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REGISTERED NUMBER: SC335379 (Scotland)















Financial Statements For The Year Ended 31 December 2023

for

Sigma Surveys & Mapping Ltd

Sigma Surveys & Mapping Ltd (Registered number: SC335379)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Sigma Surveys & Mapping Ltd

Company Information
For The Year Ended 31 December 2023







DIRECTORS: J Roman
R Rennie





REGISTERED OFFICE: Pavilion 2
Buchanan Business Park
Cumbernauld Road, Stepps
Glasgow
G33 6HZ





REGISTERED NUMBER: SC335379 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Sigma Surveys & Mapping Ltd (Registered number: SC335379)

Abridged Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 391,910 337,200

CURRENT ASSETS
Debtors 200,292 180,599
Cash at bank 80,222 129,529
280,514 310,128
CREDITORS
Amounts falling due within one year 236,529 225,918
NET CURRENT ASSETS 43,985 84,210
TOTAL ASSETS LESS CURRENT
LIABILITIES

435,895

421,410

CREDITORS
Amounts falling due after more than one
year

(76,307

)

(72,891

)

PROVISIONS FOR LIABILITIES (86,933 ) (70,617 )
NET ASSETS 272,655 277,902

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 271,655 276,902
SHAREHOLDERS' FUNDS 272,655 277,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Sigma Surveys & Mapping Ltd (Registered number: SC335379)

Abridged Statement of Financial Position - continued
31 December 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 Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 December 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:





J Roman - Director


Sigma Surveys & Mapping Ltd (Registered number: SC335379)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Sigma Surveys & Mapping Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 stated net of VAT and trade discounts. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to the date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Computer equipment - 33.33% on cost
Fixed plant and equipment - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Current or deferred taxation assets and liabilities are not discounted.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Sigma Surveys & Mapping Ltd (Registered number: SC335379)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 583,017
Additions 165,175
Disposals (90,725 )
At 31 December 2023 657,467
DEPRECIATION
At 1 January 2023 245,817
Charge for year 65,066
Eliminated on disposal (45,326 )
At 31 December 2023 265,557
NET BOOK VALUE
At 31 December 2023 391,910
At 31 December 2022 337,200

Sigma Surveys & Mapping Ltd (Registered number: SC335379)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2023 120,848
Additions 87,209
Transfer to ownership (29,915 )
At 31 December 2023 178,142
DEPRECIATION
At 1 January 2023 9,113
Charge for year 18,863
Transfer to ownership (6,232 )
At 31 December 2023 21,744
NET BOOK VALUE
At 31 December 2023 156,398
At 31 December 2022 111,735

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 52,414 36,367
Between one and five years 62,078 48,662
114,492 85,029

Non-cancellable operating leases
2023 2022
£    £   
Within one year 37,376 30,755
Between one and five years 28,750 50,286
66,126 81,041

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 114,492 85,029