REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
SOTIM LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
SOTIM LIMITED |
SOTIM LIMITED (REGISTERED NUMBER: 04036908) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SOTIM LIMITED |
Company Information |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
38 Craven Street |
London |
WC2N 5NG |
SOTIM LIMITED (REGISTERED NUMBER: 04036908) |
Balance Sheet |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | € | € |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings | ( |
) |
The director acknowledges her 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. |
SOTIM LIMITED (REGISTERED NUMBER: 04036908) |
Balance Sheet - continued |
31 DECEMBER 2023 |
The financial statements were approved by the director and authorised for issue on |
SOTIM LIMITED (REGISTERED NUMBER: 04036908) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Sotim Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures & fittings : 5% -15% on cost on a straight line basis. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
SOTIM LIMITED (REGISTERED NUMBER: 04036908) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
€ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | INVESTMENT PROPERTY |
Total |
€ |
FAIR VALUE |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Fair value at 31 December 2023 is represented by: |
€ |
Valuation in 2023 | 4,886,788 |
The director has reviewed the market conditions at year end date and confirmed that the fair value of the investment property as at 31/12/2023 has not materially changed in respect of the previous year market value. |
6. | DEBTORS |
2023 | 2022 |
€ | € |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
VAT |
Prepayments and accrued income |
SOTIM LIMITED (REGISTERED NUMBER: 04036908) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | DEBTORS - continued |
2023 | 2022 |
€ | € |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
€ | € |
Trade creditors |
Tax |
Other creditors |
Amounts owed to shareholders | 9,879,371 | 11,187,329 |
Directors' loan accounts | 110 | - |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
€ | € |
Other creditors |
9. | CAPITAL COMMITMENTS |
2023 | 2022 |
€ | € |
Contracted but not provided for in the |
financial statements |
The above balance represents a capital commitment incurred by the company for the purchase of a property in Via Arno no.21 & no.33, Rome , Italy. |
10. | RELATED PARTY DISCLOSURES |
At year end the Company owed € 9,879,371 (2022: € 11,187,329) to its shareholder. The loan is payable on demand and interest free. |
11. | ULTIMATE CONTROLLING PARTY |
The company's immediate parent company is Private Trustees SA, an entity incorporated in Luxembourg. |
Private Trustees SA controls the company in its capacity as trustee of Trust Famiglia Santarelli. |