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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

SOVEREIGN TECHNOLOGIES LIMITED

SOVEREIGN TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10930262)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SOVEREIGN TECHNOLOGIES LIMITED

COMPANY INFORMATION
For The Year Ended 31 August 2024







DIRECTOR: J S Drissell





REGISTERED OFFICE: Unit 1, St Stephens Court
15 - 17 St Stephens Road
Bournemouth
Dorset
BH2 6LA





REGISTERED NUMBER: 10930262 (England and Wales)






SOVEREIGN TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10930262)

BALANCE SHEET
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 340 380
Tangible assets 5 15,442 14,534
15,782 14,914

CURRENT ASSETS
Debtors 6 3,325 2,465
Cash at bank 8,277 32,745
11,602 35,210
CREDITORS
Amounts falling due within one year 7 24,754 42,156
NET CURRENT LIABILITIES (13,152 ) (6,946 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,630 7,968

PROVISIONS FOR LIABILITIES 2,123 1,607
NET ASSETS 507 6,361

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 407 6,261
SHAREHOLDERS' FUNDS 507 6,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 3 April 2025 and were signed by:





J S Drissell - Director


SOVEREIGN TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10930262)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 August 2024

1. STATUTORY INFORMATION

Sovereign Technologies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other intangible assets are being amortised over their estimated useful life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SOVEREIGN TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10930262)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 August 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2023
and 31 August 2024 399
AMORTISATION
At 1 September 2023 19
Charge for year 40
At 31 August 2024 59
NET BOOK VALUE
At 31 August 2024 340
At 31 August 2023 380

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 21,722
Additions 5,434
At 31 August 2024 27,156
DEPRECIATION
At 1 September 2023 7,188
Charge for year 4,526
At 31 August 2024 11,714
NET BOOK VALUE
At 31 August 2024 15,442
At 31 August 2023 14,534

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,325 2,465

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,588 -
Taxation and social security 18,485 39,952
Other creditors 2,681 2,204
24,754 42,156

SOVEREIGN TECHNOLOGIES LIMITED (REGISTERED NUMBER: 10930262)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 August 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. OTHER FINANCIAL COMMITMENTS

The company had total commitments at the balance sheet date of £6,843 (2023 - £13,160).