2023-06-012024-05-312024-05-31false10750252SOMERLED 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SOMERLED LIMITED

Registered Number
10750252
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

SOMERLED LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

SIMMONS, Lindsay
STANNARD, Helen

Company Secretary

STANNARD, Helen

Registered Address

5 Wolfmere Lane
Greatham
GU33 6AL

Registered Number

10750252 (England and Wales)
SOMERLED LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3955,000955,000
955,000955,000
Current assets
Debtors984724
Cash at bank and on hand11,2027,495
12,1868,219
Creditors amounts falling due within one year4(405,315)(408,321)
Net current assets (liabilities)(393,129)(400,102)
Total assets less current liabilities561,871554,898
Creditors amounts falling due after one year5(405,594)(399,568)
Provisions for liabilities6(21,250)(21,250)
Net assets135,027134,080
Capital and reserves
Called up share capital1,0001,000
Profit and loss account134,027133,080
Shareholders' funds135,027134,080
The financial statements were approved and authorised for issue by the Board of Directors on 14 January 2025, and are signed on its behalf by:
SIMMONS, Lindsay
Director
Registered Company No. 10750252
SOMERLED LIMITED
Notes to the Financial Statements
for the year ended 31 May 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 June 23955,000955,000
At 31 May 24955,000955,000
Net book value
At 31 May 24955,000955,000
At 31 May 23955,000955,000
4.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts400,867404,849
Taxation and social security22238
Accrued liabilities and deferred income4,2263,434
Total405,315408,321
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts405,594399,568
Total405,594399,568
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)21,25021,250
Total21,25021,250