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REGISTERED NUMBER: 09659213 (England and Wales)

















Sonix Developments Limited

Financial Statements

for the Year Ended 31 August 2024






Sonix Developments Limited (Registered number: 09659213)

Contents of the Financial Statements
for the year ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sonix Developments Limited

Company Information
for the year ended 31 August 2024







DIRECTORS: A C Cotterell
D R L Jones





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 09659213 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

Sonix Developments Limited (Registered number: 09659213)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 196 1,923
Investments 5 100 100
Investment property 6 1,990,000 3,245,000
1,990,296 3,247,023

CURRENT ASSETS
Debtors 7 139,860 116,875
Cash at bank 35,633 51,389
175,493 168,264
CREDITORS
Amounts falling due within one year 8 1,556,292 2,825,675
NET CURRENT LIABILITIES (1,380,799 ) (2,657,411 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

609,497

589,612

CREDITORS
Amounts falling due after more than one
year

9

(11,787

)

(20,894

)

PROVISIONS FOR LIABILITIES 10 (37 ) (2,438 )
NET ASSETS 597,673 566,280

CAPITAL AND RESERVES
Called up share capital 100 100
Undistributable reserves 11 - 54,019
Retained earnings 597,573 512,161
SHAREHOLDERS' FUNDS 597,673 566,280

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.

Sonix Developments Limited (Registered number: 09659213)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by:




A C Cotterell - Director



D R L Jones - Director


Sonix Developments Limited (Registered number: 09659213)

Notes to the Financial Statements
for the year ended 31 August 2024


1. STATUTORY INFORMATION

Sonix Developments 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 as modified by the revaluation of certain assets.

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.
Fixtures, fittings, equipment - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Undistributable reserves
Whilst fair value gains on investment property are taken to the profit and loss account, they are not distributable as dividend to shareholders because the gain is unrealised. The company therefore adopts the policy of transferring the fair value adjustment net/inclusive of the deferred tax charge/credit to a separate account, 'undistributable reserves'.

3. EMPLOYEES AND DIRECTORS

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

Sonix Developments Limited (Registered number: 09659213)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


4. TANGIBLE FIXED ASSETS
Fixtures,
fittings, Computer
equipment equipment Totals
£    £    £   
COST
At 1 September 2023 5,181 864 6,045
Disposals (5,181 ) - (5,181 )
At 31 August 2024 - 864 864
DEPRECIATION
At 1 September 2023 3,520 602 4,122
Charge for year 249 66 315
Eliminated on disposal (3,769 ) - (3,769 )
At 31 August 2024 - 668 668
NET BOOK VALUE
At 31 August 2024 - 196 196
At 31 August 2023 1,661 262 1,923

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2023
and 31 August 2024 100
NET BOOK VALUE
At 31 August 2024 100
At 31 August 2023 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 3,245,000
Additions 74,262
Disposals (1,325,000 )
Revaluation in year (4,262 )
At 31 August 2024 1,990,000
NET BOOK VALUE
At 31 August 2024 1,990,000
At 31 August 2023 3,245,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2024 (45,607 )
Cost 2,035,607
1,990,000

Sonix Developments Limited (Registered number: 09659213)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,035,607 3,188,908

Investment property was valued on a fair value basis on 31 August 2024 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 139,093 113,125
Prepayments and accrued income 767 3,750
139,860 116,875

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,000 9,000
Trade creditors 4,112 3,492
UK corporation tax 22,728 11,578
Tax and social security costs - 313
Directors' current accounts 1,516,388 2,796,403
Accruals and deferred income 4,064 4,889
1,556,292 2,825,675

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,787 20,894

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 37 365
Capital gains on investment property - 2,073
37 2,438

Deferred
tax
£   
Balance at 1 September 2023 2,438
Credit to Income Statement during year (2,401 )
Balance at 31 August 2024 37

Sonix Developments Limited (Registered number: 09659213)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


11. RESERVES
Undistributable
reserves
£   
At 1 September 2023 54,019
Transfer realised gain/loss to retained
earnings

(54,019

)


At 31 August 2024 -

Undistributable reserves represent the unrealised gains on carrying investment property at fair value less the deferred tax provision thereon; being unrealised, such amounts are not available to be distributed as dividend to shareholders.