Socketfast Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 07420879 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

SOCKETFAST LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

I W Harris

I S Wilkinson

A M Cheslin

SECRETARY:

I W Harris

REGISTERED OFFICE:

Linley Lodge Industrial Estate Westgate

Westgate

Aldridge

Walsall

West Midlands

WS9 8EX

REGISTERED NUMBER:

07420879 (England and Wales)

ACCOUNTANTS:

Blackthorns

Admiral House

Waterfront East

Brierley Hill

West Midlands

DY5 1XG

CURRENT ASSETS

Stocks

-

144,439

Debtors

4

6,902

173,262

Cash at bank

7,822

27,785

14,724

345,486

CREDITORS

Amounts falling due within one year

5

14,624

247,449

NET CURRENT ASSETS

100

98,037

TOTAL ASSETS LESS CURRENT
LIABILITIES

100

98,037

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

-

97,937

100

98,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2026 and were signed on its behalf by:

I W Harris - Director

1.	STATUTORY INFORMATION

Socketfast Ltd is a private company, limited by shares, registered in England and Wales, registered number 07420879. Its registered office is Linley Lodge Industrial Estate Westgate,Westgate, Aldridge, Walsall, West Midlands, WS9 8EX.

The financial statements are presented in Sterling, which is the functional currency of the company.

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.

Preparation of consolidated financial statements

The financial statements contain information about Socketfast Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transactions will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Stocks

Stocks are stated at the lower of the costs and estimated selling price less costs to complete and sell as follows: Goods for resale - purchase cost on a first in first out basis.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and seel is recognised as an impairment loss in profit and loss. Reversals of impairment losses are also recognised in the profit and loss.

Financial instruments

Basic financial liabilities, including trade and other debtors and creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts or payments discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing at the reporting end date. Gains and losses arising on translation in the period are included in profit and loss.

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.

Operating leases

Rentals payable under operating leases, including any lease incentives received are charged to profit and loss on a straight line basis over the term of the relevant lease except where a more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

Trade debtors

-

173,181

Amounts owed by group undertakings

6,902

-

Other debtors

-

81

6,902

173,262

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

Trade creditors

-

5,249

Amounts owed to group undertakings

14,624

233,663

Taxation and social security

-

5,609

Other creditors

-

2,928

14,624

247,449

6.	RELATED PARTY DISCLOSURES

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.