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LONDON SOO LIMITED

Registered Number
12796605
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

LONDON SOO LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

SHIN, Hyesoo

Registered Address

Flat 8 Azure Building
59 Great Eastern Road
London
E15 1DX

Registered Number

12796605 (England and Wales)
LONDON SOO LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3364700
364700
Current assets
Stocks16,28316,776
Debtors499,43775,076
Cash at bank and on hand14,39626,256
130,116118,108
Creditors amounts falling due within one year5(130,280)(118,497)
Net current assets (liabilities)(164)(389)
Total assets less current liabilities200311
Net assets200311
Capital and reserves
Profit and loss account200311
Shareholders' funds200311
The financial statements were approved and authorised for issue by the Director on 14 January 2025, and are signed on its behalf by:
SHIN, Hyesoo
Director
Registered Company No. 12796605
LONDON SOO LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 231,008
At 31 August 241,008
Depreciation and impairment
At 01 September 23308
Charge for year336
At 31 August 24644
Net book value
At 31 August 24364
At 31 August 23700
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables53,11754,221
Other debtors45,84320,747
Prepayments and accrued income477108
Total99,43775,076
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables56,35657,748
Taxation and social security9,43613,770
Other creditors49,63842,875
Accrued liabilities and deferred income14,8504,104
Total130,280118,497
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Related party transactions
At the balance sheet date, the company owed £48,638 (2023 - £40,875) to Ms H Shin, the director.