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Registration number: 00698651

Sorkin Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 September 2024

 

Sorkin Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Sorkin Limited

(Registration number: 00698651)
Balance Sheet as at 29 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

5,157,689

4,855,364

Current assets

 

Debtors

6

112,819

293,009

Cash at bank and in hand

 

321,402

792,482

 

434,221

1,085,491

Creditors: Amounts falling due within one year

7

(92,617)

(295,299)

Net current assets

 

341,604

790,192

Total assets less current liabilities

 

5,499,293

5,645,556

Creditors: Amounts falling due after more than one year

7

(2,125,000)

(2,125,000)

Provisions for liabilities

(211,394)

(211,394)

Net assets

 

3,162,899

3,309,162

Capital and reserves

 

Called up share capital

8

305

305

Retained earnings

3,162,594

3,308,857

Shareholders' funds

 

3,162,899

3,309,162

For the financial year ending 29 September 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 26 June 2025 and signed on its behalf by:
 

 

Sorkin Limited

(Registration number: 00698651)
Balance Sheet as at 29 September 2024

Mr J Sorkin
Company secretary and director

Mrs B Sorkin
Director

Mrs G Sorkin
Director

Mr S Sorkin
Director

     
 

Sorkin Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 September 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Parkhill Studio
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
England

These financial statements were authorised for issue by the Board on 26 June 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

 

Sorkin Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and building

Not depreciated

Computer equipment

33% straight line

Fixtures nd fittings

10% striaght line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Sorkin Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 September 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

2,250

360

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 30 September 2023

4,855,000

57,956

4,912,956

Revaluations

290,000

-

290,000

Additions

-

14,575

14,575

At 29 September 2024

5,145,000

72,531

5,217,531

Depreciation

At 30 September 2023

-

57,592

57,592

Charge for the year

-

2,250

2,250

At 29 September 2024

-

59,842

59,842

Carrying amount

At 29 September 2024

5,145,000

12,689

5,157,689

At 29 September 2023

4,855,000

364

4,855,364

Included within the net book value of land and buildings above is £5,145,000 (2023 - £4,855,000) in respect of freehold land and buildings.
 

6

Debtors

Current

2024
£

2023
£

Trade debtors

46,189

73,189

Prepayments

11,586

10,541

Other debtors

55,044

209,279

 

112,819

293,009

 

Sorkin Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 September 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

400

462

Taxation and social security

17,458

133,493

Accruals and deferred income

24,493

7,625

Other creditors

50,266

153,719

92,617

295,299

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

2,125,000

2,125,000

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.01 each

15,225

152

15,225

152

Ordinary shares - A to H of £0.01 each

15,225

152

15,225

152

30,450

305

30,450

305

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,125,000

2,125,000

 

Sorkin Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 September 2024

10

Parent and ultimate parent undertaking

The ultimate controlling party is the directors acting together who hold a controlling interest in the shares of the company.