SONATEX LIMITED
|
Registered number: |
08326878
|
Balance Sheet |
as at 31 December 2016
|
|
Notes |
|
|
2016 |
|
|
2015 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
1,007,334 |
|
|
840,049 |
|
Current assets |
Debtors |
3 |
|
9,368 |
|
|
3,178 |
Cash at bank and in hand |
|
|
18,774 |
|
|
22,582 |
|
|
|
28,142 |
|
|
25,760 |
|
Creditors: amounts falling due within one year |
4 |
|
(125,541) |
|
|
(55,979) |
|
Net current liabilities |
|
|
|
(97,399) |
|
|
(30,219) |
|
Total assets less current liabilities |
|
|
|
909,935 |
|
|
809,830 |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(906,205) |
|
|
(810,546) |
|
|
|
Net assets/(liabilities) |
|
|
|
3,730 |
|
|
(716) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
3,000 |
|
|
3,000 |
Profit and loss account |
|
|
|
730 |
|
|
(3,716) |
|
Shareholders' funds |
|
|
|
3,730 |
|
|
(716) |
|
|
|
|
|
|
|
|
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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
|
|
A S Kullar |
Director |
Approved by the board on 29 September 2017
|
|
SONATEX LIMITED
|
Notes to the Accounts |
for the year ended 31 December 2016
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
Turnover |
|
Turnover represents the amount received for rent charged during the year, |
|
exclusive of VAT. |
|
|
Investment properties |
|
In accordance with the Financial Reporting Standard for Smaller Entities |
|
(effective January 2015) no depreciation is provided in respect of freehold |
|
properties held as investments. This is a departure from the requirements of the |
|
Companies Act 2006 which requires all properties to be depreciated. Such |
|
properties are held for investment and not for consumption and the directors |
|
consider that to depreciate them would not give a true and fair view. Depreciation |
|
is only one of the many elements reflected in the annual valuation of properties |
|
and accordingly the amount of depreciation which might otherwise have been |
|
charged cannot be seperately identified or quantified. The directors consider |
|
that this policy results in the accounts giving a true and fair view. |
|
|
Taxation |
|
Taxation is based on the profit for the year on ordinary activities as shown in |
|
accounts. |
|
|
|
|
2 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Investment properties |
£ |
|
Cost |
|
At 1 January 2016 |
840,049 |
|
Additions |
167,285 |
|
At 31 December 2016 |
1,007,334 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2016 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2016 |
1,007,334 |
|
At 31 December 2015 |
840,049 |
|
|
|
|
|
|
|
|
|
|
The value of the investment properties which has been included at the cost in 2016, |
|
has been considered by the directors. The directors believe this to be an appropriate |
|
value due to the current state of the rental market in the area where the properties |
|
are situated. |
|
3 |
Debtors |
2016 |
|
2015 |
£ |
£ |
|
|
Trade debtors |
7,911 |
|
2,998 |
|
Other debtors |
1,457 |
|
180 |
|
|
|
|
|
|
9,368 |
|
3,178 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
£ |
£ |
|
|
Bank loans and overdrafts |
9,650 |
|
8,697 |
|
Trade creditors |
111,657 |
|
42,383 |
|
Corporation tax |
208 |
|
- |
|
Other creditors |
4,026 |
|
4,899 |
|
|
|
|
|
|
125,541 |
|
55,979 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2016 |
|
2015 |
£ |
£ |
|
|
Bank loans |
267,525 |
|
277,417 |
|
Shareholders' and directors' loans |
638,680 |
|
533,129 |
|
|
|
|
|
|
906,205 |
|
810,546 |
|
|
|
|
|
|
|
|
|
|
6 |
Loans |
2016 |
|
2015 |
£ |
£ |
|
Creditors include: |
|
Bank loan instalments falling due after more than five years |
228,925 |
|
242,627 |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
277,175 |
|
286,114 |
|
|
|
|
|
|
|
|
|
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The bank loan is secured by a charges over the freehold investment properties owned by
|
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the company. |
|
7 |
Other information |
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SONATEX LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
128 A Evington Road |
|
Leicester |
|
LE2 1HL |