0 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-22 Sage Accounts Production Advanced 2021 - FRS102_2021 666,864 666,864 666,864 xbrli:pure xbrli:shares iso4217:GBP 13994109 2022-03-22 2023-03-31 13994109 2023-03-31 13994109 bus:RegisteredOffice 2022-03-22 2023-03-31 13994109 bus:LeadAgentIfApplicable 2022-03-22 2023-03-31 13994109 bus:Director1 2022-03-22 2023-03-31 13994109 bus:Director2 2022-03-22 2023-03-31 13994109 core:ShareCapital 2023-03-31 13994109 core:SharePremium 2023-03-31 13994109 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-03-31 13994109 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 13994109 core:Non-currentFinancialInstruments 2023-03-31 13994109 bus:SmallEntities 2022-03-22 2023-03-31 13994109 bus:AuditExemptWithAccountantsReport 2022-03-22 2023-03-31 13994109 bus:FullAccounts 2022-03-22 2023-03-31 13994109 bus:SmallCompaniesRegimeForAccounts 2022-03-22 2023-03-31 13994109 bus:PrivateLimitedCompanyLtd 2022-03-22 2023-03-31
COMPANY REGISTRATION NUMBER: 13994109
Sinev Limited
Filleted Unaudited Financial Statements
For the period ended
31 March 2023
Sinev Limited
Financial Statements
Period from 22 March 2022 to 31 March 2023
Contents
Page
Officers and professional advisers
1
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
4
Sinev Limited
Officers and Professional Advisers
The board of directors
Mr W Veti
Mr W C Veti
Registered office
1i North Sands Business Centre
Liberty Way
Sunderland
Tyne and Wear
SR6 0GA
Accountants
Debere Limited
Chartered accountants
Swallow House
Parsons Road
Washington
Tyne and Wear
NE37 1EZ
Sinev Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Sinev Limited
Period from 22 March 2022 to 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sinev Limited for the period ended 31 March 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Sinev Limited, as a body, in accordance with the terms of our engagement letter dated 19 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Sinev Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sinev Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Sinev Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sinev Limited. You consider that Sinev Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Sinev Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Debere Limited Chartered accountants
Swallow House Parsons Road Washington Tyne and Wear NE37 1EZ
19 April 2024
Sinev Limited
Statement of Financial Position
31 March 2023
31 Mar 23
Note
£
Fixed assets
Investments
4
666,864
Current assets
Debtors
5
12,236
--------
Net current assets
12,236
---------
Total assets less current liabilities
679,100
---------
Capital and reserves
Called up share capital
18,354
Share premium account
660,746
---------
Shareholders funds
679,100
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 April 2024 , and are signed on behalf of the board by:
Mr W C Veti
Director
Company registration number: 13994109
Sinev Limited
Notes to the Financial Statements
Period from 22 March 2022 to 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1i North Sands Business Centre, Liberty Way, Sunderland, Tyne and Wear, SR6 0GA.
2. Statement of compliance
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. General Information Sinev Limited is the parent company of Marson Investments Limited. The company is a private company limited by shares and is incorporated and domiciled in England.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement after allowing for any trade discounts due. Consolidation The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Investments Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Investments
Shares in group undertakings
£
Cost
At 22 March 2022
Additions
666,864
---------
At 31 March 2023
666,864
---------
Impairment
At 22 March 2022 and 31 March 2023
---------
Carrying amount
At 31 March 2023
666,864
---------
5. Debtors
31 Mar 23
£
Other debtors
12,236
--------
Short term debtors are measured at the transaction price.