Caseware UK (AP4) 2022.0.179 2022.0.179 2024-02-292024-02-29The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalse2023-03-011No description of principal activity1false 12481475 2023-03-01 2024-02-29 12481475 2022-03-01 2023-02-28 12481475 2024-02-29 12481475 2023-02-28 12481475 c:Director1 2023-03-01 2024-02-29 12481475 d:CurrentFinancialInstruments 2024-02-29 12481475 d:CurrentFinancialInstruments 2023-02-28 12481475 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 12481475 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12481475 d:ShareCapital 2024-02-29 12481475 d:ShareCapital 2023-02-28 12481475 d:RetainedEarningsAccumulatedLosses 2024-02-29 12481475 d:RetainedEarningsAccumulatedLosses 2023-02-28 12481475 c:FRS102 2023-03-01 2024-02-29 12481475 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12481475 c:FullAccounts 2023-03-01 2024-02-29 12481475 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12481475 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 12481475










SIBCON SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
SIBCON SERVICES LIMITED
REGISTERED NUMBER: 12481475

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
281
-

Cash at bank and in hand
 5 
6,840
9,852

  
7,121
9,852

Creditors: amounts falling due within one year
 6 
(1,480)
(2,013)

Net current assets
  
 
 
5,641
 
 
7,839

Total assets less current liabilities
  
5,641
7,839

  

Net assets
  
5,641
7,839


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
5,640
7,838

  
5,641
7,839


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 March 2024.




S K Smith
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
SIBCON SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Going concern

The company ceased trading on 28th February 2023 and therefore is no longer a going concern.

 
1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
1.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 2

 
SIBCON SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.Accounting policies (continued)

 
1.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
1.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


General information

Sibcon Services Limited is a private limited company incorporated in England and Wales. The Registered Office is 8 High Street Green, Sible Hedingham, Halstead, Essex CO9 3LH.

Page 3

 
SIBCON SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
281
-

281
-



5.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
6,840
9,852

6,840
9,852



6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Corporation tax
-
1,113

Other creditors
1,000
-

Accruals and deferred income
480
900

1,480
2,013



7.


Related party transactions

During the period, dividends of £1,000 (2023 £15,210) were paid to the director.


Page 4