Registered number
07062328
Sote Limited
Abbreviated Accounts
29 February 2016
Sote Limited
Registered number: 07062328
Abbreviated Balance Sheet
as at 29 February 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 36,610 39,398
Current assets
Stocks 6,000 6,000
Debtors 7,125 7,125
Cash at bank and in hand 156,654 160,124
169,779 173,249
Creditors: amounts falling due within one year (178,809) (188,369)
Net current liabilities (9,030) (15,120)
Net assets 27,580 24,278
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 27,480 24,178
Shareholders' funds 27,580 24,278
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Ms Heidi Ballarati
Director
Approved by the board on 10 November 2016
Sote Limited
Notes to the Abbreviated Accounts
for the year ended 29 February 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Leasehold property over term of lease
Furniture, fittings and equipment 25% reducing balance method
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
2 Tangible fixed assets £
Cost
At 1 March 2015 67,131
Additions 5,272
At 29 February 2016 72,403
Depreciation
At 1 March 2015 27,733
Charge for the year 8,060
At 29 February 2016 35,793
Net book value
At 29 February 2016 36,610
At 28 February 2015 39,398
3 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
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