Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31false2022-04-01false11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11393578 2022-04-01 2023-03-31 11393578 2021-04-01 2022-03-31 11393578 2023-03-31 11393578 2022-03-31 11393578 c:Director1 2022-04-01 2023-03-31 11393578 d:CurrentFinancialInstruments 2023-03-31 11393578 d:CurrentFinancialInstruments 2022-03-31 11393578 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11393578 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11393578 d:ShareCapital 2023-03-31 11393578 d:ShareCapital 2022-03-31 11393578 d:RetainedEarningsAccumulatedLosses 2023-03-31 11393578 d:RetainedEarningsAccumulatedLosses 2022-03-31 11393578 c:OrdinaryShareClass1 2022-04-01 2023-03-31 11393578 c:OrdinaryShareClass1 2023-03-31 11393578 c:FRS102 2022-04-01 2023-03-31 11393578 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11393578 c:FullAccounts 2022-04-01 2023-03-31 11393578 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11393578 2 2022-04-01 2023-03-31 11393578 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 11393578














SOHO MARKETS (LONDON) LTD

 
UNAUDITED

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
SOHO MARKETS (LONDON) LTD
REGISTERED NUMBER:11393578

BALANCE SHEET
AS AT 31 MARCH 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
306,000
306,000

  
306,000
306,000

Current assets
  

Debtors
 5 
4,554,772
4,488,637

Cash at bank and in hand
 6 
19
631

  
4,554,791
4,489,268

Creditors: amounts falling due within one year
 7 
(5,140,272)
(4,961,841)

Net current liabilities
  
 
 
(585,481)
 
 
(472,573)

Total assets less current liabilities
  
(279,481)
(166,573)

Net liabilities
  
(279,481)
(166,573)


Capital and reserves
  

Called up share capital 
 9 
1,000
1,000

Profit and loss account
  
(280,481)
(167,573)

  
(279,481)
(166,573)


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 October 2024.




D Panchal
Director

The notes on pages 2 to 4 form part of these financial statements.

1

 
SOHO MARKETS (LONDON) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Soho Markets (London) Ltd is a private company, limited by shares, registered in England and Wales, registration number 11393578. The registered office is 46a Carnaby Street, Top Floor, London, W1F 9PS.

The principal activity of the company continued to be that of holding investments.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Joint ventures

Joint ventures are held at cost less impairment.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Creditors

Short-term creditors are measured at the transaction price.

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors and creditors, bank and other loans and balances with participating interests.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.
 
2

 
SOHO MARKETS (LONDON) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

  
2.9

Prior year adjustment

The director has identified that administrative expenses, interest payable, interest receivable, amounts owed by joint ventures, other debtors, other loans and other creditors had not been correctly recognised in the prior year financial statements. The comparatives have been restated accordingly. The net effect of this restatement is to decrease the brought forward profit and loss account by £199,214.


3.


Employees


The average monthly number of employees, including the director, during the year was 1 (2022 - 1).
 

4.


Fixed asset investments





Investment in joint ventures

£



Cost


At 1 April 2022
306,000



At 31 March 2023
306,000




5.

Debtors

As restated
2023
2022
£
£



Amounts owed by joint ventures
4,376,452
4,310,316

Other debtors
178,320
178,321

4,554,772
4,488,637



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
19
631


3

 
SOHO MARKETS (LONDON) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Bank loans
50,000
50,000

Other loans
5,024,272
4,547,841

Other creditors
46,000
352,000

Accruals and deferred income
20,000
12,000

5,140,272
4,961,841



8.


Loans


Analysis of the maturity of loans is given below:


As restated
2023
2022
£
£

Amounts falling due within one year

Bank loans
50,000
50,000

Other loans
5,024,272
4,547,841


5,074,272
4,597,841


Included within other loans at the balance sheet date are loans from third parties, which are repayable on demand and attract interest at rates between 6% and 15% per annum.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 ordinary shares of £1 each
1,000
1,000

There is a single class of ordinary share. There are no restrictions on the distributions of dividends and the repayment of capital.

 
4