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REGISTERED NUMBER: 06758275 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Sorbys Limited

Sorbys Limited (Registered number: 06758275)

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










Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


Sorbys Limited

Company Information
for the year ended 31 December 2024







Director: G J Sorby





Secretary: Mrs N Sorby





Registered office: Glencoe
Main Road
Marsh Lane
Sheffield
Derbyshire
S21 5RH





Registered number: 06758275 (England and Wales)

Sorbys Limited (Registered number: 06758275)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
Fixed assets
Intangible assets 4 29,992 29,992
Tangible assets 5 40,510 36,529
70,502 66,521

Current assets
Debtors 6 33,121 24,123
Cash at bank 191,159 164,472
224,280 188,595
Creditors
Amounts falling due within one year 7 35,115 36,935
Net current assets 189,165 151,660
Total assets less current liabilities 259,667 218,181

Provisions for liabilities 10,009 -
Net assets 249,658 218,181

Capital and reserves
Called up share capital 2 2
Retained earnings 249,656 218,179
Shareholders' funds 249,658 218,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 23 May 2025 and were signed by:





G J Sorby - Director


Sorbys Limited (Registered number: 06758275)

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


1. STATUTORY INFORMATION

Sorbys 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
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Cryptocurrency is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

Sorbys Limited (Registered number: 06758275)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
Cost
At 1 January 2024
and 31 December 2024 29,992
Net book value
At 31 December 2024 29,992
At 31 December 2023 29,992

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 January 2024 94,974
Additions 17,111
At 31 December 2024 112,085
Depreciation
At 1 January 2024 58,445
Charge for year 13,130
At 31 December 2024 71,575
Net book value
At 31 December 2024 40,510
At 31 December 2023 36,529

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 276 4,890
Other debtors 32,845 19,233
33,121 24,123

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,829 -
Taxation and social security 26,669 35,985
Other creditors 6,617 950
35,115 36,935

8. ULTIMATE CONTROLLING PARTY

The controlling party is G J Sorby.