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Registered number: 14295637
So-Mini Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
ICAEW
Unit 2A
The Cadcam Centre, High Force Rd, Riverside Park
Middlesbrough
Cleveland
TS2 1RH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14295637
31 August 2024 31 August 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,162 -
Tangible Assets 5 402,124 118,347
412,286 118,347
CURRENT ASSETS
Stocks 6 260,398 50,755
Debtors 7 205,469 103,258
Cash at bank and in hand 172,173 114,016
638,040 268,029
Creditors: Amounts Falling Due Within One Year 8 (1,167,553 ) (595,864 )
NET CURRENT ASSETS (LIABILITIES) (529,513 ) (327,835 )
TOTAL ASSETS LESS CURRENT LIABILITIES (117,227 ) (209,488 )
NET LIABILITIES (117,227 ) (209,488 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (117,327 ) (209,588 )
SHAREHOLDERS' FUNDS (117,227) (209,488)
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S Ali
Director
23/04/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
So-Mini Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14295637 . The registered office is 45 Linthorpe Road, Middlesbrough, TS1 5BS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold over 10 years
Plant & Machinery over 5 years
Fixtures & Fittings over 5 years
Computer Equipment over 3 years
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 131 (2023: 16)
131 16
4. Intangible Assets
Other
£
Cost
As at 1 September 2023 -
Additions 10,423
As at 31 August 2024 10,423
Amortisation
As at 1 September 2023 -
Provided during the period 261
As at 31 August 2024 261
...CONTINUED
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Net Book Value
As at 31 August 2024 10,162
As at 1 September 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 59,501 1,464 67,717 7,818 136,500
Additions 178,551 2,124 122,314 31,186 334,175
As at 31 August 2024 238,052 3,588 190,031 39,004 470,675
Depreciation
As at 1 September 2023 5,302 207 10,501 2,143 18,153
Provided during the period 12,999 518 26,767 10,114 50,398
As at 31 August 2024 18,301 725 37,268 12,257 68,551
Net Book Value
As at 31 August 2024 219,751 2,863 152,763 26,747 402,124
As at 1 September 2023 54,199 1,257 57,216 5,675 118,347
6. Stocks
31 August 2024 31 August 2023
£ £
Stock 260,398 50,755
7. Debtors
31 August 2024 31 August 2023
£ £
Due within one year
Trade debtors 84,004 6,239
Prepayments and accrued income 121,465 91,036
Other debtors - 5,983
205,469 103,258
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8. Creditors: Amounts Falling Due Within One Year
31 August 2024 31 August 2023
£ £
Trade creditors 218,929 24,320
Other taxes and social security 6,863 2,340
VAT 13,638 -
Other creditors 62,677 687
Accruals and deferred income 2,314 5,385
Directors' loan accounts 313,132 313,132
Amounts owed to related parties 550,000 250,000
1,167,553 595,864
9. Share Capital
31 August 2024 31 August 2023
£ £
Allotted, Called up and fully paid 100 100
10. Other Commitments
Total financial commitments which are not included in the balance sheet amount to £2,046,875 (2023: £507,813) relating to amounts payable under operating leases.  In respect of operating leases with break clauses exercisable by the company,  future minimum payments are taken up to the date of the break clause. 
11. Related Party Transactions
During the year the company received £300,000 (2023: £250,000) from a company under common control.  No amounts have been repaid. in the year leaving an amount outstanding of £550,000 (2023: £250,000).  No interest has been charged on the loan and amounts are repayable on demand.
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