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REGISTERED NUMBER: 08674904 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 October 2024

for

SOS Wholesale Limited

SOS Wholesale Limited (Registered number: 08674904)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Statement of Income and Retained Earnings 10

Balance Sheet 11

Notes to the Financial Statements 12


SOS Wholesale Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Ms I Dubylovska
S Rizvi
Ms V J Patara



REGISTERED OFFICE: SOS Wholesale Limited
Stores Road
Derby
DE21 4BD



REGISTERED NUMBER: 08674904 (England and Wales)



SENIOR STATUTORY AUDITOR: Susanna D Ault FCCA ACA



AUDITORS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

SOS Wholesale Limited (Registered number: 08674904)

Strategic Report
for the Year Ended 31 October 2024

The directors present their strategic report for the year ended 31 October 2024.

REVIEW OF BUSINESS
The year-on-year decline in turnover reflects a strategic decision by management to adopt a more cautious and disciplined trading approach in response to increased credit risk across the market.

We took a firm stance on only supplying to customers where agreed credit terms were being met consistently.

Where there was evidence of deteriorating payment practices or where customers were unable to adhere to agreed terms, we required proforma (upfront) payment as a condition of supply. In several cases, this resulted in reduced sales volumes, bur it was a necessary step to protect the business from bad debt exposure and maintain a balanced cash flow. The business did not incur any bad debts during financial year 2024.

Despite the reduced turnover, the gross profit margin has remained stable, demonstrating the business's ability to preserve profitability through improved customer selection, tighter controls, and more focused commercial decision-making.

This approach aligns with our long-term strategy of sustainable and risk-aware growth, ensuring the business remains financially resilient and well-positioned to capitalise on new opportunities as market conditions improve.

We have made a conscious effort in reducing operating costs by reviewing activities in each department and streamlining operations/reducing costs.

BUSINESS MODEL AND STRATEGY
SOS Wholesale is a discount delivered wholesaler of groceries, soft drinks, cakes, biscuits, confectionery, pet food, household, toiletries, wine & more. The company has customers throughout the UK and Ireland and exports to over 25 countries.

The company has a 70,000 square foot warehouse in Derby and a sales teams based in Barnsley, North Yorkshire.

The strategy of the business is to deliver the best value for its customers whilst seeking out new brands and new opportunities for growth in the UK and abroad.

FINANCIAL KEY PERFORMANCE INDICATORS
The Company's key performance indicators are as follows:
31/10/24 31/10/23
£ £
Turnover 42,741,954 49,561,834
Gross Profit 4,678,233 6,105,626
Gross Profit % 10.95% 12.32%
Operating Profit 1,568,455 2,159,162

The net assets of the Company are £9.42m (2023: £8.66m) at the balance sheet date, reflecting its solid position from a solvency and liquidity point of view.

OTHER KEY PERFORMANCE INDICATORS
The Company's other key performance indicators include customer satisfaction reviews, client retention, warehouse pick accuracy and on-time delivery statistics.


SOS Wholesale Limited (Registered number: 08674904)

Strategic Report
for the Year Ended 31 October 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and the nature of the company's strategy are subject to a number of risks. The Directors have set out below the principal risks facing the business.

The Directors are of the opinion that a thorough risk management process is adopted which involves a formal review of all risks identified below. Where possible, processes are in place to mitigate such risks.

Liquidity and lending risk
The very strong trading results and positive operating cashflows in the year have resulted in all debt covenants being met and repayments being made on time. The Directors are also mindful of the impact that a downturn in trade or the loss of key customers may have and so closely monitor the working capital cycle and focus on good cash collection from customers in order to maintain healthy cash balances. They also regularly monitor covenant compliance and produce cash flow forecasts to further help mitigate this risk.

Economic downturn
The success of the business is reliant on Retailer & Consumer spending.

In response to this risk, senior management aim to keep abreast of economic conditions. In cases of severe economic downturn, marketing and pricing strategies will be modified to reflect the new market conditions.

Inflation and the cost of living crisis
Global inflationary pressures that have arisen following the outbreak of the war in Ukraine continue to represent the largest risk to the business. These pressures are seen most clearly in relation to:

Produce cost inflation
The Company assesses the risks that cost inflation may bring with the aim to mitigate future threats this may have on the business, through strategies such as cost reduction plans, changing product mix and price increases.

