IRIS Accounts Production v24.1.9.2 07084842 director 1.11.22 31.10.23 31.10.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh070848422022-10-31070848422023-10-31070848422022-11-012023-10-31070848422021-10-31070848422021-11-012022-10-31070848422022-10-3107084842ns15:EnglandWales2022-11-012023-10-3107084842ns14:PoundSterling2022-11-012023-10-3107084842ns10:Director12022-11-012023-10-3107084842ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3107084842ns10:SmallEntities2022-11-012023-10-3107084842ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3107084842ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3107084842ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3107084842ns10:FullAccounts2022-11-012023-10-3107084842ns10:CompanySecretary12022-11-012023-10-3107084842ns10:RegisteredOffice2022-11-012023-10-3107084842ns5:CurrentFinancialInstruments2023-10-3107084842ns5:CurrentFinancialInstruments2022-10-3107084842ns5:RetainedEarningsAccumulatedLosses2023-10-3107084842ns5:RetainedEarningsAccumulatedLosses2022-10-3107084842ns5:LandBuildings2022-10-3107084842ns5:PlantMachinery2022-10-3107084842ns5:MotorVehicles2022-10-3107084842ns5:LandBuildings2022-11-012023-10-3107084842ns5:PlantMachinery2022-11-012023-10-3107084842ns5:MotorVehicles2022-11-012023-10-3107084842ns5:LandBuildings2023-10-3107084842ns5:PlantMachinery2023-10-3107084842ns5:MotorVehicles2023-10-3107084842ns5:LandBuildings2022-10-3107084842ns5:PlantMachinery2022-10-3107084842ns5:MotorVehicles2022-10-3107084842ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3107084842ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3107084842ns5:Non-currentFinancialInstruments2023-10-3107084842ns5:Non-currentFinancialInstruments2022-10-31
REGISTERED NUMBER: 07084842 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Softhands Solutions Limited

Softhands Solutions Limited (Registered number: 07084842)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Softhands Solutions Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: M H Tariq





SECRETARY: M H Tariq





REGISTERED OFFICE: Unit 1 District Business Park
Birchills Street
Walsall
WS2 8NG





REGISTERED NUMBER: 07084842 (England and Wales)






Softhands Solutions Limited (Registered number: 07084842)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 198,178 200,711

CURRENT ASSETS
Stocks 110,000 105,550
Debtors 5 870,924 747,214
Cash at bank and in hand 334,134 618,124
1,315,058 1,470,888
CREDITORS
Amounts falling due within one year 6 (791,463 ) (469,303 )
NET CURRENT ASSETS 523,595 1,001,585
TOTAL ASSETS LESS CURRENT
LIABILITIES

721,773

1,202,296

CREDITORS
Amounts falling due after more than
one year

7

(83,681

)

(92,332

)
NET ASSETS 638,092 1,109,964

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 637,992 1,109,864
638,092 1,109,964

Softhands Solutions Limited (Registered number: 07084842)

Balance Sheet - continued
31 October 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





M H Tariq - Director


Softhands Solutions Limited (Registered number: 07084842)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

Softhands Solutions 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
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold Over 100 years
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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.


Softhands Solutions Limited (Registered number: 07084842)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2022 - 7 ) .

Softhands Solutions Limited (Registered number: 07084842)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 November 2022 199,881 13,840 6,950 220,671
Additions - 1,627 - 1,627
At 31 October 2023 199,881 15,467 6,950 222,298
DEPRECIATION
At 1 November 2022 9,994 5,948 4,018 19,960
Charge for year 1,999 1,428 733 4,160
At 31 October 2023 11,993 7,376 4,751 24,120
NET BOOK VALUE
At 31 October 2023 187,888 8,091 2,199 198,178
At 31 October 2022 189,887 7,892 2,932 200,711

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 142,724 193,616
Other debtors 728,200 553,598
870,924 747,214

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 14,877 12,702
Trade creditors 388,730 278,430
Taxation and social security 124,509 176,371
Other creditors 263,347 1,800
791,463 469,303

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 83,681 92,332

Softhands Solutions Limited (Registered number: 07084842)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.10.23 31.10.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 83,681 92,332

8. RELATED PARTY DISCLOSURES

During the year the company paid £31,417 (2022: £25,617) as rent to SSL Properties Ltd.

As of 31 October 2023, the company was owed £706,200 by SSL Properties Ltd.
The loan is repayable on demand.

Mr H Tariq was one of the directors of SSL Properties Ltd as of 31 October 2023.