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COMPANY REGISTRATION NUMBER: 10443350
SIAMAX SOLUTIONS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 January 2022
SIAMAX SOLUTIONS LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2022
2022
2021
Note
£
£
£
Fixed assets
Tangible assets
4
3,580
Investments
5
6,302
6,302
-------
-------
9,882
6,302
Current assets
Debtors
6
40,097
53,507
Cash at bank and in hand
40,379
42,355
---------
---------
80,476
95,862
Creditors: amounts falling due within one year
7
( 86,538)
( 101,885)
---------
----------
Net current liabilities
( 6,062)
( 6,023)
-------
-------
Total assets less current liabilities
3,820
279
-------
----
Net assets
3,820
279
-------
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
3,720
179
-------
----
Shareholders funds
3,820
279
-------
----
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 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SIAMAX SOLUTIONS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2022
These financial statements were approved by the board of directors and authorised for issue on 18 August 2022 , and are signed on behalf of the board by:
Mr M Eggert-Hobbs
Director
Company registration number: 10443350
SIAMAX SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kingfisher House, Hurstwood Grange, Hurstwood Lane, Haywards Heath, RH17 7QX.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Motor vehicles
£
Cost
At 1 February 2021
Additions
4,475
-------
At 31 January 2022
4,475
-------
Depreciation
At 1 February 2021
Charge for the year
895
-------
At 31 January 2022
895
-------
Carrying amount
At 31 January 2022
3,580
-------
At 31 January 2021
-------
5. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 1 February 2021 and 31 January 2022
302
6,000
6,302
----
-------
-------
Impairment
At 1 February 2021 and 31 January 2022
----
-------
-------
Carrying amount
At 31 January 2022
302
6,000
6,302
----
-------
-------
At 31 January 2021
302
6,000
6,302
----
-------
-------
6. Debtors
2022
2021
£
£
Trade debtors
31,906
29,085
Amounts owed by group undertakings and undertakings in which the company has a participating interest
3,104
19,340
Other debtors
5,087
5,082
---------
---------
40,097
53,507
---------
---------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
1,400
237
Amounts owed to group undertakings and undertakings in which the company has a participating interest
10,702
27,138
Corporation tax
978
Social security and other taxes
4,944
4,665
Other creditors
40,060
40,060
Other creditors
28,454
29,785
---------
----------
86,538
101,885
---------
----------
8. Director's advances, credits and guarantees
No transactions with directors were undertaken such as are required to be disclosed under FRS102 section 1A