Sidican Limited |
Notes to the Accounts |
for the year ended 31 January 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at the rate shown below:- |
|
|
Plant and machinery |
25% reducing balance |
|
|
Debtors and creditors receivable/payable within one year |
|
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 administrative expenses. |
|
|
Taxation |
|
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 February 2023 |
3,549 |
|
At 31 January 2024 |
3,549 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 February 2023 |
2,132 |
|
Charge for the year |
354 |
|
At 31 January 2024 |
2,486 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2024 |
1,063 |
|
At 31 January 2023 |
1,417 |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
- |
|
5,700 |
|
Other debtors |
723 |
|
683 |
|
|
|
|
|
|
723 |
|
6,383 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Taxation and social security costs |
6,775 |
|
9,376 |
|
Other creditors |
14,402 |
|
34,925 |
|
|
|
|
|
|
21,177 |
|
44,301 |
|
|
|
|
|
|
|
|
|
|
6 |
Controlling party |
|
|
The company is controlled by the Directors. |
|
|
7 |
Other information |
|
|
Sidican Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
2 Tower House |
|
Tower Centre |
|
Hoddesdon |
|
EN11 8UR |