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Company Registration No. 11787222 (England and Wales)
Sourcewhere Limited Unaudited accounts for the year ended 31 January 2024
Sourcewhere Limited Unaudited accounts Contents
Page
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Sourcewhere Limited Company Information for the year ended 31 January 2024
Director
Erica Elizabeth Wright
Company Number
11787222 (England and Wales)
Registered Office
86-90 PAUL STREET 86-90 PAUL STREET 3RD FLOOR LONDON EC2A 4NE ENGLAND
Accountants
The Accountancy Cloud 1 Fore Street Avenue London EC2Y 9DT
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Sourcewhere Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,552 
2,235 
Current assets
Debtors
6,313 
73,390 
Cash at bank and in hand
41,623 
4,721 
47,936 
78,111 
Creditors: amounts falling due within one year
(628,307)
(547,217)
Net current liabilities
(580,371)
(469,106)
Net liabilities
(577,819)
(466,871)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(577,919)
(466,971)
Shareholders' funds
(577,819)
(466,871)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 October 2024 and were signed on its behalf by
Erica Elizabeth Wright Director Company Registration No. 11787222
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Sourcewhere Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Sourcewhere Limited is a private company, limited by shares, registered in England and Wales, registration number 11787222. The registered office is 86-90 PAUL STREET 86-90 PAUL STREET, 3RD FLOOR, LONDON, EC2A 4NE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line over 5 years
Computer equipment
Straight line over 4 years
Research and Development Tax Credit
During the financial year, Sourcewhere Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Sourcewhere Limited Notes to the Accounts for the year ended 31 January 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
169 
3,026 
3,195 
Additions
1,189 
- 
1,189 
At 31 January 2024
1,358 
3,026 
4,384 
Depreciation
At 1 February 2023
71 
889 
960 
Charge for the year
113 
759 
872 
At 31 January 2024
184 
1,648 
1,832 
Net book value
At 31 January 2024
1,174 
1,378 
2,552 
At 31 January 2023
98 
2,137 
2,235 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
6,313 
3,763 
Amounts falling due after more than one year
Accrued income and prepayments
- 
69,627 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
619 
- 
Taxes and social security
631 
820 
Other creditors
(189)
(267)
Loans from directors
627,246 
536,246 
Accruals
- 
10,418 
628,307 
547,217 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Sourcewhere Limited Notes to the Accounts for the year ended 31 January 2024
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Erica Elizabeth Wright
536,246 
- 
- 
536,246 
536,246 
- 
- 
536,246 
The directors' loan is interest-free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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