Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-302024-01-01truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity94100truefalse 10327719 2024-01-01 2024-12-31 10327719 2023-01-01 2023-12-31 10327719 2024-12-31 10327719 2023-12-31 10327719 c:Director2 2024-01-01 2024-12-31 10327719 d:Buildings d:ShortLeaseholdAssets 2024-01-01 2024-12-31 10327719 d:Buildings d:ShortLeaseholdAssets 2024-12-31 10327719 d:Buildings d:ShortLeaseholdAssets 2023-12-31 10327719 d:PlantMachinery 2024-01-01 2024-12-31 10327719 d:PlantMachinery 2024-12-31 10327719 d:PlantMachinery 2023-12-31 10327719 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10327719 d:FurnitureFittings 2024-01-01 2024-12-31 10327719 d:FurnitureFittings 2024-12-31 10327719 d:FurnitureFittings 2023-12-31 10327719 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10327719 d:OfficeEquipment 2024-01-01 2024-12-31 10327719 d:OfficeEquipment 2024-12-31 10327719 d:OfficeEquipment 2023-12-31 10327719 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10327719 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 10327719 d:OtherPropertyPlantEquipment 2024-12-31 10327719 d:OtherPropertyPlantEquipment 2023-12-31 10327719 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10327719 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10327719 d:ComputerSoftware 2024-12-31 10327719 d:ComputerSoftware 2023-12-31 10327719 d:CurrentFinancialInstruments 2024-12-31 10327719 d:CurrentFinancialInstruments 2023-12-31 10327719 d:Non-currentFinancialInstruments 2024-12-31 10327719 d:Non-currentFinancialInstruments 2023-12-31 10327719 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 10327719 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10327719 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 10327719 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10327719 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 10327719 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 10327719 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-12-31 10327719 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 10327719 d:ShareCapital 2024-12-31 10327719 d:ShareCapital 2023-12-31 10327719 d:RetainedEarningsAccumulatedLosses 2024-12-31 10327719 d:RetainedEarningsAccumulatedLosses 2023-12-31 10327719 c:FRS102 2024-01-01 2024-12-31 10327719 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10327719 c:FullAccounts 2024-01-01 2024-12-31 10327719 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10327719 d:WithinOneYear 2024-12-31 10327719 d:WithinOneYear 2023-12-31 10327719 d:BetweenOneFiveYears 2024-12-31 10327719 d:BetweenOneFiveYears 2023-12-31 10327719 d:MoreThanFiveYears 2024-12-31 10327719 d:MoreThanFiveYears 2023-12-31 10327719 2 2024-01-01 2024-12-31 10327719 4 2024-01-01 2024-12-31 10327719 7 2024-01-01 2024-12-31 10327719 d:ComputerSoftware d:OwnedIntangibleAssets 2024-01-01 2024-12-31 10327719 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 10327719










SOPHIE'S SOHO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SOPHIE'S SOHO LIMITED
REGISTERED NUMBER: 10327719

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
12,085
14,727

Tangible fixed assets
  
1,626,983
1,942,299

  
1,639,068
1,957,026

Current assets
  

Stocks
 6 
104,262
75,084

Debtors: amounts falling due within one year
 7 
509,901
686,441

Bank and cash balances
  
1,284,043
1,338,349

  
1,898,206
2,099,874

Creditors: amounts falling due within one year
 8 
(5,848,726)
(6,487,281)

Net current liabilities
  
 
 
(3,950,520)
 
 
(4,387,407)

Total assets less current liabilities
  
(2,311,452)
(2,430,381)

Creditors: amounts falling due after more than one year
 9 
(1,617,574)
(1,755,167)

Net liabilities
  
(3,929,026)
(4,185,548)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(3,929,028)
(4,185,550)

  
(3,929,026)
(4,185,548)


Page 1

 
SOPHIE'S SOHO LIMITED
REGISTERED NUMBER: 10327719
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr R Power
Director

Date: 30 May 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
SOPHIE'S SOHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Sophie's Soho Limited is a private limited company limited by shares incorporated in England. The Registered Office is 42-44 Great Windmill Street, London, W1D 7NB. The entity operates in the restaurant sector.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

On reviewing the financial statements & cash flow for the business, the directors are satisfied that the company has the necessary profitability, working capital & funding capacity to continue operations for at least 12 months from the date of these approved financial statements.  They are therefore prepared on a going concern basis.  
 
