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COMPANY REGISTRATION NUMBER: 5657010
Sigma Management Ltd
Filleted Unaudited Financial Statements
31 December 2021
Sigma Management Ltd
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
Current assets
Debtors
5
20,121
15,042
Cash at bank and in hand
68,870
53,929
--------
--------
88,991
68,971
Creditors: amounts falling due within one year
7
68,186
44,933
--------
--------
Net current assets
20,805
24,038
--------
--------
Total assets less current liabilities
20,805
24,038
--------
--------
Net assets
20,805
24,038
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
20,804
24,037
--------
--------
Shareholders funds
20,805
24,038
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 February 2022 , and are signed on behalf of the board by:
Mr. C.M. Hough
Director
Company registration number: 5657010
Sigma Management Ltd
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sigma House, 6 Garden Street, Tunbridge Wells, Kent, TN1 2XB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2020: 3 ).
5. Debtors
2021
2020
£
£
Trade debtors
20,079
15,000
Other debtors
42
42
--------
--------
20,121
15,042
--------
--------
6. Client's cash at bank
Included in cash at bank is £53,698 (2020 - £26,848) held on trust for clients.
7. Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
2,760
4,081
Other creditors
65,426
40,852
--------
--------
68,186
44,933
--------
--------
Included in other creditors is £53,698 (2020 - £26,848) due to clients and held on trust in cash at bank.
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2021
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr. C.M. Hough
( 12,706)
3,176
( 9,530)
--------
----
-------
-------
2020
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr. C.M. Hough
( 3,363)
( 10,000)
657
( 12,706)
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--------
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