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Registered number: 12851678













Sojo Services Ltd

Financial statements
Information for filing with the registrar

31 December 2024




 
Sojo Services Ltd


Balance sheet
At 31 December 2024

31 December
30 September
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
19,827
27,867

Tangible fixed assets
 5 
19,438
31,332

  
39,265
59,199

Current assets
  

Debtors
 6 
38,912
750

Cash at bank and in hand
  
367,477
979,901

  
406,389
980,651

Creditors: amounts falling due within one year
 7 
(60,946)
(45,361)

Net current assets
  
 
 
345,443
 
 
935,290

Total assets less current liabilities
  
384,708
994,489

  

Net assets
  
384,708
994,489


Capital and reserves
  

Called up share capital 
  
2
2

Share premium account
  
2,062,606
2,062,606

Profit and loss account
  
(1,677,900)
(1,068,119)

Shareholders' funds
  
384,708
994,489


1

 
Sojo Services Ltd

    
Balance sheet (continued)
At 31 December 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 February 2025.




J Philips
Director

Company registered number: 12851678
The notes on pages 3 to 7 form part of these financial statements. 

2

 
Sojo Services Ltd
 
 

Notes to the financial statements
Period ended 31 December 2024

1.


General information

The company is a private company limited by shares, incorporated and domiciled in the United Kingdom. The address of the registered office is Unit 2, Colour House, Bentley Road, London, N1 4FG.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Going concern

The company incurred a loss during the period; however, this was anticipated and remains within the director’s expectations. The director has assessed the company’s financial position, cash flow projections, and available funding sources and is confident that the company has sufficient resources to continue its operations. As a result, the director believes that the going concern assumption remains appropriate in the preparation of these financial statements.

 
2.3

Revenue

Revenue represents fees receivable during the period, stated net of value added tax. Revenue is recognised when the appropriate service has been delivered. 

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


3

 
Sojo Services Ltd
 

 
Notes to the financial statements
Period ended 31 December 2024

2.Accounting policies (continued)

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
5
years
Goodwill
-
10
years

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
reducing balance
Office furniture
-
15%
reducing balance
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the period was 8 (2023: 12). 

4

 
Sojo Services Ltd
 
 

Notes to the financial statements
Period ended 31 December 2024

4.


Intangible assets






Dev'ment costs
Goodwill
Total

£
£
£



Cost


At 1 October 2023
31,160
2,000
33,160



At 31 December 2024

31,160
2,000
33,160



Amortisation


At 1 October 2023
5,143
150
5,293


Charge for the period
7,790
250
8,040



At 31 December 2024

12,933
400
13,333



Net book value



At 31 December 2024
18,227
1,600
19,827



At 30 September 2023
26,017
1,850
27,867



5

 
Sojo Services Ltd
 
 

Notes to the financial statements
Period ended 31 December 2024

5.


Tangible fixed assets







Plant and machinery
Office furniture
Computer equipment
Total

£
£
£
£



Cost


At 1 October 2023
13,779
7,246
19,474
40,499


Additions
1,052
-
66
1,118


Historic input VAT reclaim
(1,351)
(123)
(2,786)
(4,260)



At 31 December 2024

13,480
7,123
16,754
37,357



Depreciation


At 1 October 2023
1,324
1,317
6,526
9,167


Charge for the period
2,519
1,112
6,098
9,729


Adj for historic VAT reclaim
(105)
(15)
(857)
(977)



At 31 December 2024

3,738
2,414
11,767
17,919



Net book value



At 31 December 2024
9,742
4,709
4,987
19,438



At 30 September 2023
12,455
5,929
12,948
31,332


6.


Debtors

31 December
30 September
2024
2023
£
£


Trade debtors
38,912
750

38,912
750


6

 
Sojo Services Ltd
 
 

Notes to the financial statements
Period ended 31 December 2024

7.


Creditors: amounts falling due within one year

31 December
30 September
2024
2023
£
£

Trade creditors
2,903
9,070

Other taxation and social security
27,678
18,873

Other creditors
8,735
12,588

Accruals and deferred income
21,630
4,830

60,946
45,361


 
7