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REGISTERED NUMBER: 12943631 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Sourcing International Limited
T/A
Drinks Chef

Sourcing International Limited (Registered number: 12943631)
T/A Drinks Chef






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sourcing International Limited
T/A Drinks Chef

Company Information
for the Year Ended 31 December 2024







DIRECTORS: L T J Jeffries
E J Macilwraith
J A Szopa





REGISTERED OFFICE: Unit A1 Bowbridge Works
Chartwell Drive
Wigston
LE18 2FL





REGISTERED NUMBER: 12943631 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Sourcing International Limited (Registered number: 12943631)
T/A Drinks Chef

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 42,000 48,000
Tangible assets 5 172,875 249,389
214,875 297,389

CURRENT ASSETS
Stocks 60,000 -
Debtors 6 234,591 109,695
Cash at bank 82,269 100,889
376,860 210,584
CREDITORS
Amounts falling due within one year 7 (412,835 ) (201,080 )
NET CURRENT (LIABILITIES)/ASSETS (35,975 ) 9,504
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,900

306,893

CREDITORS
Amounts falling due after more than one
year

8

(17,352

)

(12,798

)

PROVISIONS FOR LIABILITIES (50,815 ) (68,871 )
NET ASSETS 110,733 225,224

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 110,633 225,124
110,733 225,224

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Sourcing International Limited (Registered number: 12943631)
T/A Drinks Chef

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





E J Macilwraith - Director


Sourcing International Limited (Registered number: 12943631)
T/A Drinks Chef

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

1. STATUTORY INFORMATION

Sourcing International 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. 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 historical cost convention.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Sourcing International Limited (Registered number: 12943631)
T/A Drinks Chef

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

2. 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.

Hire purchase and leasing commitments
Assets obtained under the hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2024
and 31 December 2024 60,000
AMORTISATION
At 1 January 2024 12,000
Amortisation for year 6,000
At 31 December 2024 18,000
NET BOOK VALUE
At 31 December 2024 42,000
At 31 December 2023 48,000

Sourcing International Limited (Registered number: 12943631)
T/A Drinks Chef

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 372,769 19,653 56,090 15,683 464,195
Additions 17,580 850 - 654 19,084
Disposals - - (6,200 ) - (6,200 )
At 31 December 2024 390,349 20,503 49,890 16,337 477,079
DEPRECIATION
At 1 January 2024 151,716 10,148 40,262 12,680 214,806
Charge for year 75,059 4,022 12,472 2,295 93,848
Eliminated on disposal - - (4,450 ) - (4,450 )
At 31 December 2024 226,775 14,170 48,284 14,975 304,204
NET BOOK VALUE
At 31 December 2024 163,574 6,333 1,606 1,362 172,875
At 31 December 2023 221,053 9,505 15,828 3,003 249,389

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 193,785 72,110
Other debtors 40,806 37,585
234,591 109,695

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts and finance leases 18,483 33,082
Trade creditors 87,441 28,115
Taxation and social security 177,550 55,118
Other creditors 129,361 84,765
412,835 201,080

Other creditors includes accruals and deferred income of £125,262 (2023 - £54,958).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts and finance leases 17,352 12,798

Sourcing International Limited (Registered number: 12943631)
T/A Drinks Chef

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Hire purchase contracts and finance leases 35,835 45,880

Hire purchase and finance lease liabilities are secured on the individual assets being so acquired.

10. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £33,901 (2023 - £31,055)

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
L T J Jeffries
Balance outstanding at start of year - -
Amounts advanced 20,196 -
Amounts repaid (20,196 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan was repayable on demand and interest has been charged at the HMRC Official Rate.

12. RELATED PARTY DISCLOSURES

The director, Mr L T J Jeffries has provided a personal guarantee of £59,613 on the Hire Purchase.