Wage cost inflation
The Company is affected by wage cost inflation and pressures within the labour market. The Company monitors the market to ensure compliance with labour market regulations, and maintains employment policies, remuneration and benefits packages that are designed to be competitive with other companies, as well as providing employees with fulfilling career opportunities.

Competition
The market in which the Company operates is highly competitive. As a result, the Company is subject to a high level of price sensitivities in its consumer-led market. Policies of assessing our pricing strategy and ongoing market research are in place to mitigate such risks.

Interest rate risk
Considering the debt profile of the Company, increases in interest rates presents a risk. The continued policy of securing fixed rate interest debt helps mitigate this risk.

Brexit
The areas where Brexit has impacted our business include the access and cost of both labour & other products such as Groceries, Household, Confectionery etc, and we continue to work with our business partners to mitigate this.

With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen future events outside of our control. Hence, we are constantly assessing our plans in line with the current environment.


SOS Wholesale Limited (Registered number: 08674904)

Strategic Report
for the Year Ended 31 October 2024

SECTION 172(1) STATEMENT
The Directors of the Company, and those of all UK companies, must act in accordance with a set of general duties. These duties are set out in section 172 of the Companies Act 2006 which are summarised as follows:

"A Director of Company must act in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its shareholders as a whole, and in doing so have regard (amongst other matters) to:
a. the likely consequences of any decisions in the long term;
b. the interests of the company's employees;
c. the need to foster the company's business relationships with suppliers, customers and others;
d. the impact of the company's operations on the community and the environment;
e. the desirability of the company maintaining a reputation for high standards of business conduct; and
f. the need to act fairly as between the shareholders of the company."

The following paragraphs summaries how the Directors fulfilled their duties:

Risk Management
As we develop as a business so does the risk environment in which we operate become more complex. It is therefore vital that we effectively identify, evaluate, manage and mitigate risks that the business may encounter. We are continually evolving our approach to risk management. Details of the risks encountered by the business and the steps taken to mitigate these risks are detailed on page 3.

Our people
Our people are fundamental to the delivery and success of our operations. We aim to be a responsible employer in our approach to pay and benefits received by our employees. The health, safety and wellbeing of our people are also a major concern for the business and we try to ensure we managed and monitor these as closely as possible. For our business to succeed we need to manage our people's performance, develop and bring through talent while ensuring we operate as efficiently and as effectively as possible. For further details on our people see page 5.

Business Relationships
In order to grow and develop our business we need to grow and develop our business relationships with our suppliers and strategic partners. This includes working with these partners so that we can deliver for the customers and communities we serve.

Community and Environment
It is important to the business that we interact responsibly with the communities in which it operates and the wider environment. We try to ensure we are as involved as much as possible in the local activities and work closely with local bodies to ensure that the community is best served. We try where possible to minimise our impact on the environment.

High Standards of Business Conduct
It is important to the business that we apply high standards of conduct in all areas in which we operate. This principle is closely monitored by the board and wider management team making sure the business behaves in a responsible manner in all activities it undertakes.

Shareholders
The directors and various senior management team act to maximize profit and cash flow in order to create shareholder value.

ON BEHALF OF THE BOARD:





S Rizvi - Director


4 June 2025

SOS Wholesale Limited (Registered number: 08674904)

Report of the Directors
for the Year Ended 31 October 2024

The directors present their report with the financial statements of the company for the year ended 31 October 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31 October 2024.

FUTURE DEVELOPMENTS
The directors are confident that continued focus on the key management policies will strengthen the financial position of the company during the ensuing period.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2023 to the date of this report.

Ms I Dubylovska
S Rizvi
Ms V J Patara

ENGAGEMENT WITH EMPLOYEES
The Company does not discriminate between employees or potential employees on grounds of colour, race, ethnic or national origin, sex, disability, age, marital status or religious beliefs. Full consideration is given to applications for employment from disabled persons who are able to demonstrate that they have the necessary abilities.

The importance of staff training, equal opportunity, health and safety, environmental matters and the avoidance of sexual harassment is recognised at all levels and is monitored on a regular basis by committees chaired by a director or senior manager reporting directly to the Board.

