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REGISTERED NUMBER: 05006892 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Somins Limited

Somins Limited (Registered number: 05006892)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Somins Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N Somaiya
D Somaiya





SECRETARY: D Somaiya





REGISTERED OFFICE: 212 Kenton Road
Kenton
Harrow
Middlesex
HA3 8BX





REGISTERED NUMBER: 05006892 (England and Wales)





ACCOUNTANTS: Tanna & Co
Chartered Accountants
Lynx House
Ferndown
Northwood
Middlesex
HA6 1PQ

Somins Limited (Registered number: 05006892)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 120,000 120,000
Tangible assets 5 30,156 30,190
150,156 150,190

CURRENT ASSETS
Debtors 6 9,908 9,563
Cash at bank (8,622 ) 1,306
1,286 10,869
CREDITORS
Amounts falling due within one year 7 11,488 24,215
NET CURRENT LIABILITIES (10,202 ) (13,346 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

139,954

136,844

CREDITORS
Amounts falling due after more than one
year

8

61,994

59,462
NET ASSETS 77,960 77,382

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Retained earnings 10 67,960 67,382
SHAREHOLDERS' FUNDS 77,960 77,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Somins Limited (Registered number: 05006892)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 10 May 2024 and were signed on its behalf by:




N Somaiya - Director



D Somaiya - Director


Somins Limited (Registered number: 05006892)

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

1. STATUTORY INFORMATION

Somins 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.

Goodwill
In the opinion of the directors the market value of goodwill is in excess of its costs and has therefore not been amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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.

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.

Turnover
Turnover represents commissions and licence fees receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Somins Limited (Registered number: 05006892)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 120,000
NET BOOK VALUE
At 31 March 2024 120,000
At 31 March 2023 120,000

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 30,055 17,654 47,709
DEPRECIATION
At 1 April 2023 - 17,519 17,519
Charge for year - 34 34
At 31 March 2024 - 17,553 17,553
NET BOOK VALUE
At 31 March 2024 30,055 101 30,156
At 31 March 2023 30,055 135 30,190

Improvements to property of £30,055, included in plant and machinery, have not been depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 9,908 9,563

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 4,974 18,442
Corporation tax 1,064 2,203
Social security and other taxes 70 10
Accrued expenses 5,380 3,560
11,488 24,215

Somins Limited (Registered number: 05006892)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 2-5 years 6,641 11,736
Directors loan accounts 55,353 47,726
61,994 59,462

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
10,000 Ordinary £1 10,000 10,000

10. RESERVES
Retained
earnings
£   

At 1 April 2023 67,382
Profit for the year 4,578
Dividends (4,000 )
At 31 March 2024 67,960

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company has leased, from the directors and their family members, the premises at 212 Kenton Road.
Harrow, Middlesex, HA3 8BX. The annual rental commencing 1st April 2004 is £18,000.