REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
for |
Sion Developments Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
for |
Sion Developments Ltd |
Sion Developments Ltd (Registered number: 05010426) |
Contents of the Financial Statements |
for the Year Ended 28 February 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Sion Developments Ltd |
Company Information |
for the Year Ended 28 February 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
69 High Street |
Bideford |
Devon |
EX39 2AT |
Sion Developments Ltd (Registered number: 05010426) |
Abridged Balance Sheet |
28 February 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
Sion Developments Ltd (Registered number: 05010426) |
Abridged Balance Sheet - continued |
28 February 2023 |
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 |
Sion Developments Ltd (Registered number: 05010426) |
Notes to the Financial Statements |
for the Year Ended 28 February 2023 |
1. | STATUTORY INFORMATION |
Sion Developments Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company ceased trading at the balance sheet date. The financial statements have not, therefore, been prepared on a going concern basis. Accordingly, full provision has been made in these accounts for all known liabilities and anticipated losses on realisation of assets. This is in accordance with the provisions of FRS 102 Section 1A small entities and the Companies Act 2006. |
Tangible fixed assets |
Computer equipment | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
Financial instruments |
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. |
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. |
Sion Developments Ltd (Registered number: 05010426) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
3. | 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. |
The company discloses as exceptional items material items which derive from events or transactions that fall within the ordinary activities of the reporting entity and which individually, or, if of a similar type, in aggregate, it is considered need to be disclosed by virtue of their size or incidence if the financial statements are to give a true and fair view. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 March 2022 |
Disposals | ( |
) |
At 28 February 2023 |
DEPRECIATION |
At 1 March 2022 |
Eliminated on disposal | ( |
) |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
6. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Sion Developments Ltd (Registered number: 05010426) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
8. | CONTINGENT LIABILITIES |
This company has given an unlimited guarantee in respect of the bank borrowings of Ashlar Group Ltd. At the balance sheet date there was £nil borrowing. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Ashlar Group Ltd. |
The ultimate controlling party is Mr J C G Dellow and Mr R H Sawyer. |
10. | GOING CONCERN |
The company ceased trading on 28 February 2023. Consequently all assets and liabilities have been written down to their realisable values. |