9 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-30 Sage Accounts Production Advanced 2024 - FRS102_2024 172,000 172,000 43,000 43,000 129,000 7,845 7,845 1,961 1,961 5,884 xbrli:pure xbrli:shares iso4217:GBP 14624375 2023-01-30 2024-03-31 14624375 2024-03-31 14624375 2023-01-29 14624375 core:NetGoodwill 2023-01-30 2024-03-31 14624375 bus:Director1 2023-01-30 2024-03-31 14624375 core:NetGoodwill 2024-03-31 14624375 core:WithinOneYear 2024-03-31 14624375 core:ShareCapital 2024-03-31 14624375 core:SharePremium 2024-03-31 14624375 core:RetainedEarningsAccumulatedLosses 2024-03-31 14624375 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-03-31 14624375 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 14624375 core:Non-currentFinancialInstruments 2024-03-31 14624375 bus:SmallEntities 2023-01-30 2024-03-31 14624375 bus:AuditExemptWithAccountantsReport 2023-01-30 2024-03-31 14624375 bus:SmallCompaniesRegimeForAccounts 2023-01-30 2024-03-31 14624375 bus:PrivateLimitedCompanyLtd 2023-01-30 2024-03-31 14624375 bus:FullAccounts 2023-01-30 2024-03-31 14624375 core:OfficeEquipment 2023-01-30 2024-03-31 14624375 core:OfficeEquipment 2024-03-31 14624375 core:AllAssociates 2023-01-30 2024-03-31
COMPANY REGISTRATION NUMBER: 14624375
Five Sigma Finance Limited
Filleted Unaudited Financial Statements
31 March 2024
Five Sigma Finance Limited
Financial Statements
Period from 30 January 2023 to 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Five Sigma Finance Limited
Statement of Financial Position
31 March 2024
31 Mar 24
Note
£
Fixed assets
Intangible assets
5
129,000
Tangible assets
6
5,884
Investments
7
360,558
---------
495,442
Current assets
Debtors
8
355,114
Cash at bank and in hand
87,397
---------
442,511
Creditors: amounts falling due within one year
9
238,104
---------
Net current assets
204,407
---------
Total assets less current liabilities
699,849
Provisions
1,471
---------
Net assets
698,378
---------
Capital and reserves
Called up share capital
1,205
Share premium account
249,795
Profit and loss account
447,378
---------
Shareholders funds
698,378
---------
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 comprehensive income has not been delivered.
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Five Sigma Finance Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 6 January 2025 , and are signed on behalf of the board by:
Mr M Bisceglia
Director
Company registration number: 14624375
Five Sigma Finance Limited
Notes to the Financial Statements
Period from 30 January 2023 to 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hamilton House, 1 Temple Avenue, London, EC4Y 0HA, United Kingdom.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
25% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
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
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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 other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 9 .
5. Intangible assets
Goodwill
£
Cost
Additions
172,000
---------
At 31 March 2024
172,000
---------
Amortisation
Charge for the period
43,000
---------
At 31 March 2024
43,000
---------
Carrying amount
At 31 March 2024
129,000
---------
6. Tangible assets
Equipment
£
Cost
At 30 January 2023
Additions
7,845
-------
At 31 March 2024
7,845
-------
Depreciation
At 30 January 2023
Charge for the period
1,961
-------
At 31 March 2024
1,961
-------
Carrying amount
At 31 March 2024
5,884
-------
7. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 30 January 2023
Additions
100
360,458
360,558
----
---------
---------
At 31 March 2024
100
360,458
360,558
----
---------
---------
Impairment
At 30 January 2023 and 31 March 2024
----
---------
---------
Carrying amount
At 31 March 2024
100
360,458
360,558
----
---------
---------
8. Debtors
31 Mar 24
£
Trade debtors
146,256
Amounts owed by group undertakings and undertakings in which the company has a participating interest
210
Other debtors
208,648
---------
355,114
---------
9. Creditors: amounts falling due within one year
31 Mar 24
£
Trade creditors
22,072
Social security and other taxes
68,536
Other creditors
147,496
---------
238,104
---------
10. Related party transactions
At the year end the company was owed £210 by its subsidiary company.