Soho Commercial Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06511339 (England and Wales)

Soho Commercial Limited

Unaudited Financial Statements for the Year Ended 31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S C P Owen

H A H Owen

Mrs S K Owen

Mrs C C Owen

SECRETARY:

S C P Owen

REGISTERED OFFICE:

2nd Floor Curzon House 24 High Street

Banstead

Surrey

SM7 2LJ

REGISTERED NUMBER:

06511339 (England and Wales)

ACCOUNTANTS:

Langdon West Williams PLC

Curzon House 2nd Floor

24 High Street

Banstead

Surrey

SM7 2LJ

FIXED ASSETS

Tangible assets

4

7,160

1,710

CURRENT ASSETS

Stocks

47,507

26,602

Debtors

5

176,884

82,767

Cash at bank

372,699

490,678

597,090

600,047

CREDITORS

Amounts falling due within one year

6

328,808

373,679

NET CURRENT ASSETS

268,282

226,368

TOTAL ASSETS LESS CURRENT LIABILITIES

275,442

228,078

PROVISIONS FOR LIABILITIES

1,360

325

NET ASSETS

274,082

227,753

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

273,982

227,653

SHAREHOLDERS' FUNDS

274,082

227,753

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 on 26 November 2019 and were signed on its behalf by:

S C P Owen - Director

1.	STATUTORY INFORMATION

Soho Commercial Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

These accounts have been prepared in accordance with applicable accounting standards.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 1, the directors are

required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities

that are not readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and knowledge of the business and other factors that are considered to be relevant.

Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised if the revision affects only that period,

or in the period of the revision and future period if the revision affects both current and future periods.

The key areas are summarised below:

Depreciation

The company exercises judgement to determine useful lives and residual values of tangible fixed assets. The

assets are depreciated down to their estimated residual values over their estimated useful lives.

Provision for trade debtors

Provisions have been made for potential trade debtors which will not be collected. This provision is an

estimate based on the company's understanding, knowledge and historic trends.

Stock

Provisions are made where necessary to ensure that stock is stated at the lower of cost and net realisable

value. This provision is an estimate based on the company's understanding of its future needs, knowledge and

historic trends.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

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

slow moving items.

Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at the

settlement value with the exception of bank loans which are subsequently measured at amortised cost using

the effective interest rate method.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2018

-

1,459

2,045

3,504

Additions

6,250

2,160

-

8,410

At 31 March 2019

6,250

3,619

2,045

11,914

DEPRECIATION

At 1 April 2018

-

476

1,318

1,794

Charge for year

1,563

905

492

2,960

At 31 March 2019

1,563

1,381

1,810

4,754

NET BOOK VALUE

At 31 March 2019

4,687

2,238

235

7,160

At 31 March 2018

-

983

727

1,710

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

168,118

79,934

Other debtors

8,766

2,833

176,884

82,767

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

217,958

300,947

Taxation and social security

108,498

63,103

Other creditors

2,352

9,629

328,808

373,679

7.	ULTIMATE CONTROLLING PARTY