The Company gives full and fair consideration to applications for employment by disabled persons. In the event of employees becoming disabled whilst in service of the company, every effort is made to continue their employment by transfer to alternative duties, if required and by provision of such retraining as is appropriate.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
We have long-term partnerships with many of our suppliers. Such long-term partnerships encourage collaboration and enable suppliers to make decisions for the long term, giving them the confidence to invest in their businesses. In order to meet our continued volume growth, suppliers need to invest in future capacity, which involves significant capital investment in equipment and infrastructure. Long-term commitment to supply our company in the UK, has enabled our suppliers to grow with us and drive positive change within their own businesses. The wider supply chain that the company is part of has a broad remit, from ensuring our products meet our safety & quality expectations from manufacturers.

Our customers are at the heart of everything we do. We acknowledge the importance of keeping our customers engaged with our business.

The company recognises its responsibility t the wider community in which its offices and warehouse is based. We actively take part in community events and work with local representative bodies that help promote the areas in which we operate.

STREAMLINED ENERGY AND CARBON REPORTING
The company has taken exemption from reporting under the SECR regime as its obligations are already met through its parent company's group level report.

DISCLOSURE IN THE STRATEGIC REPORT
The Company has chosen to make disclosures in relation to financial risk management and other matters considered to be of strategic importance which would otherwise be in the Directors report within the Strategic Report.


SOS Wholesale Limited (Registered number: 08674904)

Report of the Directors
for the Year Ended 31 October 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Tomkinson Teal (Lichfield) LLP were appointed for the current year and will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S Rizvi - Director


4 June 2025

Report of the Independent Auditors to the Members of
SOS Wholesale Limited

Opinion
We have audited the financial statements of SOS Wholesale Limited (the 'company') for the year ended 31 October 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 October 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
SOS Wholesale Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the directors and other management. We discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.
We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
SOS Wholesale Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Susanna D Ault FCCA ACA (Senior Statutory Auditor)
for and on behalf of Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

4 June 2025

SOS Wholesale Limited (Registered number: 08674904)

Statement of Income and
Retained Earnings
for the Year Ended 31 October 2024

2024 2023
Notes £    £   

TURNOVER 4 42,741,954 49,561,834

Cost of sales (38,063,721 ) (43,456,208 )
GROSS PROFIT 4,678,233 6,105,626

Administrative expenses (3,109,778 ) (3,946,464 )
OPERATING PROFIT 6 1,568,455 2,159,162

Interest receivable and similar income 10,013 10,555
1,578,468 2,169,717

Interest payable and similar expenses 7 (567,976 ) (642,332 )
PROFIT BEFORE TAXATION 1,010,492 1,527,385

Tax on profit 8 (254,292 ) (408,234 )
PROFIT FOR THE FINANCIAL YEAR 756,200 1,119,151

Retained earnings at beginning of year 7,913,678 6,794,527

RETAINED EARNINGS AT END OF
YEAR

8,669,878

7,913,678

SOS Wholesale Limited (Registered number: 08674904)

Balance Sheet
31 October 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 359,720 407,491
Investments 11 20,783 20,783
380,503 428,274

CURRENT ASSETS
Stocks 12 2,289,389 3,635,354
Debtors 13 16,325,697 17,196,459
Cash at bank and in hand 1,861,924 1,779,435
20,477,010 22,611,248
CREDITORS
Amounts falling due within one year 14 (9,605,721 ) (11,127,368 )
NET CURRENT ASSETS 10,871,289 11,483,880
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,251,792

11,912,154

CREDITORS
Amounts falling due after more than one
year

15

(1,765,997

)

(3,175,307

)

PROVISIONS FOR LIABILITIES 19 (65,817 ) (73,069 )
NET ASSETS 9,419,978 8,663,778

CAPITAL AND RESERVES
Called up share capital 20 100 100
Capital redemption reserve 21 750,000 750,000
Retained earnings 21 8,669,878 7,913,678
SHAREHOLDERS' FUNDS 9,419,978 8,663,778

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2025 and were signed on its behalf by:





S Rizvi - Director


SOS Wholesale Limited (Registered number: 08674904)

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

1. STATUTORY INFORMATION

SOS Wholesale 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. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirement of paragraph 33.7.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill arising on the original incorporation of the business has been amortised over its expected useful life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making allowance for impairment of obsolete or slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised.

Cost is determined on an average cost basis. Cost includes the purchase price, including taxes and duties, transport and all other costs directly attributable to bringing the stock to its present location and condition.

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.


