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REGISTERED NUMBER: 03735645 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

SOVEREIGN CARGO LIMITED

SOVEREIGN CARGO LIMITED (REGISTERED NUMBER: 03735645)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOVEREIGN CARGO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: N J Brotherton





REGISTERED OFFICE: Unit J4 Franklin House
Chaucer Business Park
Dittons Road
Polegate
East Sussex
BN26 6QH





REGISTERED NUMBER: 03735645 (England and Wales)





ACCOUNTANTS: Aequitas Limited
1 Swan Wood Park
Gun Hill
Horam
East Sussex
TN21 0LL

SOVEREIGN CARGO LIMITED (REGISTERED NUMBER: 03735645)

BALANCE SHEET
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,452 17,337

CURRENT ASSETS
Debtors 5 806,885 967,952
Cash at bank and in hand 3,966,549 3,459,908
4,773,434 4,427,860
CREDITORS
Amounts falling due within one year 6 866,253 572,669
NET CURRENT ASSETS 3,907,181 3,855,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,945,633

3,872,528

CAPITAL AND RESERVES
Called up share capital 102 102
Capital redemption reserve 100 100
Retained earnings 3,945,431 3,872,326
SHAREHOLDERS' FUNDS 3,945,633 3,872,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

SOVEREIGN CARGO LIMITED (REGISTERED NUMBER: 03735645)

BALANCE SHEET - continued
31 JULY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 October 2024 and were signed by:





N J Brotherton - Director


SOVEREIGN CARGO LIMITED (REGISTERED NUMBER: 03735645)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Sovereign Cargo 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.

2. ACCOUNTING POLICIES

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

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 50% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account as incurred.


Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

SOVEREIGN CARGO LIMITED (REGISTERED NUMBER: 03735645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 August 2023 6,986 36,049 61,165 104,200
Additions - 33,379 - 33,379
At 31 July 2024 6,986 69,428 61,165 137,579
DEPRECIATION
At 1 August 2023 3,274 24,906 58,683 86,863
Charge for year 878 8,904 2,482 12,264
At 31 July 2024 4,152 33,810 61,165 99,127
NET BOOK VALUE
At 31 July 2024 2,834 35,618 - 38,452
At 31 July 2023 3,712 11,143 2,482 17,337

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 738,692 898,124
Other debtors 68,193 69,828
806,885 967,952

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 601,643 319,662
Taxation and social security 106,418 163,392
Other creditors 158,192 89,615
866,253 572,669