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Registration number: 10039841

Sovereign Entity Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Sovereign Entity Limited

Contents

Company Information

1

Director's Report

2

Profit and Loss Account and Statement of Retained Earnings

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 9

iXBRL Detailed Profit and Loss Account

10

Accountants' Report

11

 

Sovereign Entity Limited

Company Information

Director

J Tipper

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Sovereign Entity Limited

Director's Report for the Year Ended 31 March 2025

The director presents her report and the financial statements for the year ended 31 March 2025.

Director of the company

The director who held office during the year was as follows:

J Tipper

Principal activity

The principal activity of the company is that of manangement consultancy activities other than financial management.

Small companies provision statement

This report has 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 director on 30 May 2025
 

.........................................
J Tipper
Director

 

Sovereign Entity Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2025

Note

2025
£

2024
£

Turnover

 

68,038

-

Administrative expenses

 

(5,245)

(1,176)

Operating profit/(loss)

 

62,793

(1,176)

Other interest receivable and similar income

 

191

10

 

191

10

Profit/(loss) before tax

4

62,984

(1,166)

Taxation

(13,012)

170

Profit/(loss) for the financial year

 

49,972

(996)

Retained earnings brought forward

 

(288)

708

Dividends paid

 

(26,200)

-

Retained earnings carried forward

 

23,484

(288)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Sovereign Entity Limited

(Registration number: 10039841)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

271

541

Current assets

 

Debtors

6

4,315

170

Cash at bank and in hand

 

32,350

356

 

36,665

526

Creditors: Amounts falling due within one year

7

(13,442)

(1,345)

Net current assets/(liabilities)

 

23,223

(819)

Net assets/(liabilities)

 

23,494

(278)

Capital and reserves

 

Called up share capital

10

10

Retained earnings

23,484

(288)

Shareholders' funds/(deficit)

 

23,494

(278)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 director on 30 May 2025
 

.........................................
J Tipper
Director

 

Sovereign Entity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Sovereign Entity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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

Office equipment

20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Sovereign Entity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Sovereign Entity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Profit/loss before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

270

270

 

Sovereign Entity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

1,352

1,352

At 31 March 2025

1,352

1,352

Depreciation

At 1 April 2024

811

811

Charge for the year

270

270

At 31 March 2025

1,081

1,081

Carrying amount

At 31 March 2025

271

271

At 31 March 2024

541

541

6

Debtors

2025
£

2024
£

Taxation and social security

-

170

Director loan account

4,315

-

4,315

170

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

-

13

Taxation and social security

12,842

-

Accruals and deferred income

600

600

Director loan account

-

732

13,442

1,345

 

Sovereign Entity Limited

iXBRL Detailed Profit and Loss Account for the Year Ended 31 March 2025

2025
£

2024
£

Turnover/revenue

68,038

-

Cost of sales

Opening stock/inventories

-

-

Closing stock/inventories

-

-

Gross profit

68,038

-

Distribution costs

Administrative expenses

Audit and accountancy other services

(899)

(330)

Depreciation of Fixed assets

(270)

(270)

Vehicle costs

(482)

-

Company contributions to money purchase plans, directors

(2,110)

-

Travel and subsistence

(208)

-

Bank charges

(13)

(2)

Insurance costs

(343)

-

Printing, postage and stationery

(242)

-

Other operational and administration costs

(678)

(574)

Other operating income

Other items

Profit/(loss) on ordinary activities before finance charges and interest

62,793

(1,176)

Bank interest and similar income receivable

191

-

Non-bank interest and similar income receivable

-

10

Profit/(loss) on ordinary activities before taxation

62,984

(1,166)

Tax on profit or loss on ordinary activities

(13,012)

170

Profit/(loss) for the financial year

49,972

(996)

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Sovereign Entity Limited
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sovereign Entity Limited for the year ended 31 March 2025 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Sovereign Entity Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Sovereign Entity Limited and state those matters that we have agreed to state to the Board of Directors of Sovereign Entity Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sovereign Entity Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Sovereign Entity Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Sovereign Entity Limited. You consider that Sovereign Entity Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Sovereign Entity Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

30 May 2025