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Registration number: 09241971

Sofies UK Consulting Limited

Financial Statements

for the Year Ended 31 December 2023

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Sofies UK Consulting Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 5

 

Sofies UK Consulting Limited

Company Information

Directors

Dr F Magalini

D D S Rochat

Registered office

Unit 12 Acorn Business Park,
Northarbour Road
Portsmouth
Hampshire
PO6 3TH

Auditor

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Sofies UK Consulting Limited

Statement of Financial Position as at 31 December 2023

Note

2023
£

(As restated)

2022
£

Current assets

 

Debtors

5

624,625

602,515

Creditors: Amounts falling due within one year

6

(62,186)

(54,308)

Net assets

 

562,439

548,207

Capital and reserves

 

Called up share capital

1

1

Retained earnings

562,438

548,206

Shareholders' funds

 

562,439

548,207

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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................

Dr F Magalini

Director

.........................................

D D S Rochat

Director

Company registration number: 09241971

 

Sofies UK Consulting Limited

Notes to the Financial Statements for the Year Ended 31 December 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:
Unit 12 Acorn Business Park,
Northarbour Road
Portsmouth
Hampshire
PO6 3TH

The principal activity of the company is that of consultancy services.

2

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 26 September 2024 was Martin Widdowson, who signed for and on behalf of Brebners.

3

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company ceased to trade during the year. Accordingly, the financial statements have been prepared on a basis other than going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of consultancy services in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises revenue in the period in which the service is provided, when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

 

Sofies UK Consulting Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 9).

5

Debtors

2023
£

2022
£

Amounts owed by group undertakings

602,515

602,515

Other debtors

22,110

-

624,625

602,515

 

Sofies UK Consulting Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

(As restated)

2022
£

Amounts owed to group undertakings

62,186

37,132

Taxation and social security

-

17,176

62,186

54,308

7

Related party transactions

Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions or amounts falling due with wholly owned undertakings.

8

Prior period adjustment

During the year the directors identified that certain cost of sales and administrative expenses recharged from group undertakings had been omitted from the previous years financial statements.This has been adjusted in the current year and the comparatives have been restated. The effect of the prior period adjustment is that net assets at 31 December 2022 are £51,515 less than previously stated and the profit for the year ended 31 December 2022 is £51,515 less than previously stated.