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REGISTERED NUMBER: 13174424 (England and Wales)










Sigma Labs Xyz Ltd

Unaudited Financial Statements

for the Period 1 March 2023 to 31 December 2023






Sigma Labs Xyz Ltd (Registered number: 13174424)






Contents of the Financial Statements
for the period 1 March 2023 to 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sigma Labs Xyz Ltd

Company Information
for the period 1 March 2023 to 31 December 2023







DIRECTOR: Mr R H Lewis Jones





REGISTERED OFFICE: 20-22 Wenlock Road
London
N1 7GU





REGISTERED NUMBER: 13174424 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Sigma Labs Xyz Ltd (Registered number: 13174424)

Balance Sheet
31 December 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,952 4,829

CURRENT ASSETS
Debtors 5 1,032,105 629,991
Cash at bank 2,915,521 559,588
3,947,626 1,189,579
CREDITORS
Amounts falling due within one year 6 443,503 266,748
NET CURRENT ASSETS 3,504,123 922,831
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,526,075

927,660

CAPITAL AND RESERVES
Called up share capital 172 145
Share premium 4,982,151 1,870,833
Retained earnings (1,456,248 ) (943,318 )
3,526,075 927,660

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

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 7 March 2024 and were signed by:





Mr R H Lewis Jones - Director


Sigma Labs Xyz Ltd (Registered number: 13174424)

Notes to the Financial Statements
for the period 1 March 2023 to 31 December 2023

1. STATUTORY INFORMATION

Sigma Labs Xyz Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amount in these financial statements are rounded to the nearest £ GBP.

The financial statements have been prepared on a going concern basis, which assumes adequate resources will be available for a period of at least twelve months following approval of the financial statements. In performing their assessment, the Directors have considered the future financial plans of the Company, including cashflow and profit forecasts. Sensitivities have been applied to the forecasts by management and the directors have assessed that based on their projections for the twelve months following the approval of these financial statements, the Company has sufficient resources to continue as a going concern.

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 each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Taxation
Taxation for the period 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 period 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.


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.

Sigma Labs Xyz Ltd (Registered number: 13174424)

Notes to the Financial Statements - continued
for the period 1 March 2023 to 31 December 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost.

Provisions for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 61 (2023 - 33 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 11,609
Additions 22,084
At 31 December 2023 33,693
DEPRECIATION
At 1 March 2023 6,780
Charge for period 4,961
At 31 December 2023 11,741
NET BOOK VALUE
At 31 December 2023 21,952
At 28 February 2023 4,829

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 954,729 558,145
Other debtors 77,376 71,846
1,032,105 629,991

Sigma Labs Xyz Ltd (Registered number: 13174424)

Notes to the Financial Statements - continued
for the period 1 March 2023 to 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade creditors 115,706 110,852
Taxation and social security 224,593 126,760
Other creditors 103,204 29,136
443,503 266,748

Included within other creditors is an amount of £6,496 (February 2023: £6,460) loaned to the company by the director. No interest is charged and there are no defined repayment terms. Full payment was made post year end.

7. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R H Lewis Jones.