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Registration number: 04381132

Soho Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Soho Consulting Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 7

 

Soho Consulting Limited

Company Information

Directors

SCP Owen

HAH Owen

SK Owen

CC Owen

Company secretary

SK Owen

Registered office

Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

Accountants

Shaw Gibbs Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

Soho Consulting Limited

(Registration number: 04381132)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Receivables

5

64,791

252,832

Cash at bank and in hand

 

113,802

113,718

 

178,593

366,550

Payables: Amounts falling due within one year

6

(78,599)

(90,800)

Total assets less current liabilities

 

99,994

275,750

Provisions for liabilities

232

217

Net assets

 

100,226

275,967

Equity

 

Called up share capital

9

100

100

Retained earnings

100,126

275,867

Shareholders' funds

 

100,226

275,967

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

The financial statements of Soho Consulting Limited were approved and authorised for issue by the Board on 4 November 2024 and signed on its behalf by:

.........................................

SCP Owen
Director

 

Soho Consulting Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

1

General information

Soho Consulting Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Soho Consulting Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Property, plant and equipment

Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

4 years cost

Fixtures and fittings

4 years cost

Computer equipment

3 years cost

Motor Vehicle

4 years cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Receivables

Receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Inventories

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

Soho Consulting Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Soho Consulting Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)

4

Property, plant and equipment

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

84,600

14,500

99,100

At 31 March 2024

84,600

14,500

99,100

Depreciation

At 1 April 2023

84,600

14,500

99,100

At 31 March 2024

84,600

14,500

99,100

Carrying amount

At 31 March 2024

-

-

-

5

Receivables

Current

2024
£

2023
£

Trade receivables

-

192,000

Prepayments

4,791

832

Other receivables

60,000

60,000

 

64,791

252,832

 

Soho Consulting Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)

6

Payables

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

29,000

29,000

Trade payables

 

7,006

1,245

Social security and other taxes

 

3,522

32,401

Other payables

 

18,845

18,845

Accruals

 

8,962

3,605

Income tax liability

11,264

5,704

 

78,599

90,800

7

Provisions for liabilities

Deferred tax
£

Total
£

At 1 April 2023

(217)

(217)

Increase (decrease) in existing provisions

(15)

(15)

At 31 March 2024

(232)

(232)

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

29,000

29,000

9

Share capital and reserves

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100