Sortology Limited - Accounts to registrar (filleted) - small 18.2
Sortology Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 June 2019 |
| for |
| Sortology Limited |
| Sortology Limited (Registered number: 07657418) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 8 |
| Sortology Limited |
| Company Information |
| for the Year Ended 30 June 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants and Business Advisers |
| Scotswood House |
| Teesdale South |
| Thornaby Place |
| Stockton on Tees |
| TS17 6SB |
| Sortology Limited (Registered number: 07657418) |
| Balance Sheet |
| 30 June 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Revaluation reserve | 10 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| Sortology Limited (Registered number: 07657418) |
| Balance Sheet - continued |
| 30 June 2019 |
| 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 on |
| Sortology Limited (Registered number: 07657418) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2019 |
| 1. | STATUTORY INFORMATION |
| Sortology Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| GOING CONCERN |
| The potential effects of the Coronavirus outbreak in late 2019 to early 2020 are currently unknown, both in terms of |
| the direct impact on the company and indirect impact on the wider UK/world economy. The director is continuously |
| revising the company's business continuity plans to take account of the UK government's ongoing announcements. In |
| light of the assistance the UK government has announced for UK businesses in March 2020, the director considers |
| that it is appropriate to prepare the financial statements on a going concern basis. |
| 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 the cost of each asset, less any estimated |
| residual value, over its estimated useful life, or if held under a finance lease, over the lease term, whichever is the |
| shorter. |
| Plant and machinery | - | 10% on reducing balance or 4% straight line |
| Computer equipment | - | 25% on reducing balance |
| Plant and machinery in the commissioning period are depreciated at reduced rates of upto 4% straight line. |
| STOCKS |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| 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. |
| Sortology Limited (Registered number: 07657418) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| RESEARCH AND DEVELOPMENT |
| Expenditure on research and development is written off in the year in which it is incurred. |
| FOREIGN CURRENCIES |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance |
| sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of |
| transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| FACTORING |
| The company has a factoring facility in place for certain trade debtors. The gross amount of factored debts is |
| included in trade debtors, with the proceeds received from the factor being included in creditors: amounts falling due |
| within one year. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Sortology Limited (Registered number: 07657418) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2019 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2018 |
| Disposals | ( |
) | ( |
) |
| At 30 June 2019 |
| DEPRECIATION |
| At 1 July 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2019 |
| NET BOOK VALUE |
| At 30 June 2019 |
| At 30 June 2018 |
| 5. | DEBTORS |
| 2019 | 2018 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Sortology Limited (Registered number: 07657418) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2019 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Amounts owed to group undertakings |
| Other creditors |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Other creditors | 97,732 | 100,156 |
| 97,732 | 100,156 |
| Other creditors are secured by a debenture dated 19 February 2016 and a chattel mortgage dated 21 June 2018. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 150,000 | 150,000 |
| 10. | RESERVES |
| Revaluations of property, plant and equipment (including those arising under paragraph 35.10(c) of FRS 102 on |
| transition) are recorded in the revaluation reserve - any amount equivalent to excess depreciation is then transferred |
| to retained earnings each year. |
| 11. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of the exemption contained within FRS 102 paragraph 1AC.35 not to disclose |
| transactions with other 100% group companies. |
| Furthermore, the directors consider that there are no other transactions that require disclosure pursuant to paragraph |
| 1AC.35 of FRS 102 for either the year ended 30 June 2019 or the year ended 30 June 2018. |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| Sortology Limited |
| The following reproduces the text of the report prepared for the director in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a |
| Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
| Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
| statements of Sortology Limited for the year ended 30 June 2019 which comprise the Income Statement, Balance Sheet and |
| the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Sortology Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sortology Limited and state those matters that we have agreed to state to the director of Sortology Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sortology Limited and its director for our work or for this report. |
| It is your duty to ensure that Sortology Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sortology Limited. You consider that Sortology Limited 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 financial statements of Sortology Limited. 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 financial statements. |
| Chartered Accountants and Business Advisers |
| Scotswood House |
| Teesdale South |
| Thornaby Place |
| Stockton on Tees |
| TS17 6SB |