2023-02-012024-01-312024-01-31false12419099SOZMERD 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SOZMERD LIMITED

Registered Number
12419099
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

SOZMERD LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

CAGIN, Okkes

Registered Address

293 Green Lanes
Palmers Green
N13 4XS

Registered Number

12419099 (England and Wales)
SOZMERD LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets35,0005,000
Tangible assets445,39623,462
50,39628,462
Current assets
Debtors217,193144,399
Cash at bank and on hand143,495168,216
360,688312,615
Creditors amounts falling due within one year5(239,818)(207,738)
Net current assets (liabilities)120,870104,877
Total assets less current liabilities171,266133,339
Creditors amounts falling due after one year6(67,697)(34,801)
Provisions for liabilities8(4,458)(4,458)
Net assets99,11194,080
Capital and reserves
Called up share capital100100
Profit and loss account99,01193,980
Shareholders' funds99,11194,080
The financial statements were approved and authorised for issue by the Director on 22 October 2024, and are signed on its behalf by:
CAGIN, Okkes
Director
Registered Company No. 12419099
SOZMERD LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year1210
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 February 235,0005,000
At 31 January 245,0005,000
Net book value
At 31 January 245,0005,000
At 31 January 235,0005,000
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 February 2341,710-6,10547,815
Additions-35,400-35,400
At 31 January 2441,71035,4006,10583,215
Depreciation and impairment
At 01 February 2320,824-3,52924,353
Charge for year3,9728,85064413,466
At 31 January 2424,7968,8504,17337,819
Net book value
At 31 January 2416,91426,5501,93245,396
At 31 January 2320,886-2,57623,462
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables184,968153,148
Taxation and social security20,93020,930
Other creditors33,92033,660
Total239,818207,738
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts55,43034,801
Other creditors12,267-
Total67,69734,801
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts12,266-
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,4584,458
Total4,4584,458