Company registration number: 10765444
Unaudited financial statements
for the year ended 31 May 2024
for
Soanua Limited
Pages for filing with the Registrar
Company registration number: 10765444
Soanua Limited
Balance sheet
as at 31 May 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 4 46,922 34,409
Tangible assets 5 20,708 21,115
67,630 55,524
Current assets
Stocks 1,483,999 1,707,744
Debtors 49,055 66,460
Cash at bank and in hand 307,234 93,118
1,840,288 1,867,322
Creditors: amounts falling due within one
year
(1,041,258) (1,117,115)
Net current assets 799,030 750,207
Total assets less current liabilities 866,660 805,731
Creditors: Amounts falling due after more
than one year
6 (21,594) (141,567)
NET ASSETS 845,066 664,164
Capital and reserves
Called up share capital 23 20
Share premium account 3,921,361 2,840,166
Profit and loss account (3,076,318) (2,176,022)
TOTAL EQUITY 845,066 664,164
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 May 2024.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 10765444
Soanua Limited
Balance sheet - continued
as at 31 May 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 28 May 2025 and signed on its behalf by:
Mr J Coleman, Director
28 May 2025
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Soanua Limited
Notes to the financial statements
for the year ended 31 May 2024
1 Company information
Soanua Limited is a private company registered in England and Wales. Its registered number is 10765444. The company is limited by shares. Its registered office is 2-4 Exmoor Street (Unit 23), London, W10 6BD.
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 historic cost convention.
Presentation currency
The company's financial statements are presented in sterling.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Development costs - 33.33% straight line
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Computer equipment - 33.33% straight line
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Soanua Limited
Notes to the financial statements - continued
for the year ended 31 May 2024
2 Accounting policies - continued
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Work in progress is valued at the lower of cost and net realisable value. Cost is calculated using the first -in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 12 (2023 - 10).
4 Intangible assets
Other
intangible
assets
£
Cost
At 1 June 2023 34,409
Additions 29,743
At 31 May 2024 64,152
Amortisation
Charge for year 17,230
At 31 May 2024 17,230
Net book value
At 31 May 2024 46,922
At 31 May 2023 34,409
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Soanua Limited
Notes to the financial statements - continued
for the year ended 31 May 2024
5 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 June 2023 27,748
Additions 7,732
At 31 May 2024 35,480
Depreciation
At 1 June 2023 6,633
Charge for year 8,139
At 31 May 2024 14,772
Net book value
At 31 May 2024 20,708
At 31 May 2023 21,115
6 Creditors: amounts falling due after more than five years
2024 2023
£ £
Repayable otherwise than by instalments
Other creditors - 110,000
7 Advances, credit and guarantees granted to directors
The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023.
2024 2023
£ £
Balance outstanding at start of year 4,062 7,358
Amounts repaid - (3,296)
Balance outstanding at end of year 4,062 4,062
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