Sovco Limited
Sovco Limited
Registered number: 07151433
Unaudited Financial Statements
For The Year Ended 31 March 2019
Sovco Limited
Unaudited Financial Statements
For The Year Ended 31 March 2019
Unaudited Financial Statements
Contents | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—5 |
Sovco Limited
Balance Sheet
As at
31 March 2019
Balance Sheet
Registered number:
07151433
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 2 |
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CURRENT ASSETS | |||||
Debtors | 3 |
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Investments | 4 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 5 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 6 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 860,856 | 1,187,383 | |||
Page 1
Sovco Limited
Balance Sheet (continued)
As at
31 March 2019
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Sovco Limited
Notes to the Financial Statements
For The Year Ended 31 March 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold |
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Plant & Machinery |
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1.4.
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit the reported profit because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.
Tangible Assets
Land & Property | |||
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Freehold | Plant & Machinery | Total | |
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Cost | |||
As at |
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As at |
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Depreciation | |||
As at |
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Provided during the period |
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As at |
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Net Book Value | |||
As at |
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As at |
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Page 3
Sovco Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
3.
Debtors
2019 | 2018 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Corporation tax recoverable |
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Due after more than one year | |||
Other debtors |
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4.
Current Asset Investments
2019 | 2018 | ||
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£ | £ | ||
Shares in subsidiaries |
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5.
Creditors: Amounts Falling Due Within One Year
2019 | 2018 | ||
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£ | £ | ||
Trade creditors |
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Corporation tax |
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VAT |
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Other creditors |
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Accruals and deferred income |
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Amounts owed to subsidiaries |
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7.
Related Party Transactions
In March 2019, a loan for £120,000 was made to Camfield Holdings Limited, the shares of which are owned by one of the directors and a related party. This amount was repaid in full in April 2019.
Page 4
Sovco Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
8.
Controlling Party
The company is owned in equal shares by two further companies each of which is under the control of the directors who together with related parties own 100% of the issued share capital those companies.
9.
General Information
Sovco Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07151433 . The registered office is Unit 2 Brookfield, Duncan Close, Moulton Park, Northampton, NN3 6WL.
Page 5