IRIS Accounts Production v23.3.1.45 06496780 Board of Directors 1.9.22 31.8.23 31.8.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh064967802022-08-31064967802023-08-31064967802022-09-012023-08-31064967802021-08-31064967802021-09-012022-08-31064967802022-08-3106496780ns10:Originalns15:EnglandWales2022-09-012023-08-3106496780ns14:PoundSterlingns10:Original2022-09-012023-08-3106496780ns10:Originalns10:Director12022-09-012023-08-3106496780ns10:Original2022-09-012023-08-3106496780ns10:Original2023-08-3106496780ns10:Originalns10:PrivateLimitedCompanyLtd2022-09-012023-08-3106496780ns10:Originalns10:SmallEntities2022-09-012023-08-3106496780ns10:Originalns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3106496780ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3106496780ns10:SmallCompaniesRegimeForAccountsns10:Original2022-09-012023-08-3106496780ns10:Originalns10:AbridgedAccounts2022-09-012023-08-3106496780ns10:Originalns10:Director22022-09-012023-08-3106496780ns10:Originalns10:Director32022-09-012023-08-3106496780ns10:Originalns10:RegisteredOffice2022-09-012023-08-3106496780ns10:Original2022-08-3106496780ns10:Originalns5:CurrentFinancialInstruments2023-08-3106496780ns10:Originalns5:CurrentFinancialInstruments2022-08-3106496780ns10:Originalns5:Non-currentFinancialInstruments2023-08-3106496780ns10:Originalns5:Non-currentFinancialInstruments2022-08-3106496780ns5:ShareCapitalns10:Original2023-08-3106496780ns5:ShareCapitalns10:Original2022-08-3106496780ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2023-08-3106496780ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2022-08-3106496780ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-08-3106496780ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-08-3106496780ns10:Originalns5:FurnitureFittings2022-09-012023-08-3106496780ns10:Originalns5:MotorVehicles2022-09-012023-08-3106496780ns10:Original2021-09-012022-08-3106496780ns10:Original2022-08-3106496780ns5:Securedns10:Original2023-08-3106496780ns5:Securedns10:Original2022-08-31
REGISTERED NUMBER: 06496780 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Sigeric Limited

Sigeric Limited (Registered number: 06496780)

Contents of the Financial Statements
for the year ended 31 August 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Sigeric Limited

Company Information
for the year ended 31 August 2023







Directors: S A Howell
A R Howell
T B M David





Registered office: Lloyd George House
Fordshill Road
Rotherwas Industrial Estate
Hereford
HR2 6NS





Registered number: 06496780 (England and Wales)





Accountants: Acre Accountancy Limited
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

Sigeric Limited (Registered number: 06496780)

Abridged Balance Sheet
31 August 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 587,328 377,012
Investment property 6 9,162,547 8,638,204
9,749,875 9,015,216

CURRENT ASSETS
Stocks 4,240 4,240
Debtors 171,094 117,697
Cash at bank and in hand 186,485 99,828
361,819 221,765
CREDITORS
Amounts falling due within one year (1,102,325 ) (1,234,631 )
NET CURRENT LIABILITIES (740,506 ) (1,012,866 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,009,369

8,002,350

CREDITORS
Amounts falling due after more than one year (3,941,284 ) (3,778,190 )

PROVISIONS FOR LIABILITIES (75,649 ) (11,300 )
NET ASSETS 4,992,436 4,212,860

CAPITAL AND RESERVES
Called up share capital 8 102 102
Capital Contribution 41,400 41,400
Retained earnings 4,950,934 4,171,358
4,992,436 4,212,860

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Sigeric Limited (Registered number: 06496780)

Abridged Balance Sheet - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by:





S A Howell - Director


Sigeric Limited (Registered number: 06496780)

Notes to the Financial Statements
for the year ended 31 August 2023


1. STATUTORY INFORMATION

Sigeric Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lloyd George House, Fordshill Road, Rotherwas Ind Estate, Hereford, Herefordshire, England, HR2 6NS.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for goods and services provided. Turnover represents amounts receivable for goods and services provided in the normal course of business, net of trade 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 each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on cost

Investment property
Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit arising from changes in fair value is recognised in profit and loss.

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 Profit and Loss Account, 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.


Sigeric Limited (Registered number: 06496780)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


3. 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement. They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 5 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
Cost
At 1 September 2022 1,502,084
Additions 355,400
At 31 August 2023 1,857,484
Depreciation
At 1 September 2022 1,125,072
Charge for year 145,084
At 31 August 2023 1,270,156
Net book value
At 31 August 2023 587,328
At 31 August 2022 377,012

Sigeric Limited (Registered number: 06496780)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


6. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 September 2022 8,638,204
Additions 524,343
At 31 August 2023 9,162,547
Net book value
At 31 August 2023 9,162,547
At 31 August 2022 8,638,204

The directors have reviewed the value of investment property as at 31 August 2023; in their opinion their open market value has not changed materially from original cost.

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 3,761,521 4,062,765

National Westminster Bank PLC has a first legal mortgage over freehold property and an unscheduled mortgage debenture incorporating a fixed and floating charge over all the current and future assets of the company.

8. CALLED UP SHARE CAPITAL

Allotted and issued: Class: Nominal
Number: value: £

34 Ordinary A shares £1 34
17 Ordinary B shares £1 17
34 Ordinary C shares £1 34
17 Ordinary D shares £1 17
102