IRIS Accounts Production v23.2.0.158 09062714 Board of Directors 1.6.22 31.5.23 31.5.23 0 0 false true false false false true false Ordinary 0.01000 Preference 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh090627142022-05-31090627142023-05-31090627142022-06-012023-05-31090627142021-05-31090627142021-06-012022-05-31090627142022-05-3109062714ns10:Originalns15:EnglandWales2022-06-012023-05-3109062714ns10:Originalns14:USDollar2022-06-012023-05-3109062714ns10:Originalns10:Director12022-06-012023-05-3109062714ns10:Original2022-06-012023-05-3109062714ns10:Original2023-05-3109062714ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3109062714ns10:Originalns10:SmallEntities2022-06-012023-05-3109062714ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3109062714ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3109062714ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3109062714ns10:Originalns10:FullAccounts2022-06-012023-05-3109062714ns10:Original2021-06-012022-05-3109062714ns10:Original12022-06-012023-05-3109062714ns10:Originalns10:OrdinaryShareClass12022-06-012023-05-3109062714ns10:Originalns10:OrdinaryShareClass22022-06-012023-05-3109062714ns10:Originalns10:Director22022-06-012023-05-3109062714ns10:Originalns10:RegisteredOffice2022-06-012023-05-3109062714ns10:Original2022-05-3109062714ns10:Originalns5:CurrentFinancialInstruments2023-05-3109062714ns10:Originalns5:CurrentFinancialInstruments2022-05-3109062714ns10:Originalns5:Non-currentFinancialInstruments2023-05-3109062714ns10:Originalns5:Non-currentFinancialInstruments2022-05-3109062714ns5:ShareCapitalns10:Original2023-05-3109062714ns5:ShareCapitalns10:Original2022-05-3109062714ns10:Originalns5:SharePremium2023-05-3109062714ns10:Originalns5:SharePremium2022-05-3109062714ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2023-05-3109062714ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2022-05-3109062714ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3109062714ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3109062714ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-06-012023-05-3109062714ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-05-3109062714ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-05-3109062714ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-05-3109062714ns10:Originalns5:PlantMachinery2022-05-3109062714ns10:Originalns5:PlantMachinery2023-05-3109062714ns10:Originalns5:CostValuation2022-05-3109062714ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3109062714ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3109062714ns10:Originalns10:OrdinaryShareClass12023-05-3109062714ns10:Originalns10:OrdinaryShareClass22023-05-31
REGISTERED NUMBER: 09062714 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

SEIDE LTD

SEIDE LTD (REGISTERED NUMBER: 09062714)






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


SEIDE LTD

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTORS: C Cappello
A Ismailov





REGISTERED OFFICE: Plantworks
1a Brittania Street
London
WC1X 9JT





REGISTERED NUMBER: 09062714 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

SEIDE LTD (REGISTERED NUMBER: 09062714)

BALANCE SHEET
31 May 2023

31.5.23 31.5.22
Notes $    $    $    $   
FIXED ASSETS
Intangible assets 4 71,381 73,213
Tangible assets 5 - -
Investments 6 345,766 345,766
417,147 418,979

CURRENT ASSETS
Debtors 7 50 50
Cash at bank 3,563 31,623
3,613 31,673
CREDITORS
Amounts falling due within one year 8 67,840 67,839
NET CURRENT LIABILITIES (64,227 ) (36,166 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

352,920

382,813

CREDITORS
Amounts falling due after more than one year 9 130,501 75,320
NET ASSETS 222,419 307,493

CAPITAL AND RESERVES
Called up share capital 10 129 129
Share premium 1,235,691 1,235,691
Other reserves 33,615 25,409
Retained earnings (1,047,016 ) (953,736 )
SHAREHOLDERS' FUNDS 222,419 307,493

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 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.

SEIDE LTD (REGISTERED NUMBER: 09062714)

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 Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:





C Cappello - Director


SEIDE LTD (REGISTERED NUMBER: 09062714)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Seide 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 accounts have been prepared under the going concern assumption. The Directors' are confident that the entity and its group's performance is improving and they are prepared to support the entity for a period of at least 12 months and 1 day from the date of signing the accounts, as it becomes required.

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.

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.

Computer software is being amortised over the estimate useful life of 5 years using reducing balance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment : 3 to 5 years straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS102.

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.


SEIDE LTD (REGISTERED NUMBER: 09062714)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

2. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into US dollars ($) at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US dollars ($) at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
$   
COST
At 1 June 2022
and 31 May 2023 105,067
AMORTISATION
At 1 June 2022 31,854
Charge for year 1,832
At 31 May 2023 33,686
NET BOOK VALUE
At 31 May 2023 71,381
At 31 May 2022 73,213

SEIDE LTD (REGISTERED NUMBER: 09062714)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
$   
COST
At 1 June 2022
and 31 May 2023 2,950
DEPRECIATION
At 1 June 2022
and 31 May 2023 2,950
NET BOOK VALUE
At 31 May 2023 -

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
$   
COST
At 1 June 2022
and 31 May 2023 345,766
NET BOOK VALUE
At 31 May 2023 345,766
At 31 May 2022 345,766

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
$    $   
Other debtors 50 50

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
$    $   
Trade creditors 2,040 2,039
Amounts owed to group undertakings 65,800 65,800
67,840 67,839

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
$    $   
Other creditors 130,501 75,320

SEIDE LTD (REGISTERED NUMBER: 09062714)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: $    $   
6,000 Ordinary 0.01 60 60
6,905 Preference 0.01 69 69
129 129

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.