Registration number:05743003 (England and Wales)

Sock Academy Ltd

Contents

Company Information	1
Statement of Directors' Responsibilities	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 9

Sock Academy Ltd

Company Information

Directors

Y B Jatania C Catlin

 

Registered office

Suite 116-117a Capability House Wrest Park Silsoe Bedfordshire MK45 4HR

 

Accountants

Telic Advisory Limited Chartered Certified Accountants5th Floor, Congress House 14 Lyon Road Harrow HA1 2EN

Sock Academy Ltd

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with the Companies Act 2006 and the applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Sock Academy Ltd

(Registration number: 05743003)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,995	329
Current assets
Stocks	5	396,161	316,777
Debtors	6	91,548	144,784
Cash at bank and in hand		219,387	256,324
		707,096	717,885
Creditors: Amounts falling due within one year	7	(345,822)	(253,866)
Net current assets		361,274	464,019
Total assets less current liabilities		363,269	464,348
Provisions for liabilities		(499)	-
Net assets		362,770	464,348
Capital and reserves
Called up share capital		100	100
Retained earnings		362,670	464,248
Shareholders' funds		362,770	464,348

For the financial year ending 31 March 2025 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 year 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

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 Income Statement.

Approved and authorised by the Board on 19 December 2025 and signed on its behalf by:
 

Sock Academy Ltd

(Registration number: 05743003)
Balance Sheet as at 31 March 2025

......................................... Y B Jatania Director

Sock Academy Ltd

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

1	General information

Sock Academy Ltd 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

Statement of compliance

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.

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.

Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group..

Turnover

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Sock Academy Ltd

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

2	Accounting policies (continued)

Deferred Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Tangible assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Stocks

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post retirement benefit is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Sock Academy Ltd

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

2	Accounting policies (continued)

Financial instruments

Classification
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
 

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	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 12).

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Sock Academy Ltd

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

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	5,970	7,798	10,281	24,049
Additions	-	-	2,092	2,092
At 31 March 2025	5,970	7,798	12,373	26,141
Depreciation
At 1 April 2024	5,878	7,798	10,044	23,720
Charge for the year	32	-	394	426
At 31 March 2025	5,910	7,798	10,438	24,146
Carrying amount
At 31 March 2025	60	-	1,935	1,995
At 31 March 2024	92	-	237	329

5

Stocks

	2025 £	2024 £
Other inventories	396,161	316,777

6

Debtors

Current	2025 £	2024 £
Trade debtors	49,196	85,754
Prepayments	30,158	38,630
Other debtors	12,194	20,400
	91,548	144,784

7

Creditors

Creditors: amounts falling due within one year

Sock Academy Ltd

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

7	Creditors (continued)

	2025 £	2024 £
Due within one year
Trade creditors	162,557	171,078
Taxation and social security	37,311	33,318
Accruals and deferred income	13,555	17,000
Other creditors	132,399	32,470
	345,822	253,866

8

Dividends

		2025		2024
		£		£
Final dividend of £250,000.00 (2024 - £Nil) per ordinary share		250,000		-

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
 

9	Parent and ultimate parent undertaking

The ultimate controlling party is Jatania Holdings limited whose registered office address is C/O Telic Advisory Limited, 5th Floor, Congress House, 14 Lyon Road, Harrow, England, HA1 2EN.