Sovereign Equity Holdings Limited - Accounts

SOVEREIGN EQUITY HOLDINGS LIMITED - Company Information

2021-04-01 2022-03-31 false Capium Accounts Production 1.1 08338782 bus:AbridgedAccounts 2021-04-01 2022-03-31 08338782 bus:FRS102 2021-04-01 2022-03-31 08338782 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 08338782 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 08338782 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 08338782 2021-04-01 2022-03-31 08338782 2022-03-31 08338782 bus:RegisteredOffice 2021-04-01 2022-03-31 08338782 core:WithinOneYear 2022-03-31 08338782 core:AfterOneYear 2022-03-31 08338782 bus:Director1 2021-04-01 2022-03-31 08338782 bus:Director1 2022-03-31 08338782 bus:Director1 2020-04-01 2021-03-31 08338782 bus:Director2 2021-04-01 2022-03-31 08338782 bus:Director2 2022-03-31 08338782 bus:Director2 2020-04-01 2021-03-31 08338782 bus:Director3 2021-04-01 2022-03-31 08338782 bus:Director3 2022-03-31 08338782 bus:Director3 2020-04-01 2021-03-31 08338782 2020-04-01 08338782 bus:CompanySecretary1 2021-04-01 2022-03-31 08338782 bus:LeadAgentIfApplicable 2021-04-01 2022-03-31 08338782 2020-04-01 2021-03-31 08338782 2021-03-31 08338782 core:WithinOneYear 2021-03-31 08338782 core:AfterOneYear 2021-03-31 08338782 bus:EntityAccountantsOrAuditors 2020-04-01 2021-03-31 08338782 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 08338782 bus:OrdinaryShareClass1 2022-03-31 08338782 bus:OrdinaryShareClass1 2020-04-01 2021-03-31 08338782 bus:OrdinaryShareClass1 2021-03-31 08338782 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 08338782 core:CostValuation core:Non-currentFinancialInstruments 2021-03-31 08338782 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2022-03-31 08338782 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2022-03-31 08338782 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2022-03-31 08338782 core:Non-currentFinancialInstruments 2022-03-31 08338782 core:Non-currentFinancialInstruments 2021-03-31 08338782 core:ShareCapital 2022-03-31 08338782 core:ShareCapital 2021-03-31 08338782 core:RetainedEarningsAccumulatedLosses 2022-03-31 08338782 core:RetainedEarningsAccumulatedLosses 2021-03-31 08338782 dpl:Item1 2021-04-01 08338782 dpl:Item1 2022-03-31 08338782 dpl:Item1 2020-04-01 08338782 dpl:Item1 2021-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered Number: 08338782

England and Wales

SOVEREIGN EQUITY HOLDINGS LIMITED

Abridged Accounts

Period of accounts

Start date: 01 April 2021

End date: 31 March 2022

Sovereign Equity Holdings Limited
Contents Page
For the year ended 31 March 2022

Accountants' report	1
Statement of financial position	2
Notes to the financial statements	3

Sovereign Equity Holdings Limited Accountants' Report For the year ended 31 March 2022
Accountants report You consider that the company is exempt from an audit for the year ended 31 March 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. T & K Accounting Group 31 March 2022 .................................................... T & K Accounting Group 69 Banstead Road Carshalton SM5 3NP 30 March 2023 1

Sovereign Equity Holdings Limited
Accountants' Report
For the year ended 31 March 2022

Accountants report

You consider that the company is exempt from an audit for the year ended 31 March 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

T & K Accounting Group
31 March 2022

....................................................
T & K Accounting Group
69 Banstead Road
Carshalton
SM5 3NP
30 March 2023

Sovereign Equity Holdings Limited
Statement of Financial Position
As at 31 March 2022

	2022 £	2021 £
Fixed assets
Investments	1,160,233	1,160,233
	1,160,233	1,160,233
Current assets
Debtors: amounts falling due within one year	1,237,435	1,187,435
Cash at bank and in hand	3,085	8,135
	1,240,520	1,195,570
Creditors: amount falling due within one year	(19,259,468)	(19,737,975)
Net current liabilities	(18,018,948)	(18,542,405)

Total assets less current liabilities	(16,858,715)	(17,382,172)
Net liabilities	(16,858,715)	(17,382,172)

Capital and reserves
Called up share capital	999	999
Profit and loss account	(16,859,714)	(17,383,171)
Shareholder's funds	(16,858,715)	(17,382,172)

For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the board of directors on 30 March 2023 and were signed on its behalf by:

--------------------------------
Mr Parminder Singh Dosanjh
Director

Sovereign Equity Holdings Limited
Notes to the Abridged Financial Statements
For the year ended 31 March 2022

General Information

Sovereign Equity Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 08338782, registration address Monarch House, 7-9 Stafford Road, Wallington, Surrey, SM6 9AN.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Going concern basis

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Dividends

Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Fixed asset investments

Fixed asset investments are stated at cost less provision for any permanent diminution in value.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.	Average number of employees Average number of employees during the year was 0 (2021 : 0).

Investments

Cost	Other investments other than loans	Total
	£	£
At 01 April 2021	1,160,233	1,160,233
Additions	-	-
Transfer to/from Tangible fixed assets	0	0
Disposals	-	-
At 31 March 2022	1,160,233	1,160,233

Share Capital

Authorised
999 Class A shares of £1.00 each

Allotted, called up and fully paid	2022 £		2021 £
999 Class A shares of £1.00 each	999		999
	999		999

Related parties

During the year the company entered into the following transactions with related parties:

	Transaction value - income/(expenses)		Balance owed by/(owed to)
	2022 £	2021 £	2022 £	2021 £
Deboi Capital Ltd	0	(998,888)	998,888	998,888
Monarch Estates	0	(162,548)	162,548	162,548
PSA3 Limited	(50,000)	(25,000)	75,000	25,000
Majestic Securities Ltd	749,999	1,636,548	(16,271,266)	(17,021,265)
Monarch Partnership Ltd	50,000	249,750	(445,123)	(395,123)

Included within debtors due from Deboi Capital Ltd , a company in which some of the directors of Sovereign Equity Holdings Limited are directors.
Included within debtors due from Monarch Estates , a partnership in which some of the directors of Sovereign Equity Holdings Limited are partners.
Included within debtors due from PSA3 Limited , a company in which some of the directors of Sovereign Equity Holdings Limited are directors.
Included within creditors due to Majestic Securities Ltd , a company in which some of the directors of Sovereign Equity Holdings Limited are directors.
Included within creditors due to Monarch Partnership Ltd , a company in which some of the directors of Sovereign Equity Holdings Limited are directors.