General Information
Soul Chakra Ltd is a private company, limited by shares, registered in England and Wales, registration number 02681152, registration address Unit 14, Princeton Mews , 167 London Road , Kingston Upon Thames , KT2 6PT .
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Land and Buildings |
10% Straight Line |
| Plant and Machinery |
15% Reducing Balance
|
| Motor Vehicles |
10% Straight Line
|
| Fixtures and Fittings |
15% Reducing Balance
|
| Computer Equipment |
15% Reducing Balance
|
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 6 (2024 : 7).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Land and Buildings |
|
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
29,133 |
|
65,469 |
|
19,249 |
|
18,652 |
|
99,602 |
|
232,105 |
| Additions |
- |
|
- |
|
- |
|
1,342 |
|
14,237 |
|
15,579 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
29,133 |
|
65,469 |
|
19,249 |
|
19,994 |
|
113,839 |
|
247,684 |
| Depreciation |
| At 01 April 2024 |
19,179 |
|
58,472 |
|
1,925 |
|
11,192 |
|
63,281 |
|
154,049 |
| Charge for year |
2,913 |
|
1,050 |
|
1,925 |
|
1,320 |
|
7,508 |
|
14,716 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
22,092 |
|
59,522 |
|
3,850 |
|
12,512 |
|
70,789 |
|
168,765 |
| Net book values |
| Closing balance as at 31 March 2025 |
7,041 |
|
5,947 |
|
15,399 |
|
7,482 |
|
43,050 |
|
78,919 |
| Opening balance as at 01 April 2024 |
9,954 |
|
6,997 |
|
17,324 |
|
7,460 |
|
36,321 |
|
78,056 |
|
| 4. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Accrued Income |
135,859 |
|
154,426 |
| Directors' Current Accounts |
264,887 |
|
323,660 |
|
400,746 |
|
478,086 |
|
| 5. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
56,662 |
|
29,764 |
| Amounts Owed to Group Undertakings |
288 |
|
2,508 |
| Corporation Tax |
100,473 |
|
93,142 |
| PAYE & Social Security |
2,999 |
|
1,380 |
| Accrued Expenses |
37,523 |
|
120,010 |
| Other Creditors |
1 |
|
0 |
| Wages & Salaries Control Account |
0 |
|
1,417 |
| Pension Control Account |
488 |
|
321 |
| VAT |
71,087 |
|
79,744 |
|
269,521 |
|
328,286 |
|
| 6. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts (secured) |
23,358 |
|
33,745 |
|
23,358 |
|
33,745 |
|
| 7. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
19,818 |
|
19,514 |
|
19,818 |
|
19,514 |
|
| 8. |
Related parties
During the year the company entered into the following transactions with related parties: | Transaction value - income/(expenses) | | Balance owed by/(owed to) |
|---|
| 2025
£ | | 2024
£ | | 2025
£ | | 2024
£ |
|---|
| Soul Chakra Holdings Limited | 0 | | 0 | | (288) | | (2,508) |
On 31 March 2025, the company owes £288 (2024: £2,508) to Soul Chakra Holdings Limited, its parent company. |
| 9. |
Advances and Credits
Michele Knight-Waite Interest free loans have been granted by the company to its director as follows:
Ms M Knight-Waite - owed the business £264,887 (2024: £323,660) on 31 March 2025.
The loan has been repaid within nine months of the year end date. | Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| Michele Knight-Waite | 323,660 | | 391,227 | | 0 | | 450,000 | | 0 | | 0 | | 264,887 | | 323660 | | 391227 | | 0 | | 450000 | | 0 | | 0 | | 264887 |
| Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| Michele Knight-Waite | 367,496 | | 428,498 | | 0 | | 472,334 | | 0 | | 0 | | 323,660 | | 367496 | | 428498 | | 0 | | 472334 | | 0 | | 0 | | 323660 |
|
| 10. |
Parent Company
The parent company is Soul Chakra Holdings Limited, a company incorporated in England & Wales. Its registered office is 14 Princeton Mews, 167 London Rd, Kingston KT2 6PT.
The controlling party of that company is Michele Knight-Waite.
|
3
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