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REGISTERED NUMBER: 01966238 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

SODASKILL LIMITED

SODASKILL LIMITED (REGISTERED NUMBER: 01966238)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SODASKILL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: S Gill
S S Gill





SECRETARY: Mrs M K Gill





REGISTERED OFFICE: 1&2 Mercia Business Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX





REGISTERED NUMBER: 01966238 (England and Wales)





ACCOUNTANTS: Armstrongs
Chartered Accountants and Tax Advisers
1 & 2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX

SODASKILL LIMITED (REGISTERED NUMBER: 01966238)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 663,000 741,000
Tangible assets 5 54,623 13,693
717,623 754,693

CURRENT ASSETS
Stocks 6 53,494 52,000
Debtors 7 1,240,982 640,017
Cash at bank 56,539 342,791
1,351,015 1,034,808
CREDITORS
Amounts falling due within one year 8 492,799 405,940
NET CURRENT ASSETS 858,216 628,868
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,575,839

1,383,561

CREDITORS
Amounts falling due after more than one
year

9

(365,879

)

(370,848

)

PROVISIONS FOR LIABILITIES (13,656 ) (2,507 )
NET ASSETS 1,196,304 1,010,206

CAPITAL AND RESERVES
Called up share capital 12 336 335
Revaluation reserve 13 124,192 124,192
Capital redemption reserve 13 667 667
Retained earnings 13 1,071,109 885,012
SHAREHOLDERS' FUNDS 1,196,304 1,010,206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

SODASKILL LIMITED (REGISTERED NUMBER: 01966238)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 28 November 2024 and were signed on its behalf by:





S Gill - Director


SODASKILL LIMITED (REGISTERED NUMBER: 01966238)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Sodaskill 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover from the sale of pharmaceutical goods is recognised when significant risks and rewards of ownership of the goods have transferred to buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on collection by the customer of pharmaceutical goods sold.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty five 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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 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.


SODASKILL LIMITED (REGISTERED NUMBER: 01966238)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 1,950,000
AMORTISATION
At 1 December 2022 1,209,000
Amortisation for year 78,000
At 30 November 2023 1,287,000
NET BOOK VALUE
At 30 November 2023 663,000
At 30 November 2022 741,000

SODASKILL LIMITED (REGISTERED NUMBER: 01966238)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 140,838 4,150 - 144,988
Additions 5,201 46,290 5,811 57,302
At 30 November 2023 146,039 50,440 5,811 202,290
DEPRECIATION
At 1 December 2022 127,607 3,688 - 131,295
Charge for year 2,765 11,689 1,918 16,372
At 30 November 2023 130,372 15,377 1,918 147,667
NET BOOK VALUE
At 30 November 2023 15,667 35,063 3,893 54,623
At 30 November 2022 13,231 462 - 13,693

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 46,290
At 30 November 2023 46,290
DEPRECIATION
Charge for year 11,573
At 30 November 2023 11,573
NET BOOK VALUE
At 30 November 2023 34,717

6. STOCKS
2023 2022
£    £   
Stocks 53,494 52,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 471,247 294,558
Amounts owed by group undertakings 25,000 -
Amounts owed by participating interests 702,540 163,059
Other debtors 42,195 182,400
1,240,982 640,017

SODASKILL LIMITED (REGISTERED NUMBER: 01966238)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 33,569 26,680
Hire purchase contracts (see note 10) 9,258 -
Trade creditors 216,242 235,368
Amounts owed to participating interests 22,926 -
Taxation and social security 202,242 136,139
Other creditors 8,562 7,753
492,799 405,940

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 330,390 370,848
Hire purchase contracts (see note 10) 35,489 -
365,879 370,848

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 9,258 -
Between one and five years 35,489 -
44,747 -

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 363,959 397,528

Clydesdale Bank PLC holds fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, uncalled capital, buildings, fixtures, fixed plant & machinery dated 15 October 2011.

SODASKILL LIMITED (REGISTERED NUMBER: 01966238)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
333 Ordinary £1 333 333
1 Ordinary A £1 1 1
1 Ordinary B £1 1 -
1 Ordinary C £1 1 1
336 335

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
1 Share capital 3 £1 1 -

The following shares were issued during the year for cash at par :

1 Ordinary B share of £1

13. RESERVES
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 December 2022 885,012 124,192 667 1,009,871
Profit for the year 236,097 - - 236,097
Dividends (50,000 ) - - (50,000 )
At 30 November 2023 1,071,109 124,192 667 1,195,968