Soho Building & Maintenance Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09438455 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SOHO BUILDING & MAINTENANCE LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M W Hicks

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

09438455 (England and Wales)

ACCOUNTANTS:

Raffingers LLP

Chartered Certified Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Tangible assets

4

20,176

324

CURRENT ASSETS

Debtors

36,661

14,226

Cash at bank and in hand

70,306

82,069

106,967

96,295

CREDITORS

Amounts falling due within one year

49,456

36,595

NET CURRENT ASSETS

57,511

59,700

TOTAL ASSETS LESS CURRENT LIABILITIES

77,687

60,024

CREDITORS

Amounts falling due after more than one year

23,352

33,019

NET ASSETS

54,335

27,005

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

54,333

27,003

SHAREHOLDERS' FUNDS

54,335

27,005

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 May 2024 and were signed by:

Mr M W Hicks - Director

1.	STATUTORY INFORMATION

Soho Building & Maintenance Ltd 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.

The accounts have been prepared on the going concern basis as the director is of the opinion that the company will meet its liabilities as and when due, due to the continued support of the director.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Government grants

Government grants

Government grants, including non-monetary grants shall not be recognised until there is reasonable assurance that:

(a) the entity will comply with the conditions attaching to them; and

(b) the grants will be received.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2022

1,323

Additions

24,895

At 28 February 2023

26,218

DEPRECIATION

At 1 March 2022

999

Charge for year

5,043

At 28 February 2023

6,042

NET BOOK VALUE

At 28 February 2023

20,176

At 28 February 2022

324

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

Additions

24,895

At 28 February 2023

24,895

DEPRECIATION

Charge for year

4,979

At 28 February 2023

4,979

NET BOOK VALUE

At 28 February 2023

19,916

5.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

17,196

-

HP loan is secured over the vehicle held by company.

6.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £10,420 (2022: £8,083) to the director, Mr M W Hicks.