SOS Wholesale Limited (Registered number: 08674904)

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

3. ACCOUNTING POLICIES - continued
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.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 36,706,759 42,910,168
Europe 1,092,006 1,014,893
Rest of World 4,943,189 5,636,773
42,741,954 49,561,834

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,442,440 3,545,120
Social security costs 321,009 312,420
Other pension costs 81,888 221,000
3,845,337 4,078,540

The average number of employees during the year was as follows:
2024 2023

Sales, admin and management 44 52
Distribution and warehouse 73 94
117 146

2024 2023
£    £   
Directors' remuneration 150,000 145,699

SOS Wholesale Limited (Registered number: 08674904)

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

5. EMPLOYEES AND DIRECTORS - continued

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 66,882 73,578
Loss/(profit) on disposal of fixed assets 1,850 (95 )
Goodwill amortisation - 150,000
Auditors' remuneration 38,500 24,950

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 256,603 346,373
Other interest 311,373 295,959
567,976 642,332

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 261,544 364,924

Deferred tax (7,252 ) 43,310
Tax on profit 254,292 408,234

SOS Wholesale Limited (Registered number: 08674904)

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

8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,010,492 1,527,385
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 22.518%)

252,623

343,937

Effects of:
Expenses not deductible for tax purposes (558 ) 1,113
Income not taxable for tax purposes - (18 )
Depreciation in excess of capital allowances 9,479 19,892
Deferred tax (7,252 ) 43,310
Total tax charge 254,292 408,234

9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 1,500,000
AMORTISATION
At 1 November 2023
and 31 October 2024 1,500,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

SOS Wholesale Limited (Registered number: 08674904)

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

10. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2023 89,841 493,068 145,952 728,861
Additions - 23,786 - 23,786
Disposals - (75 ) (21,190 ) (21,265 )
At 31 October 2024 89,841 516,779 124,762 731,382
DEPRECIATION
At 1 November 2023 29,913 239,436 52,021 321,370
Charge for year 8,984 39,594 18,304 66,882
Eliminated on disposal - - (16,590 ) (16,590 )
At 31 October 2024 38,897 279,030 53,735 371,662
NET BOOK VALUE
At 31 October 2024 50,944 237,749 71,027 359,720
At 31 October 2023 59,928 253,632 93,931 407,491

11. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST
At 1 November 2023
and 31 October 2024 20,783
NET BOOK VALUE
At 31 October 2024 20,783
At 31 October 2023 20,783

12. STOCKS
2024 2023
£    £   
Stocks 2,289,389 3,635,354

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,153,218 3,221,778
Amounts owed by group undertakings 3,305,318 3,404,743
Amounts owed by associates 9,303,089 10,173,089
Other debtors 414,583 181,396
VAT - 86,070
Prepayments 149,489 129,383
16,325,697 17,196,459

SOS Wholesale Limited (Registered number: 08674904)

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

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 16) 1,409,311 1,319,735
Other loans (see note 16) 2,288,391 2,235,952
Trade creditors 5,110,035 6,637,445
Tax 481,849 358,713
Social security and other taxes 69,374 87,387
VAT 27,141 -
Other creditors 53,638 54,529
Accrued expenses 165,982 433,607
9,605,721 11,127,368

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 16) 1,765,997 3,175,307

16. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 1,409,311 1,319,735
Other loans 2,288,391 2,235,952
3,697,702 3,555,687

Amounts falling due between one and two years:
Bank loans - 1-2 years 1,504,967 1,409,311

Amounts falling due between two and five years:
Bank loans - 2-5 years 261,030 1,765,996

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 589,281 297,132
Between one and five years 1,151,371 604,409
1,740,652 901,541

SOS Wholesale Limited (Registered number: 08674904)

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

18. SECURED DEBTS

The loan from Hitachi Capital (UK) Plc is secured by a debenture dated 17.12.21 over all property of the company.

There is a fixed charge by Mr M and Mr S Beckett dated 17.12.21 over all property of the company.

19. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 65,817 73,069

Deferred
tax
£   
Balance at 1 November 2023 73,069
Provided during year (7,252 )
Balance at 31 October 2024 65,817

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

21. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 November 2023 7,913,678 750,000 8,663,678
Profit for the year 756,200 - 756,200
At 31 October 2024 8,669,878 750,000 9,419,878

22. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. the pension cost charge for the year represents contributions payable to the scheme amounted to £101,389 (2023: £239,941).

Contributions totalling £12,281 (2023: £14,642) were payable to the scheme at the balance sheet date and are included within other creditors.

23. ULTIMATE PARENT COMPANY

SOS Wholesale Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The companies share the same registered office address.

24. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Rizvi.