Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30truetrue102023-10-01falseis that of wholesale and retail sales via online trading sites.7The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05225723 2023-10-01 2024-09-30 05225723 2022-10-01 2023-09-30 05225723 2024-09-30 05225723 2023-09-30 05225723 c:Director1 2023-10-01 2024-09-30 05225723 d:Buildings 2023-10-01 2024-09-30 05225723 d:Buildings 2024-09-30 05225723 d:Buildings 2023-09-30 05225723 d:Buildings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05225723 d:PlantMachinery 2023-10-01 2024-09-30 05225723 d:PlantMachinery 2024-09-30 05225723 d:PlantMachinery 2023-09-30 05225723 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05225723 d:MotorVehicles 2023-10-01 2024-09-30 05225723 d:MotorVehicles 2024-09-30 05225723 d:MotorVehicles 2023-09-30 05225723 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05225723 d:FurnitureFittings 2023-10-01 2024-09-30 05225723 d:FurnitureFittings 2024-09-30 05225723 d:FurnitureFittings 2023-09-30 05225723 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05225723 d:OfficeEquipment 2023-10-01 2024-09-30 05225723 d:OfficeEquipment 2024-09-30 05225723 d:OfficeEquipment 2023-09-30 05225723 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05225723 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05225723 d:PatentsTrademarksLicencesConcessionsSimilar 2024-09-30 05225723 d:PatentsTrademarksLicencesConcessionsSimilar 2023-09-30 05225723 d:CurrentFinancialInstruments 2024-09-30 05225723 d:CurrentFinancialInstruments 2023-09-30 05225723 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 05225723 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 05225723 d:ShareCapital 2024-09-30 05225723 d:ShareCapital 2023-09-30 05225723 d:RetainedEarningsAccumulatedLosses 2024-09-30 05225723 d:RetainedEarningsAccumulatedLosses 2023-09-30 05225723 c:OrdinaryShareClass1 2023-10-01 2024-09-30 05225723 c:OrdinaryShareClass1 2024-09-30 05225723 c:OrdinaryShareClass2 2023-10-01 2024-09-30 05225723 c:OrdinaryShareClass2 2024-09-30 05225723 c:FRS102 2023-10-01 2024-09-30 05225723 c:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 05225723 c:FullAccounts 2023-10-01 2024-09-30 05225723 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05225723 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-10-01 2024-09-30 05225723 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-10-01 2023-09-30 05225723 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-09-30 05225723 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-09-30 05225723 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-10-01 2024-09-30 05225723 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05225723










SOURCING4U LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
SOURCING4U LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 11


 
SOURCING4U LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOURCING4U LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sourcing4U Limited for the year ended 30 September 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Sourcing4U Limited, as a body, in accordance with the terms of our engagement letter dated 28 February 2024Our work has been undertaken solely to prepare for your approval the financial statements of Sourcing4U Limited and state those matters that we have agreed to state to the Board of directors of Sourcing4U Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sourcing4U Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Sourcing4U Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sourcing4U Limited. You consider that Sourcing4U Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Sourcing4U Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
5 June 2025
Page 1

 
SOURCING4U LIMITED
REGISTERED NUMBER: 05225723

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
£
£

Fixed assets
  

Intangible assets
 4 
671
1,404

Tangible assets
 5 
103,650
80,419

  
104,321
81,823

Current assets
  

Stocks
  
746,260
581,904

Debtors: amounts falling due within one year
 6 
37,834
49,276

Cash at bank and in hand
  
164,644
337,886

  
948,738
969,066

Creditors: amounts falling due within one year
 7 
(383,299)
(194,455)

Net current assets
  
 
 
565,439
 
 
774,611

Total assets less current liabilities
  
669,760
856,434

Provisions for liabilities
  

Deferred tax
  
(21,689)
(11,869)

  
 
 
(21,689)
 
 
(11,869)