As a small independent business, we are able to move quickly to counter the backdrop of rising cost lines & as directors we remain focussed on maximising efficiencies to deliver all available cost savings.   We continue to make capital investments within the restaurants to broaden our customer base & improve sales in a challenging market.  As directors we remain optimistic about the future of our business.  

 
2.3

Revenue

Revenue represents amounts receivable from the sale of goods net of value added tax and discounts. 
Revenue is recognised at the point of sale to a customer. 

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
SOPHIE'S SOHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
SOPHIE'S SOHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Leasehold property
-
over the life of the lease
Plant and machinery
-
7
years
Fixtures and fittings
-
7
years
Office equipment
-
6
years
Crockery
-
3
years with 100% residual value

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
SOPHIE'S SOHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

 
2.18

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 94 (2023 - 100).

Page 6

 
SOPHIE'S SOHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Computer software

£



Cost


At 1 January 2024
24,450



At 31 December 2024

24,450



Amortisation


At 1 January 2024
9,723


Charge for the year on owned assets
2,643



At 31 December 2024

12,366



Net book value



At 31 December 2024
12,084



At 31 December 2023
14,727



Page 7

 
SOPHIE'S SOHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Crockery
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2024
4,242,890
550,631
1,659,433
64,419
20,616
6,537,989


Additions
14,280
18,280
20,430
2,450
-
55,440



At 31 December 2024

4,257,170
568,911
1,679,863
66,869
20,616
6,593,429



Depreciation


At 1 January 2024
2,740,421
445,099
1,347,574
62,596
-
4,595,690


Charge for the year on owned assets
73,753
74,893
221,194
916
-
370,756



At 31 December 2024

2,814,174
519,992
1,568,768
63,512
-
4,966,446



Net book value



At 31 December 2024
1,442,996
48,919
111,095
3,357
20,616
1,626,983



At 31 December 2023
1,502,469
105,532
311,859
1,823
20,616
1,942,299

Page 8

 
SOPHIE'S SOHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
104,262
75,084



7.


Debtors

2024
2023
£
£


Trade debtors
26
26

Other debtors
-
26,687

Prepayments and accrued income
190,771
186,236

Deferred taxation
319,104
473,492

509,901
686,441



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
226
-

Other loans
278,578
195,017

Trade creditors
351,237
323,488

Amounts owed to group undertakings
4,366,152
5,071,848

Other taxation and social security
318,336
262,772

Other creditors
164,138
245,293

Accruals and deferred income
370,059
388,863

5,848,726
6,487,281



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
1,617,574
1,755,167


Page 9

 
SOPHIE'S SOHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
278,578
195,017


278,578
195,017


Amounts falling due 2-5 years

Other loans
540,237
540,237


540,237
540,237

Amounts falling due after more than 5 years

Other loans
1,077,337
1,214,930

1,077,337
1,214,930

1,896,152
1,950,184


The above loan has a fixed interest rate of 5% per annum and is over a 10 year term. No interest or capital repayments were made prior to July 2024. From July 2024, capital repayments and interest have been paid on a monthly basis.


11.


Pension commitments

The group company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £19,405 (2023: £19,340). Contributions totalling £4,647 (2023: £4,411) were payable to the fund at the reporting date.


12.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
620,000
620,000

Later than 1 year and not later than 5 years
2,480,000
2,480,000

Later than 5 years
8,938,333
9,920,000

12,038,333
13,020,000

Page 10

 
SOPHIE'S SOHO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Related party transactions

At the balance sheet date the company owed £4,259,153 (2023: £5,071,848) to a group company Ruso Ltd. This balance is non interest bearing.
At the balance sheet date the company owed the two Directors a total of £95,347 (2023: £190,345). These loans are interest free.


14.


Controlling party

The immediate parent company is Newincco 1389 Limited, a company incorporated in England and Wales. 
The ultimate controlling party is Mr R Power.

Page 11