Soulmine Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05462504 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2019

for

Soulmine Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D J Mead

SECRETARY:

D J Mead

REGISTERED OFFICE:

3 High street,

Aldershot,

Hampshire

GU11 1BH

REGISTERED NUMBER:

05462504 (England and Wales)

ACCOUNTANTS:

Gilroy & Brookes Accountants Ltd

Suite 15

The Enterprise Centre

Coxbridge Business Park

Farnham

Surrey

GU10 5EH

CURRENT ASSETS

Stocks

5

1,500

4,000

Debtors

6

34,140

32,625

Cash at bank and in hand

7,213

6,830

42,853

43,455

CREDITORS

Amounts falling due within one year

7

(33,267

)

(43,017

)

NET CURRENT ASSETS

9,586

438

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,586

438

CAPITAL AND RESERVES

Called up share capital

8

1

Retained earnings

9

9,585

437

SHAREHOLDERS' FUNDS

9,586

438

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2020 and were signed by:

D J Mead - Director

1.	STATUTORY INFORMATION

Soulmine 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.

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.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

STOCKS

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

TAXATION

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

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 December 2018

and 30 November 2019

911

DEPRECIATION

At 1 December 2018

and 30 November 2019

911

NET BOOK VALUE

At 30 November 2019

-

At 30 November 2018

-

5.

STOCKS

2019

2018

£

Stocks

1,500

4,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Trade debtors

910

165

Inter company - Beating Rhythm

33,230

31,659

Deferred tax asset

Tax losses carried forward

-

585

Prepayments

-

216

34,140

32,625

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Trade creditors

13,196

17,440

Tax

2,753

673

VAT

2,640

2,333

Inter Company Account - Soul by Auction

8,675

Directors' current accounts

238

9,496

Accruals and deferred income

5,765

4,400

33,267

43,017

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

1

Ordinary shares

1

9.

RESERVES

Retained

earnings

£

At 1 December 2018

437

Profit for the year

11,148

Dividends

(2,000

)

At 30 November 2019

9,585

10.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed to the director a sum of £238 (2018 - £9,496).

Beating Rhythm Manchester Limited

D J Mead is also a director and 100% shareholder of Beating Rhythm Manchester Limited which, at the balance sheet owes £33,230 to Soulmine Limited.

Soul By Action Limited

£8,675 is payable to Soul By Action Limited at the balance sheet date, by Soulmine Limited, in which D J Mead is a sole director and also the 100% shareholder.

11.	ULTIMATE CONTROLLING PARTY

The Company is under the control of D J Mead who owns 100% of the issued share capital of the company and is also the sole director of the company.

12.	POST BALANCE SHEET EVENTS

Since the year end, the Coronavirus (COVID-19) has emerged globally resulting in a significant impact on businesses worldwide. As a result some business operations have been restricted, however the company continues to operate using alternative methods and remote working. The directors are unable to evaluate the overall financial impact on the business at present. Hence financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act to the current changing

environment in order to position the company to ensure its future success.

Soulmine Limited - Accounts to registrar (filleted) - small 18.2

Soulmine Limited - Accounts to registrar (filleted) - small 18.2