089,686

CURRENT ASSETS
Debtors 6 300,000 -
Cash at bank 2,214 14,298
302,214 14,298
CREDITORS
Amounts falling due within one year 7 317,887 17,338
NET CURRENT LIABILITIES (15,673 ) (3,040 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,074,013

4,086,646

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 4,074,011 4,086,644
SHAREHOLDERS' FUNDS 4,074,013 4,086,646

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 26 September 2024 and were signed by:





A Stylianou - Director


Sofmag Investments Limited (Registered number: 09605050)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Sofmag Investments 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.

The presentation currency of the financial statements is the US Dollar ($).


The company maintains a place of business in Cyprus at Renatou Kartesiou, 17 Agios Athanasios, 4105, Limassol, Cyprus.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
$   
COST
At 1 January 2023
and 31 December 2023 4,089,686
NET BOOK VALUE
At 31 December 2023 4,089,686
At 31 December 2022 4,089,686

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Leonik Limited
Registered office: United Kingdom
Nature of business: Investment Company
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
$    $   
Aggregate capital and reserves 9,493,958 9,985,079
Profit/(loss) for the year 468,879 (251,221 )

Sofmag Investments Limited (Registered number: 09605050)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS - continued

Step Ta Limited
Registered office: United Kingdom
Nature of business: Investment Company
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
$    $   
Aggregate capital and reserves 3,980,483 6,576,739
Profit/(loss) for the year 914,200 (1,073,709 )

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
$    $   
Amounts owed by group undertakings 300,000 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
$    $   
Bank loans and overdrafts 464 -
Trade creditors 329 3,376
Amounts owed to group undertakings 300,000 -
Other creditors 17,094 13,962
317,887 17,338

8. TAXATION

The company has received clearance from HMRC that the company will be treated as a non-resident in the United Kingdom for the purposes of its Corporation Tax liabilities and as such no Corporation Tax is due in the United Kingdom.

The company is registered with the Cyprus tax authorities with the Cyprus Tax Identification Code (TIC) 12902961B is treated as a resident of Cyprus and its worldwide income is liable to Income Tax in accordance with the Income Tax Law of the Republic of Cyprus.