| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| SODAJO LIMITED |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 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 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 | 618,254 | 30,262 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SODAJO LIMITED (REGISTERED NUMBER: 07067229) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Sodajo Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| 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 |
| Additional information is as follows: |
| Listed |
| investments |
| £ |
| COST OR VALUATION |
| At 1 October 2023 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 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 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 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 |
| Amounts owed by group undertakings |
| Tax |
| Prepayments and accrued income |
| Amounts falling due after more than one year: |
| Directors' loan accounts |
| Aggregate amounts |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Tax |
| Social security and other taxes |
| Amounts owed to group undertakings |
| Accruals and deferred income |
| 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: | £ | £ |
| Ordinary | 1 | 6,025,000 | 6,025,000 |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 October 2023 |
| and 30 September 2024 |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 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 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 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 |
| companies accounts are available at Companies House. |