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REGISTERED NUMBER: 10920480 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Legacy of Sid Ltd

Legacy of Sid Ltd (Registered number: 10920480)






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


Legacy of Sid Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: S M Thorp
Miss C A Harvey





REGISTERED OFFICE: 36a Churchgate Street
Bury St Edmunds
Suffolk
IP33 1RD





REGISTERED NUMBER: 10920480 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Legacy of Sid Ltd (Registered number: 10920480)

Abridged Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,717 3,066
Tangible assets 5 9,070 12,422
Investments 6 30,275 30,275
42,062 45,763

CURRENT ASSETS
Debtors 147,923 258,071
Cash at bank 248,482 166,838
396,405 424,909
CREDITORS
Amounts falling due within one year 83,205 126,120
NET CURRENT ASSETS 313,200 298,789
TOTAL ASSETS LESS CURRENT
LIABILITIES

355,262

344,552

PROVISIONS FOR LIABILITIES 2,267 2,360
NET ASSETS 352,995 342,192

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 352,895 342,092
SHAREHOLDERS' FUNDS 352,995 342,192

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.

Legacy of Sid Ltd (Registered number: 10920480)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2024 and were signed on its behalf by:





S M Thorp - Director


Legacy of Sid Ltd (Registered number: 10920480)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Legacy of Sid 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.

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.

Website & app design is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost and 20% on reducing balance

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.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


Legacy of Sid Ltd (Registered number: 10920480)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022
and 31 August 2023 3,491
AMORTISATION
At 1 September 2022 425
Amortisation for year 349
At 31 August 2023 774
NET BOOK VALUE

At 31 August 2023 2,717
At 31 August 2022 3,066

Legacy of Sid Ltd (Registered number: 10920480)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022 23,233
Additions 4,144
At 31 August 2023 27,377
DEPRECIATION
At 1 September 2022 10,811
Charge for year 7,496
At 31 August 2023 18,307
NET BOOK VALUE
At 31 August 2023 9,070
At 31 August 2022 12,422

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 September 2022
and 31 August 2023 30,275
NET BOOK VALUE
At 31 August 2023 30,275
At 31 August 2022 30,275

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
100 Ordinary £1 100 100