Registration number:
Sives GreenWorld Limited
for the Year Ended 31 March 2024
Sives GreenWorld Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Sives GreenWorld Limited
Company Information
Director |
Mr James Jeffery Hall Sives |
Company secretary |
Mrs Lesley Sives |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Sives GreenWorld Limited
for the Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sives GreenWorld Limited for the year ended 31 March 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance
This report is made solely to you, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial information of Sives GreenWorld Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company for our work or for this report.
It is your duty to ensure that Sives GreenWorld 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 of Sives GreenWorld Limited. You consider that Sives GreenWorld 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 Sives GreenWorld 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 statutory accounts.
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Kirkcaldy
Fife
KY1 1HB
Sives GreenWorld Limited
(Registration number: SC681989)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
729,573 |
502,646 |
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Shareholders' funds |
729,673 |
502,746 |
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Sives GreenWorld Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentation currency is sterling.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Income represents dividends received from its subsidiary which are recognised when the dividend becomes payable.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Sives GreenWorld Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
2 |
Accounting policies (continued) |
Debtors
Debtors comprise a balance due from a related company in which the director formerly had a interest.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tax charge |
2024 |
2023 |
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£ |
£ |
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Corporation tax charge |
2,976 |
504 |
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2,976 |
504 |
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2023 |
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Disposals |
( |
At 31 March 2024 |
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Provision |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Sives GreenWorld Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
5 |
Investments (continued) |
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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31 Townsend Place
Scotland |
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Subsidiary undertakings |
Land Technology Limited The principal activity of Land Technology Limited is |
Debtors |
Current |
Note |
2024 |
2023 |
Amounts owed by related parties |
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Other debtors |
- |
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Other debtors comprise a loan to a related company which is subject to interest of 4.00% per annum.
Sives GreenWorld Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Taxation and social security |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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Ordinary share capital of £1 each |
100 |
100 |
100 |
100 |
Dividends |
Interim dividends paid
2024 |
2023 |
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Interim dividend of £20 (2023- £155) per ordinary share |
2,000 |
15,500 |
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Related party transactions |
Summary of transactions with entities with joint control or significant interest
Interest is charged at 4% per annum on all outstanding balances.
Summary of transactions with subsidiaries
Land Technology Limited Amounts outstanding are interest free and repayable on demand. |
Summary of transactions with other related parties
Loans to related parties
Sives GreenWorld Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
10 |
Related party transactions (continued) |
2024 |
Entities with joint control or significant influence |
Subsidiary |
Other related parties |
Total |
At start of period |
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- |
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Advanced |
- |
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Repaid |
( |
( |
( |
( |
At end of period |
- |
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- |
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2023 |
Entities with joint control or significant influence |
Subsidiary |
Total |
At start of period |
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- |
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Advanced |
- |
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At end of period |
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Loans from related parties
2024 |
Key management |
Total |
At start of period |
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At end of period |
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2023 |
Subsidiary |
Key management |
Total |
At start of period |
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Repaid |
( |
- |
( |
At end of period |
- |
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