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COMPANY REGISTRATION NUMBER: 04389282
Sonco Limited
Filleted Unaudited Financial Statements
30 June 2023
Sonco Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Current assets
Debtors
5
98,385
14,513
Cash at bank and in hand
16,565
249,394
---------
---------
114,950
263,907
Creditors: amounts falling due within one year
6
51,751
194,991
---------
---------
Net current assets
63,199
68,916
--------
--------
Total assets less current liabilities
63,199
68,916
--------
--------
Net assets
63,199
68,916
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
63,099
68,816
--------
--------
Shareholders funds
63,199
68,916
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 4 June 2025 , and are signed on behalf of the board by:
Mr D Sodha
Director
Company registration number: 04389282
Sonco Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 Beechcroft Road, Bushey, WD23 2JU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. Turnover is recognised when the fuel and goods are physically sold to customers.
Income tax
Taxation represents the sum of tax currently payable and deferred tax. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 6 ).
5. Debtors
2023
2022
£
£
Trade debtors
14,513
Other debtors
98,385
--------
--------
98,385
14,513
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
( 917)
Trade creditors
6,870
Corporation tax
39,467
39,567
Social security and other taxes
6,675
19,922
Other creditors
5,609
129,549
--------
---------
51,751
194,991
--------
---------
7. Directors' advances, credits and guarantees
The directors loan account is not disclosed as permitted under Section 1A of FRS 102.