0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,850 1,850 xbrli:pure xbrli:shares iso4217:GBP SC443391 2023-03-01 2024-02-29 SC443391 2024-02-29 SC443391 2023-02-28 SC443391 2022-03-01 2023-02-28 SC443391 2023-02-28 SC443391 2022-02-28 SC443391 bus:Director1 2023-03-01 2024-02-29 SC443391 core:WithinOneYear 2024-02-29 SC443391 core:WithinOneYear 2023-02-28 SC443391 core:AfterOneYear 2023-02-28 SC443391 core:ShareCapital 2024-02-29 SC443391 core:ShareCapital 2023-02-28 SC443391 core:RetainedEarningsAccumulatedLosses 2024-02-29 SC443391 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC443391 bus:SmallEntities 2023-03-01 2024-02-29 SC443391 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 SC443391 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC443391 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC443391 bus:FullAccounts 2023-03-01 2024-02-29 SC443391 core:OfficeEquipment 2023-03-01 2024-02-29 SC443391 core:OfficeEquipment 2024-02-29
COMPANY REGISTRATION NUMBER: SC443391
SIDSTAN SOFTWARE LIMITED
Filleted Unaudited Financial Statements
29 February 2024
SIDSTAN SOFTWARE LIMITED
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Current Assets
Debtors
5
194
194
Creditors: amounts falling due within one year
6
3,019
1,590
-------
-------
Net Current Liabilities
2,825
1,396
-------
-------
Total Assets Less Current Liabilities
( 2,825)
( 1,396)
Creditors: amounts falling due after more than one year
7
91
-------
-------
Net Liabilities
( 2,825)
( 1,487)
-------
-------
Capital and Reserves
Called up share capital
100
100
Profit and loss account
( 2,925)
( 1,587)
-------
-------
Shareholders Deficit
( 2,825)
( 1,487)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 October 2024 , and are signed on behalf of the board by:
Mr D Nicol
Director
Company registration number: SC443391
SIDSTAN SOFTWARE LIMITED
Notes to the Financial Statements
Year Ended 29 February 2024
1. General Information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 30 Woodhall Terrace, Juniper Green, Edinburgh, EH14 5BR.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going Concern
The financial statements for the year show a loss before tax of £1,338 (2023 - 1,788). The Director believes that the company has adequate resources to continue in operational existence for the foreseeable future. The Director confirms that he will continue to adopt the going concern basis of accounting in preparing the financial statements.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Tangible Assets
Equipment
Total
£
£
Cost
At 1 March 2023 and 29 February 2024
1,850
1,850
-------
-------
Depreciation
At 1 March 2023 and 29 February 2024
1,850
1,850
-------
-------
Carrying amount
At 29 February 2024
-------
-------
At 28 February 2023
-------
-------
5. Debtors
2024
2023
£
£
Other debtors
194
194
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
30
Social security and other taxes
667
771
Other creditors
2,352
789
-------
-------
3,019
1,590
-------
-------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Trade creditors
91
----
----