2023-03-012024-02-292024-02-29false13201691SIGMA OS SOFTWARE 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SIGMA OS SOFTWARE LTD

Registered Number
13201691
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

SIGMA OS SOFTWARE LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

ATTAR, Ali
GHASSEMIBOUYAGHCHI, Mahyad
MITRA, Saurav

Registered Address

Suite 1.06, Fox Court 14 Gray’S Inn Road
London
WC1X 8HN

Registered Number

13201691 (England and Wales)
SIGMA OS SOFTWARE LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets314,22323,119
14,22323,119
Current assets
Debtors4302,98795,807
Cash at bank and on hand33,91194,173
336,898189,980
Creditors amounts falling due within one year5(41,351)(335,933)
Net current assets (liabilities)295,547(145,953)
Total assets less current liabilities309,770(122,834)
Creditors amounts falling due after one year6(2,507,413)(1,462,143)
Net assets(2,197,643)(1,584,977)
Capital and reserves
Called up share capital33
Profit and loss account(2,197,646)(1,584,980)
Shareholders' funds(2,197,643)(1,584,977)
The financial statements were approved and authorised for issue by the Board of Directors on 16 August 2024, and are signed on its behalf by:
GHASSEMIBOUYAGHCHI, Mahyad
Director
Registered Company No. 13201691
SIGMA OS SOFTWARE LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, with the support of its connected company Sigma OS Inc. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings4
Office Equipment4
2.Average number of employees

20242023
Average number of employees during the year55
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 March 2313,96622,07536,041
Additions-125125
At 29 February 2413,96622,20036,166
Depreciation and impairment
At 01 March 234,9807,94212,922
Charge for year3,4925,5299,021
At 29 February 248,47213,47121,943
Net book value
At 29 February 245,4948,72914,223
At 28 February 238,98614,13323,119
4.Debtors: amounts due within one year

2024

2023

££
Other debtors292,46063,477
Prepayments and accrued income10,52732,330
Total302,98795,807
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables18,32519,286
Taxation and social security21,873-
Other creditors1,153316,647
Total41,351335,933
6.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties2,507,4131,462,143
Total2,507,4131,462,143
7.Operating lease commitments
The company has an operating lease commitment of £82,050 as at 29 February 2024. Of this value, £76,050 is payable within one year
8.Directors advances, credits and guarantees
At the end of the reporting period, a loan of £15,731 (2023: 15,899) was owed to the company from the director Mahyad Ghassemibouyaghchi.
9.Related party transactions
The company is related to Sigma OS Inc. by virtue of common control. At the balance sheet date the amount owed to Sigma OS Inc. was £2,507,413 included in creditors falling due after one year.