Company Registration No. 08944490 (England and Wales)
SOVEREIGN SAFE DEPOSIT CENTRES LTD
Unaudited accounts
for the year ended 31 July 2021
SOVEREIGN SAFE DEPOSIT CENTRES LTD
Unaudited accounts
Contents
SOVEREIGN SAFE DEPOSIT CENTRES LTD
Company Information
for the year ended 31 July 2021
Company Number
08944490 (England and Wales)
Registered Office
THE VAULT, KINFAUNS HOUSE
51-53 GOODMAYES ROAD
ILFORD
ESSEX
IG3 9UF
ENGLAND
Accountants
SQK Accountancy Limited
275 Deansgate
Manchester
North West England
M3 4EL
SOVEREIGN SAFE DEPOSIT CENTRES LTD
Accountants' report
Accountants' report to the director of SOVEREIGN SAFE DEPOSIT CENTRES LTD on the preparation of the unaudited statutory accounts for the year ended 31 July 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
SOVEREIGN SAFE DEPOSIT CENTRES LTD for the year ended
31 July 2021 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of SOVEREIGN SAFE DEPOSIT CENTRES LTD, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of SOVEREIGN SAFE DEPOSIT CENTRES LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SOVEREIGN SAFE DEPOSIT CENTRES LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that SOVEREIGN SAFE DEPOSIT CENTRES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SOVEREIGN SAFE DEPOSIT CENTRES LTD. You consider that SOVEREIGN SAFE DEPOSIT CENTRES LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of SOVEREIGN SAFE DEPOSIT CENTRES LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
SQK Accountancy Limited
275 Deansgate
Manchester
North West England
M3 4EL
12 April 2022
SOVEREIGN SAFE DEPOSIT CENTRES LTD
Statement of financial position
as at
31 July 2021
Tangible assets
49,786
39,476
Cash at bank and in hand
276,677
388,436
Creditors: amounts falling due within one year
(372,841)
(650,323)
Net current liabilities
(81,579)
(249,974)
Total assets less current liabilities
(31,793)
(210,498)
Creditors: amounts falling due after more than one year
(50,000)
-
Net liabilities
(81,793)
(210,498)
Called up share capital
100
100
Profit and loss account
(81,893)
(210,598)
Shareholders' funds
(81,793)
(210,498)
For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 April 2022 and were signed on its behalf by
Mr S. Patel
Director
Company Registration No. 08944490
SOVEREIGN SAFE DEPOSIT CENTRES LTD
Notes to the Accounts
for the year ended 31 July 2021
SOVEREIGN SAFE DEPOSIT CENTRES LTD is a private company, limited by shares, registered in England and Wales, registration number 08944490. The registered office is THE VAULT, KINFAUNS HOUSE, 51-53 GOODMAYES ROAD, ILFORD, ESSEX, IG3 9UF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight line and 10% Straight line
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
Charge for the year
11,841
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
13,491
11,913
SOVEREIGN SAFE DEPOSIT CENTRES LTD
Notes to the Accounts
for the year ended 31 July 2021
6
Creditors: amounts falling due within one year
2021
2020
Taxes and social security
16,316
27,647
Other creditors
168,601
152,201
Loans from directors
187,224
469,775
7
Creditors: amounts falling due after more than one year
2021
2020
8
Average number of employees
During the year the average number of employees was 3 (2020: 4).