Company registration number SC724448 (Scotland)
SIGMOID PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SIGMOID PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SIGMOID PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
368
Investment property
4
98,254
98,254
98,622
98,254
Current assets
Cash at bank and in hand
1,494
2,625
Creditors: amounts falling due within one year
5
(300)
(960)
Net current assets
1,194
1,665
Total assets less current liabilities
99,816
99,919
Creditors: amounts falling due after more than one year
6
(60,995)
(60,995)
Net assets
38,821
38,924
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
38,721
38,824
Total equity
38,821
38,924
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 June 2024 and are signed on its behalf by:
Mrs S Whyte
Mr G Whyte
Director
Director
Company Registration No. SC724448
SIGMOID PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Sigmoid Properties Limited is a private company limited by shares incorporated in Scotland. The company's registered number and registered office address can be found on the Company Information page.
1.1
Accounting convention
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net rental income receivable.
1.3
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life
Plant and equipment
3 years straight line
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
SIGMOID PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
Additions
552
At 31 March 2024
552
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
184
At 31 March 2024
184
Carrying amount
At 31 March 2024
368
At 31 March 2023
4
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
98,254
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
300
960
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
60,995
60,995
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100