Registration number: 13732015

Sors Interiors Limited

trading as Sors Interiors Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Sors Interiors Limited

trading as Sors Interiors Ltd

(Registration number: 13732015)
Balance Sheet as at 30 November 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	9,240	13,860
Tangible assets	5	18,013	25,764
		27,253	39,624
Current assets
Stocks	6	12,367	-
Debtors	7	9,300	28,260
Cash at bank and in hand		4,342	-
		26,009	28,260
Creditors: Amounts falling due within one year	8	(187,987)	(131,230)
Net current liabilities		(161,978)	(102,970)
Total assets less current liabilities		(134,725)	(63,346)
Creditors: Amounts falling due after more than one year	8	(6,910)	(26,204)
Net liabilities		(141,635)	(89,550)
Capital and reserves
Called up share capital		1	1
Retained earnings		(141,636)	(89,551)
Shareholders' deficit		(141,635)	(89,550)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 25 March 2026
 

Sors Interiors Limited

trading as Sors Interiors Ltd

(Registration number: 13732015)
Balance Sheet as at 30 November 2024

......................................... Mr Philip Sors Director

Sors Interiors Limited

trading as Sors Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
20-22 Wenlock Road
London
N1 7GU
England

These financial statements were authorised for issue by the director on 25 March 2026.

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.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the shareholders that they will continue to give financial support to the company for twelve months from the date of signing these accounts.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above may not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustments to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

Revenue recognition

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

Sors Interiors Limited

trading as Sors Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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.

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
Fixtures & Fittings	33% Reducing Balance
Motor Vehicles	25% Reducing Balance
Plant & Machinery	25% Reducing Balance

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:

Asset class	Amortisation method and rate
Franchise Fee	Over 5 Years

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.

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.

Sors Interiors Limited

trading as Sors Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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.

Sors Interiors Limited

trading as Sors Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 the director) during the year, was 4 (2023 - 4).

Sors Interiors Limited

trading as Sors Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4	Intangible assets

	Franchise Fee  £	Total £
Cost or valuation
At 1 December 2023	23,100	23,100
At 30 November 2024	23,100	23,100
Amortisation
At 1 December 2023	9,240	9,240
Amortisation charge	4,620	4,620
At 30 November 2024	13,860	13,860
Carrying amount
At 30 November 2024	9,240	9,240
At 30 November 2023	13,860	13,860

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Equipment tangible assets £	Total £
Cost or valuation
At 1 December 2023	36,070	16,400	278	52,748
At 30 November 2024	36,070	16,400	278	52,748
Depreciation
At 1 December 2023	19,687	7,175	122	26,984
Charge for the year	5,406	2,306	39	7,751
At 30 November 2024	25,093	9,481	161	34,735
Carrying amount
At 30 November 2024	10,977	6,919	117	18,013
At 30 November 2023	16,383	9,225	156	25,764

6

Stocks

	2024 £	2023 £
Work in progress	12,367	-

Sors Interiors Limited

trading as Sors Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Debtors

Current	2024 £	2023 £
Trade debtors	4,800	19,358
Prepayments	4,500	6,750
Other debtors	-	2,152
	9,300	28,260

Sors Interiors Limited

trading as Sors Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings		16,010	17,658
Trade creditors		60,613	29,699
Taxation and social security		38,591	14,613
Accruals and deferred income		955	955
Other creditors		71,818	68,305
		187,987	131,230

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £16,010.24 (2023 - £3,875.76).

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings		6,910	26,204

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £6,909.74 (2023 - £5,216.08).