Company Registration No. 13435273 (England and Wales)
Soma Investments Ltd
Filleted accounts
for the year ended 30 June 2024
Soma Investments Ltd
Filleted accounts
Contents
Soma Investments Ltd
Company Information
for the year ended 30 June 2024
Company Number
13435273 (England and Wales)
Registered Office
90 Walm Lane
London
NW2 4QY
Accountants
YP Finance
Hawthorne House
17A Hawthorne Drive
Leicester
Leicestershire
LE5 6DL
Soma Investments Ltd
Statement of financial position
as at 30 June 2024
Investment property
1,214,800
1,190,800
Cash at bank and in hand
6,707
10,750
Creditors: amounts falling due within one year
(423,600)
(435,409)
Net current liabilities
(416,893)
(393,078)
Total assets less current liabilities
797,907
797,722
Creditors: amounts falling due after more than one year
(785,450)
(785,450)
Called up share capital
100
100
Profit and loss account
12,357
12,172
Shareholders' funds
12,457
12,272
For the year ending 30 June 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 March 2025 and were signed on its behalf by
Darren Somaiya
Director
Company Registration No. 13435273
Soma Investments Ltd
Notes to the Accounts
for the year ended 30 June 2024
Soma Investments Ltd is a private company, limited by shares, registered in England and Wales, registration number 13435273. The registered office is 90 Walm Lane, London, NW2 4QY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Fair value at 1 July 2023
1,190,800
Soma Investments Ltd
Notes to the Accounts
for the year ended 30 June 2024
Amounts falling due within one year
Accrued income and prepayments
-
31,581
6
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
1,231
-
Taxes and social security
1,455
-
Loans from directors
420,273
434,177
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
785,450
785,450
Allotted, called up and fully paid:
99 Ordinary shares A of £1 each
99
99
1 Ordinary shares B of £1 each
1
1
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).