Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30falseother business support services2023-07-0122falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12698481 2023-07-01 2024-06-30 12698481 2022-07-01 2023-06-30 12698481 2024-06-30 12698481 2023-06-30 12698481 c:Director1 2023-07-01 2024-06-30 12698481 d:OfficeEquipment 2023-07-01 2024-06-30 12698481 d:OfficeEquipment 2024-06-30 12698481 d:OfficeEquipment 2023-06-30 12698481 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 12698481 d:CurrentFinancialInstruments 2024-06-30 12698481 d:CurrentFinancialInstruments 2023-06-30 12698481 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 12698481 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12698481 d:ShareCapital 2024-06-30 12698481 d:ShareCapital 2023-06-30 12698481 d:RetainedEarningsAccumulatedLosses 2024-06-30 12698481 d:RetainedEarningsAccumulatedLosses 2023-06-30 12698481 c:OrdinaryShareClass1 2023-07-01 2024-06-30 12698481 c:OrdinaryShareClass1 2024-06-30 12698481 c:FRS102 2023-07-01 2024-06-30 12698481 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12698481 c:FullAccounts 2023-07-01 2024-06-30 12698481 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12698481 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-07-01 2024-06-30 12698481 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-06-30 12698481 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-30 12698481 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12698481










SOLD BRANDS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
SOLD BRANDS LTD
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 7


 
SOLD BRANDS LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOLD BRANDS LTD
FOR THE YEAR ENDED 30 JUNE 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sold Brands Ltd for the year ended 30 June 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Sold Brands Ltd, as a body, in accordance with the terms of our engagement letter dated 10 May 2022Our work has been undertaken solely to prepare for your approval the financial statements of Sold Brands Ltd and state those matters that we have agreed to state to the Board of Directors of Sold Brands Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sold Brands Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Sold Brands Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sold Brands Ltd. You consider that Sold Brands Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Sold Brands Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
7 The Close
Norwich
Norfolk
NR1 4DJ
26 March 2025
Page 1

 
SOLD BRANDS LTD
REGISTERED NUMBER: 12698481

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,334
2,688

  
1,334
2,688

Current assets
  

Debtors: amounts falling due within one year
 5 
1,660
10,412

Cash at bank and in hand
  
5,034
9,710

  
6,694
20,122

Creditors: amounts falling due within one year
 6 
(10,637)
(24,378)

Net current liabilities
  
 
 
(3,943)
 
 
(4,256)

Total assets less current liabilities
  
(2,609)
(1,568)

Provisions for liabilities
  

Deferred tax
  
(253)
(511)

  
 
 
(253)
 
 
(511)

Net liabilities
  
(2,862)
(2,079)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
(2,863)
(2,080)

  
(2,862)
(2,079)


Page 2

 
SOLD BRANDS LTD
REGISTERED NUMBER: 12698481
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider 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 year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 income and retained earnings 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 26 March 2025.




S Roddis
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
SOLD BRANDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company is a private company incorporated in the United Kingdom and limited by shares. It is registered in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. The company's trading address is Norwich, Norfolk.
The company's principal activity is that of brand development services and related marketing material.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, and other sales taxes. 

 
2.3

Leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.

Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

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.

Page 4

 
SOLD BRANDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Office equipment
-
33%
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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).






Page 5

 
SOLD BRANDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 July 2023
4,063



At 30 June 2024

4,063



Depreciation


At 1 July 2023
1,375


Charge for the year on owned assets
1,354



At 30 June 2024

2,729



Net book value



At 30 June 2024
1,334



At 30 June 2023
2,688

Page 6

 
SOLD BRANDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Trade debtors
-
7,212

Other debtors
1,000
1,000

Prepayments and accrued income
660
2,200

1,660
10,412



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
775
-

Other taxation and social security
5,868
12,138

Other creditors
2,854
11,335

Accruals and deferred income
1,140
905

10,637
24,378



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100  Ordinary shares of £0.01 each
1
1



8.


Related party transactions

The balance on the directors' loan account as at 30 June 2024 was £2,854 (2023: £11,335) owing to the directors from the company, as included in other creditors note 6 above. The loan is repayable on demand and no interest has been charged.

 
Page 7