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REGISTERED NUMBER: 05591538 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Sida Corporation Limited

Sida Corporation Limited (Registered number: 05591538)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sida Corporation Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S Sidar
Mrs A Sidar





SECRETARY: A Sidar





REGISTERED OFFICE: Three Counties House
18a Victoria Street
Dunstable
Bedfordshire
LU6 3BA





REGISTERED NUMBER: 05591538 (England and Wales)





ACCOUNTANTS: P D & Co (2003) Limited T/A Parbery Davies & Co
Three Counties House
18a Victoria Street
Dunstable
Bedfordshire
LU6 3BA

Sida Corporation Limited (Registered number: 05591538)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,400,000 1,400,000

CURRENT ASSETS
Debtors 5 84,948 86,799
Cash at bank 30,900 33,274
115,848 120,073
CREDITORS
Amounts falling due within one year 6 48,646 51,777
NET CURRENT ASSETS 67,202 68,296
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,467,202

1,468,296

CREDITORS
Amounts falling due after more than one
year

7

(840,952

)

(841,335

)

PROVISIONS FOR LIABILITIES (68,750 ) (68,750 )
NET ASSETS 557,500 558,211

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 8 632,677 632,677
Retained earnings (75,178 ) (74,467 )
SHAREHOLDERS' FUNDS 557,500 558,211

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.

Sida Corporation Limited (Registered number: 05591538)

Balance Sheet - 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2024 and were signed on its behalf by:





S Sidar - Director


Sida Corporation Limited (Registered number: 05591538)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Sida Corporation Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property

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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 1,400,000
NET BOOK VALUE
At 31 December 2023 1,400,000
At 31 December 2022 1,400,000

Sida Corporation Limited (Registered number: 05591538)

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Land and
buildings
£   
Valuation in 2017 357,677
Valuation in 2022 275,000
Cost 767,323
1,400,000

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 767,323 767,323

Value of land in freehold land and buildings 1,400,000 1,400,000

Freehold land and buildings were valued on an open market basis on 31 December 2023 by Zoopla .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 801 801
Amounts owed by group undertakings 66,130 66,130
Other debtors 18,017 19,868
84,948 86,799

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 11,813 13,463
Taxation and social security 10 2,329
Other creditors 36,823 35,985
48,646 51,777

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 840,952 841,335

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 840,952 841,335

Sida Corporation Limited (Registered number: 05591538)

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

8. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 632,677

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
S Sidar
Balance outstanding at start of year 1,707 12,769
Amounts repaid (2,689 ) (11,062 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (982 ) 1,707

10. RELATED PARTY DISCLOSURES

Please note that a declaration of trust exists between the directors, Sanjay Sidar & Anjali Sidar and is dated January 2015.