Company Registration No. 11958675 (England and Wales)
SOGEA-SATOM UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SOGEA-SATOM UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SOGEA-SATOM UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
1,926,534
4,185,184
Creditors: amounts falling due within one year
5
(563,233)
(2,944,156)
Net current assets
1,363,301
1,241,028
Capital and reserves
Called up share capital
6
5,000
5,000
Profit and loss reserves
1,358,301
1,236,028
Total equity
1,363,301
1,241,028

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 11 April 2025 and are signed on its behalf by:
G Ruscher
Director
Company Registration No. 11958675
SOGEA-SATOM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Sogea-Satom Uk Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Blossom Yard, Fourth Floor, London, United Kingdom, E1 6RS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 company's operations are carried out in a number of currencies. The directors have concluded that that the primary currency remains the Euro which is therefore considered the company's functional currency.

 

The presentational currency is different from the functional currency. Pound Sterling, remains the presentational currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. The company has received assurances of financial support from its parent undertaking for at least 12 months from date of signing of these accounts. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Turnover relates to commission receivable from group companies.

 

Turnover is recognised at the fair value of the consideration received or receivable for services provided to fellow group undertakings in the normal course of business, and is shown net of Value Added Tax.

 

Turnover is recognised upon purchase of the raw materials and fuels sourced for group companies.

1.4
Cash at bank and in hand

The company makes use of group cash pooling. Cash is received from the group companies when it is needed to settle liabilities. Receipts are transferred to group companies at the end of each day.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

SOGEA-SATOM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include amounts owed by group undertakings, other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.7
Foreign exchange

Gains and losses resulting from the settlement of foreign currency transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.

The trading results of the company are translated into presentation currency at the average exchange rates for the year. All assets and liabilities are translated at the exchange rates prevailing at that date. Opening equity balances are translated using the historical exchange rate at the date of the transaction. Gains and losses arising on translation from functional currency to presentation currency at the reporting end date are recognised in other comprehensive income.

2
Employees

There were no employees in either the current year or previous year.

3
Interest receivable and similar income
2023
2022
£
£
Interest receivable and similar income includes the following:
Interest receivable from group companies
35,976
2,275
SOGEA-SATOM UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
15,043
-
0
Amounts owed by group undertakings
1,907,243
4,181,591
Other debtors
4,248
3,593
1,926,534
4,185,184
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
569
12,604
Amounts owed to group undertakings
523,308
2,872,371
Corporation tax
-
0
28,603
Accruals and deferred income
39,356
30,578
563,233
2,944,156
6
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
5,000 Ordinary shares of £1 each
5,000
5,000
5,000
5,000
7
Parent company

The ultimate controlling party and immediate parent company is Sogea-Satom SAS, a company incorporated in France. This is the smallest group for which consolidated financial statements are prepared. It has a registered office address of 1973 bd de la Défense, CS 10268, 92757 Nanterre Cedex, France.

 

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Gilles Siow.
The auditor was HW Fisher Audit.
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