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REGISTERED NUMBER: 10848589 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st July 2024

for

Sourcepac Ltd

Sourcepac Ltd (Registered number: 10848589)






Contents of the Financial Statements
for the Year Ended 31st July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sourcepac Ltd

Company Information
for the Year Ended 31st July 2024







DIRECTOR: Mr G J Ambrose





REGISTERED OFFICE: Central Chambers
227 London Road
Hadleigh
Essex
SS7 2RF





REGISTERED NUMBER: 10848589 (England and Wales)





ACCOUNTANTS: Field & Co LLP
Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF

Sourcepac Ltd (Registered number: 10848589)

Balance Sheet
31st July 2024

31/7/24 31/7/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,024 8,801

CURRENT ASSETS
Debtors 5 1,650 -
Cash at bank and in hand 35,146 30,640
36,796 30,640
CREDITORS
Amounts falling due within one year 6 42,763 29,738
NET CURRENT (LIABILITIES)/ASSETS (5,967 ) 902
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,057

9,703

PROVISIONS FOR LIABILITIES 7 2,310 1,789
NET ASSETS 1,747 7,914

CAPITAL AND RESERVES
Called up share capital 8 6 6
Retained earnings 9 1,741 7,908
SHAREHOLDERS' FUNDS 1,747 7,914

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st July 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.

Sourcepac Ltd (Registered number: 10848589)

Balance Sheet - continued
31st July 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th March 2025 and were signed by:





Mr G J Ambrose - Director


Sourcepac Ltd (Registered number: 10848589)

Notes to the Financial Statements
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

Sourcepac Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Sourcepac Ltd (Registered number: 10848589)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st August 2023 16,840
Additions 3,729
At 31st July 2024 20,569
DEPRECIATION
At 1st August 2023 8,039
Charge for year 2,506
At 31st July 2024 10,545
NET BOOK VALUE
At 31st July 2024 10,024
At 31st July 2023 8,801

No fixed assets are subject to HP agreements or Finance leases.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Other debtors 1,650 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade creditors (11 ) 361
Taxation and social security 41,130 29,044
Other creditors 1,644 333
42,763 29,738

Sourcepac Ltd (Registered number: 10848589)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

7. PROVISIONS FOR LIABILITIES
31/7/24 31/7/23
£    £   
Deferred tax 2,310 1,789

Deferred
tax
£   
Balance at 1st August 2023 1,789
Provided during year 521
Balance at 31st July 2024 2,310

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/7/24 31/7/23
value: £    £   
1 Ordinary £1 1 1
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
1 Ordinary E £1 1 1
6 6

9. RESERVES
Retained
earnings
£   

At 1st August 2023 7,908
Profit for the year 104,131
Dividends (110,298 )
At 31st July 2024 1,741

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr G J Ambrose.