Sounas Limited 03406266 false 2023-01-01 2024-06-30 2024-06-30 The principal activity of the company is the production of naan bread,indian savouries and other related products Digita Accounts Production Advanced 6.30.9574.0 true 03406266 2023-01-01 2024-06-30 03406266 2024-06-30 03406266 bus:OrdinaryShareClass1 2024-06-30 03406266 core:FurtherSpecificReserve1ComponentTotalEquity 2024-06-30 03406266 core:RetainedEarningsAccumulatedLosses 2024-06-30 03406266 core:ShareCapital 2024-06-30 03406266 core:CurrentFinancialInstruments 2024-06-30 03406266 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 03406266 core:Non-currentFinancialInstruments 2024-06-30 03406266 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 03406266 core:Goodwill 2024-06-30 03406266 core:FurnitureFittings 2024-06-30 03406266 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 03406266 core:MotorVehicles 2024-06-30 03406266 core:OfficeEquipment 2024-06-30 03406266 core:PlantMachinery 2024-06-30 03406266 core:ParentEntities 2024-06-30 03406266 bus:SmallEntities 2023-01-01 2024-06-30 03406266 bus:AuditExemptWithAccountantsReport 2023-01-01 2024-06-30 03406266 bus:FilletedAccounts 2023-01-01 2024-06-30 03406266 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2024-06-30 03406266 bus:RegisteredOffice 2023-01-01 2024-06-30 03406266 bus:Director1 2023-01-01 2024-06-30 03406266 bus:Director4 2023-01-01 2024-06-30 03406266 bus:Director5 2023-01-01 2024-06-30 03406266 bus:OrdinaryShareClass1 2023-01-01 2024-06-30 03406266 bus:PrivateLimitedCompanyLtd 2023-01-01 2024-06-30 03406266 bus:Agent1 2023-01-01 2024-06-30 03406266 core:FurtherSpecificReserve1ComponentTotalEquity 2023-01-01 2024-06-30 03406266 core:RetainedEarningsAccumulatedLosses 2023-01-01 2024-06-30 03406266 core:ShareCapital 2023-01-01 2024-06-30 03406266 core:Goodwill 2023-01-01 2024-06-30 03406266 core:FurnitureFittings 2023-01-01 2024-06-30 03406266 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2024-06-30 03406266 core:MotorVehicles 2023-01-01 2024-06-30 03406266 core:OfficeEquipment 2023-01-01 2024-06-30 03406266 core:PlantMachinery 2023-01-01 2024-06-30 03406266 core:Vehicles 2023-01-01 2024-06-30 03406266 core:ParentEntities 2023-01-01 2024-06-30 03406266 core:UKTax 2023-01-01 2024-06-30 03406266 countries:UnitedKingdom 2023-01-01 2024-06-30 03406266 2022-12-31 03406266 core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 03406266 core:RetainedEarningsAccumulatedLosses 2022-12-31 03406266 core:ShareCapital 2022-12-31 03406266 core:Goodwill 2022-12-31 03406266 core:FurnitureFittings 2022-12-31 03406266 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 03406266 core:MotorVehicles 2022-12-31 03406266 core:OfficeEquipment 2022-12-31 03406266 core:PlantMachinery 2022-12-31 03406266 2022-01-01 2022-12-31 03406266 2022-12-31 03406266 bus:OrdinaryShareClass1 2022-12-31 03406266 core:CurrentFinancialInstruments 2022-12-31 03406266 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03406266 core:Non-currentFinancialInstruments 2022-12-31 03406266 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 03406266 core:Goodwill 2022-12-31 03406266 core:FurnitureFittings 2022-12-31 03406266 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 03406266 core:MotorVehicles 2022-12-31 03406266 core:OfficeEquipment 2022-12-31 03406266 core:PlantMachinery 2022-12-31 03406266 core:FurtherSpecificReserve1ComponentTotalEquity 2022-01-01 2022-12-31 03406266 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 03406266 core:ShareCapital 2022-01-01 2022-12-31 03406266 core:UKTax 2022-01-01 2022-12-31 03406266 2021-12-31 03406266 core:FurtherSpecificReserve1ComponentTotalEquity 2021-12-31 03406266 core:RetainedEarningsAccumulatedLosses 2021-12-31 03406266 core:ShareCapital 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03406266

Sounas Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 January 2023 to 30 June 2024

 

Sounas Limited

Company Information

Directors

Chawla & Gulati Property Investments Limited

Ajit Singh Chawla

Jagmeet Singh Kataria

Registered office

Unit 2B Beaver Industrial Estate
Brent Road
Southall
UB2 5FB

Accountants

Mehta & Tengra
Chartered Accountants9 Berners Place
London
W1T 3AD

 

Sounas Limited

(Registration number: 03406266)
Balance Sheet as at 30 June 2024

Note

2024
£

2022
£

Fixed assets

 

Intangible assets

5

350,000

350,000

Tangible assets

6

2,820,836

2,855,545

 

3,170,836

3,205,545

Current assets

 

