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REGISTERED NUMBER: 08550368 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

SIGMA PROJECTS (CONTROL PANELS) LIMITED

SIGMA PROJECTS (CONTROL PANELS) LIMITED (REGISTERED NUMBER: 08550368)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIGMA PROJECTS (CONTROL PANELS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: A R Higham





REGISTERED OFFICE: Unit J7 Swan Centre
4 Higher Swan Lane
Bolton
Lancashire
BL3 3AQ





REGISTERED NUMBER: 08550368 (England and Wales)





ACCOUNTANTS: P B Syddall & Co
Chartered Accountants
Grafton House
81 Chorley Old Road
Bolton
Lancashire
BL1 3AJ

SIGMA PROJECTS (CONTROL PANELS) LIMITED (REGISTERED NUMBER: 08550368)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 8,856 10,438
8,856 10,438

CURRENT ASSETS
Debtors 7 43,836 21,235
Cash at bank - 14,145
43,836 35,380
CREDITORS
Amounts falling due within one year 8 44,194 37,452
NET CURRENT LIABILITIES (358 ) (2,072 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,498

8,366

PROVISIONS FOR LIABILITIES 1,683 1,983
NET ASSETS 6,815 6,383

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 6,814 6,382
SHAREHOLDERS' FUNDS 6,815 6,383

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

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

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.

SIGMA PROJECTS (CONTROL PANELS) LIMITED (REGISTERED NUMBER: 08550368)

BALANCE SHEET - continued
31 MAY 2023


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

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 and authorised for issue on 22 February 2024 and were signed by:





A R Higham - Director


SIGMA PROJECTS (CONTROL PANELS) LIMITED (REGISTERED NUMBER: 08550368)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Sigma Projects (Control Panels) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Office equipment - 20% on reducing balance

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.

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.

SIGMA PROJECTS (CONTROL PANELS) LIMITED (REGISTERED NUMBER: 08550368)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 8,000
AMORTISATION
At 1 June 2022
and 31 May 2023 8,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

6. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 7,379 14,300 3,991 25,670
Additions - - 632 632
At 31 May 2023 7,379 14,300 4,623 26,302
DEPRECIATION
At 1 June 2022 5,245 6,978 3,009 15,232
Charge for year 427 1,464 323 2,214
At 31 May 2023 5,672 8,442 3,332 17,446
NET BOOK VALUE
At 31 May 2023 1,707 5,858 1,291 8,856
At 31 May 2022 2,134 7,322 982 10,438

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 27,555 7,643
Social security and other
taxes 10,609 8,741
VAT 5,672 4,851
43,836 21,235

SIGMA PROJECTS (CONTROL PANELS) LIMITED (REGISTERED NUMBER: 08550368)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 5,500 -
Hire purchase contracts 4,089 6,979
Trade creditors 5,093 1,711
Tax 2,711 3,664
Directors current account 25,251 21,998
Accrued expenses 1,550 3,100
44,194 37,452

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 (2022 - £15,000) were paid to the director .