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Registered number: 4624088
SIDAS UK LTD
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 4624088
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 62,500 62,500
Tangible Assets 5 88,710 69,832
151,210 132,332
CURRENT ASSETS
Stocks 6 341,448 372,605
Debtors 7 354,445 359,356
Cash at bank and in hand 347,901 312,593
1,043,794 1,044,554
Creditors: Amounts Falling Due Within One Year 8 (401,696 ) (510,142 )
NET CURRENT ASSETS (LIABILITIES) 642,098 534,412
TOTAL ASSETS LESS CURRENT LIABILITIES 793,308 666,744
Creditors: Amounts Falling Due After More Than One Year 9 (21,667 ) (31,667 )
NET ASSETS 771,641 635,077
CAPITAL AND RESERVES
Called up share capital 10 352 352
Share premium account 199,914 199,914
Other reserves 130,340 130,340
Profit and Loss Account 441,035 304,471
SHAREHOLDERS' FUNDS 771,641 635,077
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 STEVEN COUPER
Director
25/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SIDAS UK LTD is a private company, limited by shares, incorporated in England & Wales, registered number 4624088 . The registered office is BRIDGE HOUSE, 1 BRIDGE STREET, KENDAL, CUMBRIA, LA9 7DD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Leasehold NIL
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 30% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 11)
11 11
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 62,500
As at 31 March 2024 62,500
Net Book Value
As at 31 March 2024 62,500
As at 1 April 2023 62,500
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 17,192 104,155 59,469 42,398 223,214
Additions 18,489 17,534 - 534 36,557
As at 31 March 2024 35,681 121,689 59,469 42,932 259,771
Depreciation
As at 1 April 2023 - 78,155 38,469 36,758 153,382
Provided during the period - 10,885 5,250 1,544 17,679
As at 31 March 2024 - 89,040 43,719 38,302 171,061
Net Book Value
As at 31 March 2024 35,681 32,649 15,750 4,630 88,710
As at 1 April 2023 17,192 26,000 21,000 5,640 69,832
6. Stocks
2024 2023
£ £
Materials 341,448 372,605
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 297,121 329,785
Prepayments and accrued income 15,610 14,279
Other debtors - 5,298
312,731 349,362
Due after more than one year
Directors loan account 41,714 9,994
41,714 9,994
354,445 359,356
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 266,876 375,436
Corporation tax 46,252 19,456
Other taxes and social security 8,613 393
VAT 74,755 109,657
Accruals and deferred income 5,200 5,200
401,696 510,142
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 21,667 31,667
21,667 31,667
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 352 352
Page 5