REGISTERED NUMBER: 02493040 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 December 2024

for

Sortlane Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss F Gulyas

Ms M C Payne

REGISTERED OFFICE:

5 Church Street

Framlingham

Woodbridge

Suffolk

IP13 9BQ

REGISTERED NUMBER:

02493040 (England and Wales)

ACCOUNTANTS:

Turner & Ellerby

Chartered Certified Accountants

5 Church Street

Framlingham

Woodbridge

Suffolk

IP13 9BQ

FIXED ASSETS

Tangible assets

4

981,291

981,291

CURRENT ASSETS

Debtors

5

9,495

22,942

Cash at bank

13,228

25,068

22,723

48,010

CREDITORS

Amounts falling due within one year

6

80,018

96,934

NET CURRENT LIABILITIES

(57,295

)

(48,924

)

TOTAL ASSETS LESS CURRENT LIABILITIES

923,996

932,367

CREDITORS

Amounts falling due after more than one year

7

-

3,496

NET ASSETS

923,996

928,871

CAPITAL AND RESERVES

Called up share capital

24,500

24,500

Retained earnings

899,496

904,371

SHAREHOLDERS' FUNDS

923,996

928,871

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Miss F Gulyas - Director

1.	STATUTORY INFORMATION

Sortlane Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents rental income due excluding vat.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold Investment property

-

not provided

Computer equipment

-

33% on cost

Investment Property

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised through the profit and loss account.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Investment

Computer

property

equipment

Totals

£

£

£

COST

At 31 December 2023

and 30 December 2024

981,291

1,269

982,560

DEPRECIATION

At 31 December 2023

and 30 December 2024

-

1,269

1,269

NET BOOK VALUE

At 30 December 2024

981,291

-

981,291

At 30 December 2023

981,291

-

981,291

For the year ended 30th December 2024 the directors' reviewed the valuation of the investment property on an open market basis and were of the opinion that the properties are stated at fair value and no adjustment was required.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

13,417

Other debtors

8,666

7,341

VAT

-

1,386

Prepayments

829

798

9,495

22,942

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 8)

1,628

16,000

Trade creditors

-

6,238

Tax

-

618

Other creditors

500

500

Directors' current accounts

70,270

59,958

Accrued expenses

7,620

13,620

80,018

96,934

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 8)

-

3,496

8.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

1,628

16,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

3,496

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

1,628

19,496

Bank borrowings are secured by a charge over the company's assets.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 December 2024 and 30 December 2023:

2024

2023

£

£

Miss F Gulyas

Balance outstanding at start of year

-

10,835

Amounts repaid

-

(10,835

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Sortlane Holdings Ltd.

The ultimate controlling party is F Gulyas.