Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Dr Mark Andrew Peter Cashley 18/10/2010 08 October 2024 The principal activity of the Company during the financial year was that of property rental. SC387232 2024-03-31 SC387232 bus:Director1 2024-03-31 SC387232 2023-03-31 SC387232 core:CurrentFinancialInstruments 2024-03-31 SC387232 core:CurrentFinancialInstruments 2023-03-31 SC387232 core:ShareCapital 2024-03-31 SC387232 core:ShareCapital 2023-03-31 SC387232 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC387232 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC387232 core:LeaseholdImprovements 2023-03-31 SC387232 core:FurnitureFittings 2023-03-31 SC387232 core:LeaseholdImprovements 2024-03-31 SC387232 core:FurnitureFittings 2024-03-31 SC387232 2022-03-31 SC387232 bus:OrdinaryShareClass1 2024-03-31 SC387232 2023-04-01 2024-03-31 SC387232 bus:FilletedAccounts 2023-04-01 2024-03-31 SC387232 bus:SmallEntities 2023-04-01 2024-03-31 SC387232 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC387232 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC387232 bus:Director1 2023-04-01 2024-03-31 SC387232 core:LeaseholdImprovements core:TopRangeValue 2023-04-01 2024-03-31 SC387232 core:FurnitureFittings core:TopRangeValue 2023-04-01 2024-03-31 SC387232 2022-04-01 2023-03-31 SC387232 core:LeaseholdImprovements 2023-04-01 2024-03-31 SC387232 core:FurnitureFittings 2023-04-01 2024-03-31 SC387232 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC387232 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC387232 (Scotland)

SOHUM LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

SOHUM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

SOHUM LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
SOHUM LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 426,561 473,881
426,561 473,881
Current assets
Debtors 4 258 0
Cash at bank and in hand 7,875 5,305
8,133 5,305
Creditors: amounts falling due within one year 5 ( 561,548) ( 588,212)
Net current liabilities (553,415) (582,907)
Total assets less current liabilities (126,854) (109,026)
Provision for liabilities 6, 7 ( 6,950) ( 4,737)
Net liabilities ( 133,804) ( 113,763)
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account ( 133,806 ) ( 113,765 )
Total shareholder's deficit ( 133,804) ( 113,763)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Sohum Limited (registered number: SC387232) were approved and authorised for issue by the Director on 08 October 2024. They were signed on its behalf by:

Dr Mark Andrew Peter Cashley
Director
SOHUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
SOHUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sohum Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 26 Sherbrook Crescent, Dundee, DD3 8LX, Scotland, United Kingdom. The principal place of business is Inchgarth House, Forfar, Angus, DD8 1PU.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £133,804. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover received or receivable for property rental is recognised at fair value, net of VAT and other sales related taxes, and is recognised evenly over the period of lease.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 20 years straight line
Fixtures and fittings 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases


The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Total
£ £ £
Cost
At 01 April 2023 787,216 101,832 889,048
At 31 March 2024 787,216 101,832 889,048
Accumulated depreciation
At 01 April 2023 330,321 84,846 415,167
Charge for the financial year 39,361 7,959 47,320
At 31 March 2024 369,682 92,805 462,487
Net book value
At 31 March 2024 417,534 9,027 426,561
At 31 March 2023 456,895 16,986 473,881

4. Debtors

2024 2023
£ £
Other debtors 258 0

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other taxation and social security 0 2,432
Other creditors 561,548 585,780
561,548 588,212

6. Provision for liabilities

2024 2023
£ £
Deferred tax 6,950 4,737

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 4,737) 0
Charged to the Profit and Loss Account ( 2,213) ( 4,737)
At the end of financial year ( 6,950) ( 4,737)

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts owed to director 559,169 582,932

The above loan is unsecured, interest free and has no fixed terms of repayment.