Stocks

7

28,416

24,610

Debtors

8

2,159,884

217,620

Investments

9

-

250,997

Cash at bank and in hand

 

36,428

2,090

 

2,224,728

495,317

Creditors: Amounts falling due within one year

10

(281,469)

(614,718)

Net current assets/(liabilities)

 

1,943,259

(119,401)

Total assets less current liabilities

 

5,114,095

3,086,144

Creditors: Amounts falling due after more than one year

10

(3,100,000)

(1,020,450)

Net assets

 

2,014,095

2,065,694

Capital and reserves

 

Called up share capital

11

100

100

Other reserves

350,000

350,000

Retained earnings

1,663,995

1,715,594

Shareholders' funds

 

2,014,095

2,065,694

For the financial period ending 30 June 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 period 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 June 2025 and signed on its behalf by:
 

 

Sounas Limited

(Registration number: 03406266)
Balance Sheet as at 30 June 2024

.........................................
Ajit Singh Chawla
Director

 

Sounas Limited

Statement of Changes in Equity for the Period from 1 January 2023 to 30 June 2024

Share capital
£

Other reserves
£

Retained earnings
£

Total
£

At 1 January 2023

100

350,000

1,715,594

2,065,694

Loss for the period

-

-

(51,599)

(51,599)

At 30 June 2024

100

350,000

1,663,995

2,014,095

Share capital
£

Other reserves
£

Retained earnings
£

Total
£

At 1 January 2022

100

-

1,430,697

1,430,797

Profit for the period

-

-

284,897

284,897

Other movements on reserves

-

350,000

-

350,000

At 31 December 2022

100

350,000

1,715,594

2,065,694

 

Sounas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 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:
Unit 2B Beaver Industrial Estate
Brent Road
Southall
UB2 5FB

These financial statements were authorised for issue by the Board on 30 June 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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.

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.

 

Sounas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 2024

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

Plant and machinery

10% reducing balance

Motor Vehicles

25% reducing balance

Office Equipment

33% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Sounas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 19 (2022 - 30).

 

Sounas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 2024

4

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2022
£

Current taxation

UK corporation tax

85,943

71,545

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

350,000

350,000

At 30 June 2024

350,000

350,000

Amortisation

Carrying amount

At 30 June 2024

350,000

350,000

At 31 December 2022

350,000

350,000

Hitherto, goodwill has not been amortised, but will be assessed and provided for from 1 July 2024.

 

Sounas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 2024

6

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

2,627,122

5,528

484,300

-

110,991

3,227,941

Additions

-

-

-

2,272

-

2,272

At 30 June 2024

2,627,122

5,528

484,300

2,272

110,991

3,230,213

Depreciation

At 1 January 2023

-

5,528

266,842

-

100,026

372,396

Charge for the period

-

-

32,619

250

4,112

36,981

At 30 June 2024

-

5,528

299,461

250

104,138

409,377

Carrying amount

At 30 June 2024

2,627,122

-

184,839

2,022

6,853

2,820,836

At 31 December 2022

2,627,122

-

217,458

-

10,965

2,855,545

Included within the net book value of land and buildings above is £2,627,122 (2022 - £2,627,122) in respect of freehold land and buildings.

Hitherto, the freehold property has not been depreciated but will be provided from 1 July 2024.
 

7

Stocks

2024
£

2022
£

Finished goods and goods for resale

28,416

24,610

8

Debtors

Current

Note

2024
£

2022
£

Trade debtors

 

177,042

174,138

Amounts owed to holding company

13

1,891,880

-

Other debtors

 

65,875

-

VAT

 

25,087

43,482

   

2,159,884

217,620

 

Sounas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 2024

9

Current asset investments

2024
£

2022
£

Other investments

-

250,997

 

Sounas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 2024

10

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2022
£

Due within one year

 

Loans and borrowings

12

-

71,817

Trade creditors

 

52,294

32,798

Accruals and deferred income

 

4,500

-

Other creditors

 

5,991

14,556

Paye,salaries & wages

 

19,959

-

Corporation tax

 

159,003

71,546

Director current account

 

39,722

424,001

 

281,469

614,718

Creditors: amounts falling due after more than one year

Note

2024
£

2022
£

Due after one year

 

Loans and borrowings

12

3,100,000

1,020,450

11

Share capital

Allotted, called up and fully paid shares

2024

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

12

Loans and borrowings

Non-current loans and borrowings

2024
£

2022
£

Bank borrowings

3,100,000

1,020,450

Current loans and borrowings

2024
£

2022
£

Bank overdrafts

-

71,817

 

Sounas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 2024

13

Related party transactions

Directors' remuneration

The directors' remuneration for the period was as follows:

2024
£

2022
£

Remuneration

10,500

9,000

Summary of transactions with parent

Chawla & Gulati Property Investments Limited

On 22 March 2024, Chawla & Gulati Property Investments Limited purchased all of the shares of Sounas limited.

Loans from related parties

2024

Parent
£

Total
£

Advanced

1,891,880

1,891,880

At end of period

1,891,880

1,891,880