Net assets
  
648,071
844,565


Capital and reserves
  

Called up share capital 
 8 
200
200

Profit and loss account
  
647,871
844,365

  
648,071
844,565


Page 2

 
SOURCING4U LIMITED
REGISTERED NUMBER: 05225723
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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 income and retained earnings 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 J Masters
Director

Date: 5 June 2025

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
SOURCING4U LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

The Company is a private company incorporated in the United Kingdom and limited by shares. It is registered in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. The principal place of business is East Harling, Norfolk.
The company's principal activity is that of wholesale and retail sales via online trading sites.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Turnover

Turnover comprises revenue recognised by the company in respect of wholesale and retail sales via online trading sites. Turnover is exclusive of value added tax and is recognised on an accruals basis. 
Turnover is recognised to the extent that it is probable that economic benefits will flow to the company and the turnover can be reliably measured. 

 
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.

 
2.5

Pensions

The company operates a defined contribution plan for the benefits of its employees. Contributions are expensed as they become payable.

Page 4

 
SOURCING4U LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.

Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

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. The company's trademark has a useful economic life of ten years and has been amortised over this period.

 
2.8

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.


Improvements to property
-
20%
straight line basis
Plant and machinery
-
25%
reducing balance basis
Motor vehicles
-
25%
reducing balance basis
Fixtures and fittings
-
25%
reducing balance basis
Office equipment
-
33%
straight line basis

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.

 
2.9

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost includes all costs of purchase and other costs incurred in bringing stock to its present location and condition.

Page 5

 
SOURCING4U LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

Financial instruments


The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measued, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. 


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 7).

Page 6

 
SOURCING4U LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Intangible assets




Trademarks and licences

£



Cost


At 1 October 2023
7,326



At 30 September 2024

7,326



Amortisation


At 1 October 2023
5,922


Charge for the year on owned assets
733



At 30 September 2024

6,655



Net book value



At 30 September 2024
671



At 30 September 2023
1,404



Page 7

 
SOURCING4U LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Improveme nts to property
Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 October 2023
30,383
12,825
118,803
7,815
33,822


Additions
3,738
22,387
44,495
278
8,262


Disposals
-
-
(22,499)
(828)
(2,801)



At 30 September 2024

34,121
35,212
140,799
7,265
39,283



Depreciation


At 1 October 2023
22,456
11,470
52,708
5,397
31,198


Charge for the year on owned assets
4,286
5,935
23,429
659
4,684


Disposals
-
-
(5,625)
(766)
(2,801)



At 30 September 2024

26,742
17,405
70,512
5,290
33,081



Net book value



At 30 September 2024
7,379
17,807
70,287
1,975
6,202



At 30 September 2023
7,927
1,355
66,095
2,418
2,624
Page 8

 
SOURCING4U LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 October 2023
203,648


Additions
79,160


Disposals
(26,128)



At 30 September 2024

256,680



Depreciation


At 1 October 2023
123,229


Charge for the year on owned assets
38,993


Disposals
(9,192)



At 30 September 2024

153,030



Net book value



At 30 September 2024
103,650



At 30 September 2023
80,419

Page 9

 
SOURCING4U LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
13,890
4,154

Other debtors
20,686
42,320

Prepayments and accrued income
3,258
2,802

37,834
49,276



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
172,675
30,388

Other taxation and social security
67,443
130,334

Other creditors
139,104
30,433

Accruals and deferred income
4,077
3,300

383,299
194,455



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100
100 Ordinary B shares of £1.00 each
100
100

200

200



9.


Pension commitments

Contributions totalling £303 (2023: £271) were payable to the fund at the balance sheet date and are included in creditors.

Page 10

 
SOURCING4U LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Transactions with directors

As at 1 October 2023, the balance on the directors' loan account was £15,007 in credit. 
During the year the company made payments on behalf of the director, totalling £119,466, and the director advanced the company £238,624
Interest of £48 was charged by the company in respect of the overdrawn balances. Interest was charged at a rate of 2.25% for the year. 
The balance on the loan account as at 30 September 2024 was £134,165 in credit, as included within other creditors note 7 above and is repayable on demand.

 
Page 11