Soho Consulting Limited

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

1	General information

Soho Consulting Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.

2	Accounting policies

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tax

The tax expense for the period comprises current and deferred 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.

Soho Consulting Limited

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

2	Accounting policies (continued)

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.

Property, plant and equipment

Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

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	4 years cost
Fixtures and fittings	4 years cost
Computer equipment	3 years cost
Motor Vehicle	4 years cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Receivables

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

Inventories

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Soho Consulting Limited

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

2	Accounting policies (continued)

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 income statement 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.

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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Soho Consulting Limited

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

4	Property, plant and equipment

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	84,600	14,500	99,100
At 31 March 2025	84,600	14,500	99,100
Depreciation
At 1 April 2024	84,600	14,500	99,100
At 31 March 2025	84,600	14,500	99,100
Carrying amount
At 31 March 2025	-	-	-

5	Receivables

Current	2025 £	2024 £
Trade receivables	51,600	-
Prepayments	4,130	4,791
Other receivables	60,000	60,000
	115,730	64,791

Soho Consulting Limited

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

6

Payables

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	29,000	29,000
Trade payables		1,496	7,006
Social security and other taxes		12,792	3,522
Other payables		20,643	18,845
Accruals		3,779	8,962
Income tax liability		16,818	11,264
		84,528	78,599

7	Provisions for liabilities

	Deferred tax £	Total £
At 1 April 2024	(232)	(232)
Additional provisions	232	232
At 31 March 2025	-	-

8	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Other borrowings	29,000	29,000

9	Share capital and reserves

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100