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REGISTERED NUMBER: 07067229 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

SODAJO LIMITED

SODAJO LIMITED (REGISTERED NUMBER: 07067229)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SODAJO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr R H Burbidge
Mrs P A Burbidge
Mr D H A Burbidge
Mrs S A Peach
Mr J Burbidge





SECRETARY: Mr R Lincoln





REGISTERED OFFICE: Burbidge House Canal Wood Industrial Est
Chirk
Wrexham
LL14 5RL





REGISTERED NUMBER: 07067229 (England and Wales)





AUDITORS: D.R.E. & Co. (Audit) Limited
7 Lower Brook Street
Oswestry
Shropshire
SY11 2HG

SODAJO LIMITED (REGISTERED NUMBER: 07067229)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Investments 5 12,063,318 9,546,748
Investment property 6 10,156,457 10,156,457
22,219,775 19,703,205

CURRENT ASSETS
Debtors 7 618,254 30,262
Cash at bank 2,750,588 4,694,518
3,368,842 4,724,780
CREDITORS
Amounts falling due within one year 8 147,165 277,256
NET CURRENT ASSETS 3,221,677 4,447,524
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,441,452

24,150,729

PROVISIONS FOR LIABILITIES 665,653 780,680
NET ASSETS 24,775,799 23,370,049

CAPITAL AND RESERVES
Called up share capital 10 6,025,000 6,025,000
Revaluation reserve 11 1,803,891 1,803,891
Retained earnings 16,946,908 15,541,158
SHAREHOLDERS' FUNDS 24,775,799 23,370,049

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:





Mr J Burbidge - Director


SODAJO LIMITED (REGISTERED NUMBER: 07067229)

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

1. STATUTORY INFORMATION

Sodajo 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" including the provisions of Section 1A "Small Entities" 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.

These financial statements are for the individual only.

The presentation currency is Sterling (£), rounded to the nearest £1.

Significant judgements and estimates
Preparation of the financial statements in conformity with generally accepted accounting principles requires the directors to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the period. Actual results in the future could differ from the estimates. In this regard, the directors believe that the critical accounting policy where judgements or estimates are necessarily applied are in the calculation of valuation of investment properties. Management have used the latest property valuations, and available market data to determine the market value at the period end.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

Valuation of investments
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed Company shares are remeasured to market value at each Balance sheet date.
Gains and losses on remeasurement are recognised in Statement of Comprehensive Income for the
period.

SODAJO LIMITED (REGISTERED NUMBER: 07067229)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. ACCOUNTING POLICIES - continued

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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.

SODAJO LIMITED (REGISTERED NUMBER: 07067229)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

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.

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.

Interest income
Interest income is recognised in the Income Statement using the effective interest method.

4. EMPLOYEES AND DIRECTORS

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

5. FIXED ASSET INVESTMENTS

30.9.24 30.9.23
£    £   
Other investments not loans 12,063,318 9,546,748

Additional information is as follows:
Listed
investments
£   
COST OR VALUATION
At 1 October 2023 6,546,748
Additions 2,795,535
Disposals (2,734,316 )
Revaluations 655,351
At 30 September 2024 7,263,318
NET BOOK VALUE
At 30 September 2024 7,263,318
At 30 September 2023 6,546,748

Listed investments have been revalued by £655,351 for the year ended 30 September 2024.

Investments (neither listed nor unlisted) were as follows:
30.9.24 30.9.23
£    £   
Other fixed asset investments- cost b/f 4,800,000 3,000,000

SODAJO LIMITED (REGISTERED NUMBER: 07067229)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 10,156,457
NET BOOK VALUE
At 30 September 2024 10,156,457
At 30 September 2023 10,156,457

The 2024 valuations were made by the directors of the Company, on an open market value for existing use basis.

7. DEBTORS
30.9.24 30.9.23
£    £   
Amounts falling due within one year:
Other debtors - 242
Amounts owed by group undertakings 82,092 -
Tax 104,240 -
Prepayments and accrued income 123,062 30,020
309,394 30,262

Amounts falling due after more than one year:
Directors' loan accounts 308,860 -

Aggregate amounts 618,254 30,262

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Tax 104,240 -
Social security and other taxes 22,251 21,819
Amounts owed to group undertakings - 242,236
Accruals and deferred income 20,674 13,201
147,165 277,256

9. SECURED DEBTS

Propensions Limited hold a debenture as security which includes a fixed charge and negative pledge over the freehold land known as 11 New North Road and freehold land know as Canal Wood Industrial Estate.

The Trustees of the Atkinson Marketing Limited Pension and Life insurance scheme hold a debenture as security which include a fixed charge and negative pledge over all and whole those subjects forming 2 Telford Square, Houston Industrial Estate.

SODAJO LIMITED (REGISTERED NUMBER: 07067229)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
6,025,000 Ordinary 1 6,025,000 6,025,000

11. RESERVES
Revaluation
reserve
£   
At 1 October 2023
and 30 September 2024 1,803,891

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aled Davies FCCA (Senior Statutory Auditor)
for and on behalf of D.R.E. & Co. (Audit) Limited

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
Mr D H A Burbidge
Balance outstanding at start of year - -
Amounts advanced 308,860 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 308,860 -

The overdrawn directors loan account is subject to an interest rate of 5% per annum.

14. RELATED PARTY DISCLOSURES

The entity has taken the exemption from disclosing related party transactions in accordance with The Financial Reporting Standard 102 Section 33.

No amounts were paid to key management personnel during the year (2023: £NIL).

SODAJO LIMITED (REGISTERED NUMBER: 07067229)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

15. ULTIMATE CONTROLLING PARTY

The immediate parent Company is Ripat Limited, a Company incorporated in England and Wales. The
companies accounts are available at Companies House.

Josh Burbidge, a director of this Company and Ripat Limited, and members of his close family control the Group as a result of controlling directly or indirectly 100% of the issued share capital of Ripat Limited.