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Company Registration No. 10550129 (England and Wales)
Sjotta Limited Unaudited accounts for the period from 1 February 2023 to 31 March 2024
Sjotta Limited Unaudited accounts Contents
Page
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Sjotta Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,240 
7,321 
Investment property
1,100,000 
1,100,000 
1,105,240 
1,107,321 
Current assets
Debtors
416 
466 
Cash at bank and in hand
13,713 
18,589 
14,129 
19,055 
Creditors: amounts falling due within one year
(1,040,740)
(1,094,728)
Net current liabilities
(1,026,611)
(1,075,673)
Total assets less current liabilities
78,629 
31,648 
Provisions for liabilities
Deferred tax
(3,581)
(3,473)
Net assets
75,048 
28,175 
Capital and reserves
Called up share capital
1 
1 
Fair value reserve
7,623 
7,623 
Profit and loss account
67,424 
20,551 
Shareholders' funds
75,048 
28,175 
For the period ending 31 March 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 30 October 2024 and were signed on its behalf by
S Grundy Director Company Registration No. 10550129
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Sjotta Limited Notes to the Accounts for the period from 1 February 2023 to 31 March 2024
1
Statutory information
Sjotta Limited is a private company, limited by shares, registered in England and Wales, registration number 10550129. The registered office is 3 Silver Birches, Stanton St. John, Oxford, OX33 1HH.
2
Compliance with accounting standards
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the provisions of FRS 102 Section 1A Small Entities.
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 period, 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. 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 the profit or loss. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
3 years straight line
Investment property
Investment properties, which are properties held to earn rentals and/or for capital appreciation, are measured initially at cost (purchase price and directly attributable expenditure) and subsequently are measured using the fair value model and stated at their fair value as at the end of the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the director, these properties are held primarily for their investment potential and so their fair value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of FRS102 Section 16 "Investment Property" have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit would have been reduced by depreciation. The amount of depreciation cannot reasonably be quantified and the amount which might otherwise has been shown cannot be separately identified or quantified.
Deferred taxation
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 accounts. 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.
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Sjotta Limited Notes to the Accounts for the period from 1 February 2023 to 31 March 2024
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 February 2023
1,634 
6,559 
2,150 
10,343 
Additions
431 
- 
- 
431 
At 31 March 2024
2,065 
6,559 
2,150 
10,774 
Depreciation
At 1 February 2023
646 
2,077 
299 
3,022 
Charge for the period
369 
1,307 
836 
2,512 
At 31 March 2024
1,015 
3,384 
1,135 
5,534 
Net book value
At 31 March 2024
1,050 
3,175 
1,015 
5,240 
At 31 January 2023
988 
4,482 
1,851 
7,321 
5
Investment property
2024 
£ 
Fair value at 1 February 2023
1,100,000 
At 31 March 2024
1,100,000 
Investment property comprises of one house of multiple occupation. The fair value of the investment property has been provided by an independent professional. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
416 
466 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
264 
- 
Taxes and social security
11,724 
5,313 
Loans from directors
1,027,552 
1,088,395 
Accruals
1,200 
1,020 
1,040,740 
1,094,728 
At the period end, the company owed the director £1,027,552 (2023: £1,088,395). No interest has been charged on the loan and there are no repayment terms.
8
Average number of employees
During the period the average number of employees was 1 (2023: 1).
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