Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 04421999 Mr D V Patel Mr B C Patel Mrs S V Patel Mrs S B Patel Vistra Company Secretaries Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04421999 2023-03-31 04421999 2024-03-31 04421999 2023-04-01 2024-03-31 04421999 frs-core:CurrentFinancialInstruments 2024-03-31 04421999 frs-core:ShareCapital 2024-03-31 04421999 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04421999 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04421999 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04421999 frs-bus:SmallEntities 2023-04-01 2024-03-31 04421999 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04421999 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04421999 frs-bus:Director1 2023-04-01 2024-03-31 04421999 frs-bus:Director2 2023-04-01 2024-03-31 04421999 frs-bus:Director3 2023-04-01 2024-03-31 04421999 frs-bus:Director4 2023-04-01 2024-03-31 04421999 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04421999 frs-countries:EnglandWales 2023-04-01 2024-03-31 04421999 2022-03-31 04421999 2023-03-31 04421999 2022-04-01 2023-03-31 04421999 frs-core:CurrentFinancialInstruments 2023-03-31 04421999 frs-core:ShareCapital 2023-03-31 04421999 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04421999
Sovereign (Southend) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 04421999
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 1,773 3,212
Cash at bank and in hand 44,471 39,311
46,244 42,523
Creditors: Amounts Falling Due Within One Year 5 (668,567 ) (666,041 )
NET CURRENT ASSETS (LIABILITIES) (622,323 ) (623,518 )
TOTAL ASSETS LESS CURRENT LIABILITIES (622,323 ) (623,518 )
NET LIABILITIES (622,323 ) (623,518 )
CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Profit and Loss Account (623,323 ) (624,518 )
SHAREHOLDERS' FUNDS (622,323) (623,518)
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr B C Patel
Director
13/11/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Sovereign (Southend) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04421999 . The registered office is Suite 1, 3rd Floor, 11-12 St. James' Square, London, SW1Y 4LB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover represent amounts received for ground rent and services.
2.4. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,200 3,199
Other debtors 573 13
1,773 3,212
Page 2
Page 3
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,242
Other creditors 668,567 664,799
668,567 666,041
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 3