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SOUKSPLACE LTD

Registered Number
SC547877
(Scotland)

Unaudited Financial Statements for the Year ended
31 October 2024

SOUKSPLACE LTD
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

IQBAL, Faiza

Registered Address

2 Sutherland Way
Livingston
EH54 8HT

Registered Number

SC547877 (Scotland)
SOUKSPLACE LTD
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets314,67522,012
14,67522,012
Current assets
Debtors135,270198,143
Cash at bank and on hand97,44983,383
232,719281,526
Creditors amounts falling due within one year(207,423)(256,175)
Net current assets (liabilities)25,29625,351
Total assets less current liabilities39,97147,363
Creditors amounts falling due after one year(20,473)(30,309)
Net assets19,49817,054
Capital and reserves
Called up share capital1,0001,000
Profit and loss account18,49816,054
Shareholders' funds19,49817,054
The financial statements were approved and authorised for issue by the Director on 25 July 2025, and are signed on its behalf by:
IQBAL, Faiza
Director
Registered Company No. SC547877
SOUKSPLACE LTD
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year119
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 2325,563
At 31 October 2425,563
Depreciation and impairment
At 01 November 233,550
Charge for year7,338
At 31 October 2410,888
Net book value
At 31 October 2414,675
At 31 October 2322,012