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Registered Number: 11418070
England and Wales

 

 

 

THE SOUL SANCTUARY LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Directors Catherine Meffan
Luke Peters
Registered Number 11418070
Registered Office 42 Lytton Road,
New Barnet
Barnet
EN5 5BY
Accountants The Expert Eye
8 Lytton Road
New Barnet
Barnet
EN5 5BY
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 75,387    78,076 
Tangible fixed assets 4 7,111    10,881 
82,498    88,957 
Current assets      
Debtors 5 39,378    39,256 
Cash at bank and in hand 722,367    587,739 
761,745    626,995 
Creditors: amount falling due within one year 6 (79,619)   (95,842)
Net current assets 682,126    531,153 
 
Total assets less current liabilities 764,624    620,110 
Provisions for liabilities 7 (20,625)   (22,239)
Net assets 743,999    597,871 
 

Capital and reserves
     
Called up share capital 101    101 
Profit and loss account 743,898    597,770 
Shareholders' funds 743,999    597,871 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 March 2025 and were signed on its behalf by:


-------------------------------
Catherine Meffan
Director
-------------------------------
Luke Peters
Director
2
General Information
The Soul Sanctuary Ltd is a private company, limited by shares, registered in England and Wales, registration number 11418070, registration address 42 Lytton Road,, New Barnet, Barnet, EN5 5BY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20 Straight Line
Fixtures and Fittings 20 Straight Line
Computer Equipment 33 Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 July 2023 112,665    112,665 
Additions 22,352    22,352 
Disposals  
At 30 June 2024 135,017    135,017 
Amortisation
At 01 July 2023 34,589    34,589 
Charge for year 25,041    25,041 
On disposals  
At 30 June 2024 59,630    59,630 
Net book values
At 30 June 2024 75,387    75,387 
At 30 June 2023 78,076    78,076 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 July 2023 1,370    10,318    11,042    22,730 
Additions      
Disposals      
At 30 June 2024 1,370    10,318    11,042    22,730 
Depreciation
At 01 July 2023 822    3,409    7,618    11,849 
Charge for year 274    2,052    1,444    3,770 
On disposals      
At 30 June 2024 1,096    5,461    9,062    15,619 
Net book values
Closing balance as at 30 June 2024 274    4,857    1,980    7,111 
Opening balance as at 01 July 2023 548    6,909    3,424    10,881 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income 39,378    39,256 
39,378    39,256 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 4    10,595 
Corporation Tax 48,327    50,436 
PAYE & Social Security   1,057 
Accrued Expenses 9,669    23,798 
Other Creditors 4,763    254 
Directors' Current Accounts 6,765    302 
VAT 10,091    9,400 
79,619    95,842 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 20,625    22,239 
20,625    22,239 

3