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REGISTERED NUMBER: 10195090 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 August 2024

for

South Ormsby Resources Limited

South Ormsby Resources Limited (Registered number: 10195090)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


South Ormsby Resources Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: J B Thornes
M S Ferrand





REGISTERED OFFICE: c/o Tindle's LLP, Medway House
Fudan Way
Teesdale Business Park
Stockton-on-Tees
TS17 6EN





REGISTERED NUMBER: 10195090 (England and Wales)





ACCOUNTANTS: Tindle's LLP
Chartered Accountants and Business Advisers
Medway House
Fudan Way
Teesdale Business Park
Stockton on Tees
TS17 6EN

South Ormsby Resources Limited (Registered number: 10195090)

Abridged Balance Sheet
31 August 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 118,810 593
Cash at bank and in hand 87,371 66,484
206,181 67,077
CREDITORS
Amounts falling due within one year 1,538,172 1,423,961
NET CURRENT LIABILITIES (1,331,991 ) (1,356,884 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,331,991

)

(1,356,884

)

CAPITAL AND RESERVES
Called up share capital 6 2 2
Retained earnings (1,331,993 ) (1,356,886 )
SHAREHOLDERS' FUNDS (1,331,991 ) (1,356,884 )

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 directors acknowledge their 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:





M S Ferrand - Director


South Ormsby Resources Limited (Registered number: 10195090)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

South Ormsby Resources 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
Research and development expenditure is written off as incurred, except that identifiable development expenditure incurred on an individual project is capitalised as an intangible asset if the technical, commercial and financial feasibility of the projected can be demonstrated as required by paragraph 18.8H of FRS 102.

Capitalised development expenditure is initially measured at cost. After initial recognition the cost model is applied requiring the asset to be carried at cost less any accumulated amortisation and accumulated impairment losses.

Amortisation commences when development is complete and the asset is available for use, with the cost being amortised evenly over the period of expected future benefit of five years.

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 - 33% 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.

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.

South Ormsby Resources Limited (Registered number: 10195090)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2023
and 31 August 2024 288,183
AMORTISATION
At 1 September 2023
and 31 August 2024 288,183
NET BOOK VALUE

At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2023
and 31 August 2024 11,700
DEPRECIATION
At 1 September 2023
and 31 August 2024 11,700
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
500 Ordinary A £0.00 2 1 1
500 Ordinary B £0.00 2 1 1
2 2