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Registered number: 10130857
Sisu Psychology Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Sisu Psychology Limited for the year ended 30 April 2024
To assist you to fulfil your duties under the Companies Act 2006,we have prepared for your approval the accounts of Sisu Psychology Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Sisu Psychology Limited , as a body, in accordance with the terms of our engagement letter dated 05 July 2023. Our work has been undertaken solely to prepare for your approval the accounts of Sisu Psychology Limited and state those matters that we have agreed to state to the directors of Sisu Psychology Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sisu Psychology Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Sisu Psychology Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Sisu Psychology Limited . You consider that Sisu Psychology Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Sisu Psychology Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
12th September 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 10130857
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 14,401 16,942
14,401 16,942
CURRENT ASSETS
Debtors 5 24,396 18,846
Cash at bank and in hand 32,114 67,381
56,510 86,227
Creditors: Amounts Falling Due Within One Year 6 (21,511 ) (29,343 )
NET CURRENT ASSETS (LIABILITIES) 34,999 56,884
TOTAL ASSETS LESS CURRENT LIABILITIES 49,400 73,826
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (3,600 ) (4,236 )
NET ASSETS 45,800 69,590
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 45,700 69,490
SHAREHOLDERS' FUNDS 45,800 69,590
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Smeed
Director
12th September 2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing balance method
Computer Equipment 33% Straight line method
1.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.5. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2023: 1)
1 1
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3. Intangible Assets
Other
£
Cost
As at 1 May 2023 32,691
As at 30 April 2024 32,691
Amortisation
As at 1 May 2023 15,749
Provided during the period 2,541
As at 30 April 2024 18,290
Net Book Value
As at 30 April 2024 14,401
As at 1 May 2023 16,942
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 May 2023 1,250
As at 30 April 2024 1,250
Depreciation
As at 1 May 2023 1,250
As at 30 April 2024 1,250
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 24,084 18,661
Other debtors 312 185
24,396 18,846
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 372 9,972
Taxation and social security 21,139 19,371
21,511 29,343
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7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Deferred Tax 3,600 4,236
8. Provisions for Liabilities
Deferred Tax
£
As at 1 May 2023 4,236
Additions (636 )
Balance at 30 April 2024 3,600
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Value Number 2024 2023
Allotted, called up and fully paid £ £ £
Ordinary A shares 1 60 60 60
Ordinary B shares 1 40 40 40
100 100 100
10. General Information
Sisu Psychology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10130857 . The registered office is Unit 3, Building 2, The Colony Wilmslow, Altrincham Road, Wilmslow, SK9 4LY.
The company's principal place of business is 17 Longmeadow, Cheadle Hulme, Cheshire, SK8 7ER.
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