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REGISTERED NUMBER: 07886871 (England and Wales)















SOTA TATTOO LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






SOTA TATTOO LTD (REGISTERED NUMBER: 07886871)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SOTA TATTOO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: M J Faulkner





REGISTERED OFFICE: 1A
Barons Close House
East Street
Llantwit Major
Vale of Glamorgan
CF61 1XY





REGISTERED NUMBER: 07886871 (England and Wales)





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

SOTA TATTOO LTD (REGISTERED NUMBER: 07886871)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,680 5,850
Tangible assets 5 842 1,130
5,522 6,980

CURRENT ASSETS
Stocks 2,500 300
Cash at bank and in hand 2,206 2,612
4,706 2,912
CREDITORS
Amounts falling due within one year 6 7,414 5,584
NET CURRENT LIABILITIES (2,708 ) (2,672 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,814 4,308

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 2,813 4,307
SHAREHOLDERS' FUNDS 2,814 4,308

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

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

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th November 2024 and were signed by:





M J Faulkner - Director


SOTA TATTOO LTD (REGISTERED NUMBER: 07886871)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

SOTA Tattoo Ltd 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.

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

Goodwill
Goodwill is amortised on a straight line basis over its estimated useful life of ten years.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SOTA TATTOO LTD (REGISTERED NUMBER: 07886871)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 11,700
AMORTISATION
At 1st April 2023 5,850
Amortisation for year 1,170
At 31st March 2024 7,020
NET BOOK VALUE
At 31st March 2024 4,680
At 31st March 2023 5,850

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st April 2023
and 31st March 2024 6,553 3,274 2,205 12,032
DEPRECIATION
At 1st April 2023 5,897 2,864 2,141 10,902
Charge for year 164 103 21 288
At 31st March 2024 6,061 2,967 2,162 11,190
NET BOOK VALUE
At 31st March 2024 492 307 43 842
At 31st March 2023 656 410 64 1,130

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 887
Other creditors 7,414 4,697
7,414 5,584

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1