Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31No description of principal activity2023-02-01trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false22true 10533895 2023-02-01 2024-01-31 10533895 2022-02-01 2023-01-31 10533895 2024-01-31 10533895 2023-01-31 10533895 c:Director1 2023-02-01 2024-01-31 10533895 d:MotorVehicles 2023-02-01 2024-01-31 10533895 d:MotorVehicles 2024-01-31 10533895 d:MotorVehicles 2023-01-31 10533895 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 10533895 d:FurnitureFittings 2023-02-01 2024-01-31 10533895 d:FurnitureFittings 2024-01-31 10533895 d:FurnitureFittings 2023-01-31 10533895 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 10533895 d:OfficeEquipment 2023-02-01 2024-01-31 10533895 d:OfficeEquipment 2024-01-31 10533895 d:OfficeEquipment 2023-01-31 10533895 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 10533895 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 10533895 d:CurrentFinancialInstruments 2024-01-31 10533895 d:CurrentFinancialInstruments 2023-01-31 10533895 d:Non-currentFinancialInstruments 2024-01-31 10533895 d:Non-currentFinancialInstruments 2023-01-31 10533895 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 10533895 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 10533895 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 10533895 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 10533895 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 10533895 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 10533895 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 10533895 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 10533895 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-01-31 10533895 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-01-31 10533895 d:ShareCapital 2024-01-31 10533895 d:ShareCapital 2023-01-31 10533895 d:RetainedEarningsAccumulatedLosses 2024-01-31 10533895 d:RetainedEarningsAccumulatedLosses 2023-01-31 10533895 c:FRS102 2023-02-01 2024-01-31 10533895 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 10533895 c:FullAccounts 2023-02-01 2024-01-31 10533895 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10533895 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
10533895










SIFISH PROPERTY MANAGEMENT LIMITED
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JANUARY 2024

 
SIFISH PROPERTY MANAGEMENT LIMITED
REGISTERED NUMBER: 10533895

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
36,967
45,498

  
36,967
45,498

Current assets
  

Debtors: amounts falling due within one year
 5 
9,594
7,876

Current asset investments
 6 
372,776
158,833

Cash at bank and in hand
  
15,792
299,849

  
398,162
466,558

Creditors: amounts falling due within one year
 7 
(308,087)
(341,432)

Net current assets
  
 
 
90,075
 
 
125,126

Total assets less current liabilities
  
127,042
170,624

Creditors: amounts falling due after more than one year
 8 
(19,430)
(30,765)

Provisions for liabilities
  

Deferred tax
  
(1,815)
(11,174)

Net assets
  
105,797
128,685


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
105,697
128,585

  
105,797
128,685


Page 1

 
SIFISH PROPERTY MANAGEMENT LIMITED
REGISTERED NUMBER: 10533895
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider 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 directors acknowledge their 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 income statement 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 by: 

Mr S Fisher
Director
Date: 7 March 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SIFISH PROPERTY MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Sifish Property Management Limited is a private company limited by shares and incorporated in England and Wales, registration number 10533895. The registered office is 63 Elm Grove, Norwich, Norfolk, England, NR3 3LF.

2.Accounting policies

 
2.1

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.3

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.

Page 3

 
SIFISH PROPERTY MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Fixtures and fittings
-
20%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 4

 
SIFISH PROPERTY MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

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.

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.

Page 5

 
SIFISH PROPERTY MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.12

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.

Page 6

 
SIFISH PROPERTY MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2023
42,103
17,957
6,466
66,526


Additions
-
496
215
711



At 31 January 2024

42,103
18,453
6,681
67,237



Depreciation


At 1 February 2023
9,543
8,773
2,712
21,028


Charge for the year on owned assets
6,512
1,936
794
9,242



At 31 January 2024

16,055
10,709
3,506
30,270



Net book value



At 31 January 2024
26,048
7,744
3,175
36,967



At 31 January 2023
32,560
9,184
3,754
45,498


5.


Debtors

2024
2023
£
£


Prepayments and accrued income
9,594
7,876

9,594
7,876


Page 7

 
SIFISH PROPERTY MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Current asset investments

2024
2023
£
£

Unlisted investments
372,776
158,833

372,776
158,833



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
11,334
11,425

Other creditors
265,930
297,681

Accruals and deferred income
30,823
32,326

308,087
341,432



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
19,430
30,765

19,430
30,765


Page 8

 
SIFISH PROPERTY MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
11,334
11,425


11,334
11,425

Amounts falling due 1-2 years

Bank loans
11,612
11,714


11,612
11,714

Amounts falling due 2-5 years

Bank loans
7,818
18,348


7,818
18,348

Amounts falling due after more than 5 years

Bank loans
-
702

-
702

30,764
42,189



10.


Related party transactions

At the year end the directors were owed £257,987, (2023: £286,440) in respect of their joint loan account. Interest at 7.5% was charged on the loan amounting to £20,674 (2023: £22,301). The loan is repayable on demand.

 
Page 9