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REGISTERED NUMBER: 03160392 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

SIBC Trading Limited

SIBC Trading Limited (Registered number: 03160392)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


SIBC Trading Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S C Goodchild
J Pepall
Mrs M Priddey
P R Rees
D Weaver





REGISTERED OFFICE: Brick Kiln Lane
Hillfield
Solihull
West Midlands
B91 3LE





REGISTERED NUMBER: 03160392 (England and Wales)





ACCOUNTANTS: Locke Williams Associates LLP
Chartered Accountants
c/o Blackthorn House
St Pauls Square
Birmingham
West Midlands
B3 1RL

SIBC Trading Limited (Registered number: 03160392)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Stocks 8,301 3,930
Debtors 4 11,154 22,481
Cash at bank and in hand 25,123 16,361
44,578 42,772
CREDITORS
Amounts falling due within one year 5 291,232 252,295
NET CURRENT LIABILITIES (246,654 ) (209,523 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(246,654

)

(209,523

)

CAPITAL AND RESERVES
Called up share capital 6 2 2
Capital redemption reserve 9,000 9,000
Retained earnings (255,656 ) (218,525 )
SHAREHOLDERS' FUNDS (246,654 ) (209,523 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 19 September 2024 and were signed on its behalf by:





S C Goodchild - Director


SIBC Trading Limited (Registered number: 03160392)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

SIBC Trading 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.

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.

Going concern
There was a net deficiency of assets of £246,654 at the balance sheet date, however the directors have been assured of continued support by the parent company, being Solihull Indoor Bowls Club Limited, through the ongoing continued trade and through the extended terms of credit of amounts due. The directors consider the company will continue to receive this support so as to continue trading for the foreseeable future (of a period not less than twelve months from the date of approval of these financial statements). On the reliance of this support, the financial statements have been prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually:

Bar and catering sales - at point of sale
Function room and rents received - on usage of facilities
Licence fees - in accordance with period of licence.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.


SIBC Trading Limited (Registered number: 03160392)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 11 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,568 4,483
Amounts owed by group undertakings 4,660 15,033
Other debtors 3,926 2,965
11,154 22,481

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 5,599 9,874
Amounts owed to group undertakings 274,239 231,801
Taxation and social security 3,406 2,666
Other creditors 7,988 7,954
291,232 252,295

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2

7. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £240,000 (2023 £240,000). These commitments relate to the company's non-cancellable operating leases.

8. RELATED PARTY DISCLOSURES

The amounts owed to and from group companies are all classified as repayable on demand.

SIBC Trading Limited (Registered number: 03160392)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. ULTIMATE PARENT COMPANY

The ultimate parent company is Solihull Indoor Bowls Club Limited, incorporated in the United Kingdom and registered in England and Wales.