Sovereign Strategy Limited - Accounts to registrar (filleted) - small 18.2
Sovereign Strategy Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2018 |
| for |
| Sovereign Strategy Limited |
| Sovereign Strategy Limited (Registered number: 03820426) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Sovereign Strategy Limited |
| Company Information |
| for the Year Ended 31 March 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| and Business Advisers |
| Coburg House |
| 1 Coburg Street |
| Gateshead |
| Tyne & Wear |
| NE8 1NS |
| Sovereign Strategy Limited (Registered number: 03820426) |
| Balance Sheet |
| 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| 5,628 | 7,503 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| Sovereign Strategy Limited (Registered number: 03820426) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Sovereign Strategy Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents amounts |
| receivable for providing management consultancy services, stated net of discounts and of value added tax. |
| The company recognises revenue when the amount of revenue can be measured reliably and when it is |
| probable that future economic benefits will flow to the company. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment |
| losses. |
| Impairment of assets |
| At each reporting date fixed assets are reviewed to determine whether there is any indication that those |
| assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable |
| amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable |
| amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss |
| is recognised immediately in profit and loss. |
| If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised |
| estimate of its recoverable amount, but not in excess of the amount that would have been determined had no |
| impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised |
| immediately in profit and loss. |
| Taxation |
| A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A |
| current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a |
| previous period. |
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses |
| in the financial statements and their inclusion in tax assessments. |
| 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 and 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. |
| Current and deferred tax assets and liabilities are not discounted. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's |
| pension scheme are charged to profit or loss in the period to which they relate. |
| Sovereign Strategy Limited (Registered number: 03820426) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 3. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial |
| assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third |
| parties, loans to related parties and investments on non-puttable ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting |
| period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss |
| is recognised in profit or loss. |
| Employee benefits |
| Short term employee benefits are recognised as an expense in the period in which they are incurred. |
| Leasing |
| Rentals payable under operating leases are charged to profit or loss on a straight line basis over the term. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2017 |
| and 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans |
| Sovereign Strategy Limited (Registered number: 03820426) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2018 and |
| 31 March 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Loans are interest free unsecured and repayable on demand. |