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Company Registration No. 05626436 (England and Wales)
Sovalli Limited Unaudited accounts for the year ended 30 November 2023
Sovalli Limited Unaudited accounts Contents
Page
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Sovalli Limited Company Information for the year ended 30 November 2023
Director
Christopher Russell Jones
Secretary
CD Nominees Limited
Company Number
05626436 (England and Wales)
Registered Office
Westbourne House Main Street Haltwhistle NE49 0AZ United Kingdom
Accountants
Christian Dodd Westbourne House Main Street Haltwhistle Northumberland NE49 0AZ
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Sovalli Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
129,271 
151,964 
Investments
7,250 
7,250 
136,521 
159,214 
Current assets
Inventories
148,780 
250,000 
Debtors
1,429,976 
1,027,147 
Cash at bank and in hand
39,299 
12,052 
1,618,055 
1,289,199 
Creditors: amounts falling due within one year
(1,028,223)
(671,823)
Net current assets
589,832 
617,376 
Total assets less current liabilities
726,353 
776,590 
Creditors: amounts falling due after more than one year
(48,556)
(82,925)
Provisions for liabilities
Deferred tax
(32,317)
(37,990)
Net assets
645,480 
655,675 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
645,380 
655,575 
Shareholders' funds
645,480 
655,675 
For the year ending 30 November 2023 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 November 2024 and were signed on its behalf by
Christopher Russell Jones Director Company Registration No. 05626436
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Sovalli Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Sovalli Limited is a private company, limited by shares, registered in England and Wales, registration number 05626436. The registered office is Westbourne House, Main Street, Haltwhistle, NE49 0AZ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost, 20% on cost and 10% on cost
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments. The interest element of these obligations is charged to the profit and loss account over the period. The capital element of the future payments is treated as a liability.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Ulitmate Parent Undertaking
At the balance sheet date the company's parent undertaking was Shawfield Park Limited a company registered in England and Wales whose registered office is at Westbourne House, Main Street, Haltwhistle, NE49 0AZ. Shawfield Park Limited is exempt from the requirement to prepare group accounts.
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Sovalli Limited Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 December 2022
1,874 
289,033 
25,192 
56,004 
372,103 
Additions
600 
30,500 
4,973 
8,543 
44,616 
At 30 November 2023
2,474 
319,533 
30,165 
64,547 
416,719 
Depreciation
At 1 December 2022
1,041 
164,795 
12,728 
41,575 
220,139 
Charge for the year
365 
56,008 
3,027 
7,909 
67,309 
At 30 November 2023
1,406 
220,803 
15,755 
49,484 
287,448 
Net book value
At 30 November 2023
1,068 
98,730 
14,410 
15,063 
129,271 
At 30 November 2022
833 
124,238 
12,464 
14,429 
151,964 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
80,428 
- 
5
Investments
Other investments 
£ 
Valuation at 1 December 2022
7,250 
Valuation at 30 November 2023
7,250 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
25,190 
25,978 
Amounts due from group undertakings etc.
1,122,174 
923,874 
Accrued income and prepayments
13,717 
8,879 
Other debtors
54,548 
53,267 
1,215,629 
1,011,998 
Amounts falling due after more than one year
Other debtors
214,347 
15,149 
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Sovalli Limited Notes to the Accounts for the year ended 30 November 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
20,000 
20,001 
VAT
129,287 
145,885 
Obligations under finance leases and hire purchase contracts
41,490 
60,186 
Trade creditors
23,617 
15,451 
Taxes and social security
211,263 
204,238 
Other creditors
24,383 
94,685 
Accruals
578,183 
131,377 
1,028,223 
671,823 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
28,702 
47,852 
Obligations under finance leases and hire purchase contracts
19,854 
35,073 
48,556 
82,925 
Hire purchase contracts are secured by the assets to which they relate. Bank borrowings are secured by a fixed and floating charge over the company's assets.
9
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
32,317 
37,990 
2023 
2022 
£ 
£ 
Provision at start of year
37,990 
28,880 
(Credited)/charged to the profit and loss account
(5,673)
9,110 
Provision at end of year
32,317 
37,990 
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 the 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.
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Sovalli Limited Notes to the Accounts for the year ended 30 November 2023
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Christopher Russell Jones
15,150 
195,380 
50,270 
160,260 
15,150 
195,380 
50,270 
160,260 
Interest was charged on the loan at 2.25%.
11
Average number of employees
During the year the average number of employees was 13 (2022: 13).
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