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Registration number: 08465225

Sirius G Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Sirius G Limited

(Registration number: 08465225)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

989

1,951

Current assets

 

Other financial assets

4

1,294,079

330,000

Cash at bank and in hand

 

22,828

140,720

 

1,316,907

470,720

Creditors: Amounts falling due within one year

5

(47,137)

(42,001)

Net current assets

 

1,269,770

428,719

Total assets less current liabilities

 

1,270,759

430,670

Provisions for liabilities

(185,000)

-

Net assets

 

1,085,759

430,670

Capital and reserves

 

Called up share capital

6

100

100

Profit and loss account

1,085,659

430,570

Shareholders' funds

 

1,085,759

430,670

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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 28 January 2025 and signed on its behalf by:
 

.........................................

Dr N Garneti
Director

 

Sirius G Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Statutory information

Sirius G Limited is a private company, limited by shares, domiciled in England and Wales, company number 08465225. The registered office is at Pegasus House, 463a Glossop Road, Sheffield, S10 2QD.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:

Asset class

Depreciation method and rate

Office equipment

33% reducing balance

Investments

Investments in equity shares which are publicly traded or where fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the 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. Dividends on equity securities are recognised in income when receivable.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

 

Sirius G Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Tangible assets

Office equipment
£

Cost

At 1 April 2023

11,584

At 31 March 2024

11,584

Depreciation

At 1 April 2023

9,633

Charge for the year

962

At 31 March 2024

10,595

Carrying amount

At 31 March 2024

989

At 31 March 2023

1,951

 

Sirius G Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Other financial assets

Financial assets at fair value
£

Current financial assets

Cost

At 1 April 2023

330,000

Fair value adjustments

740,000

Additions

224,079

At 31 March 2024

1,294,079

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

43,752

30,696

Directors' current account

46

8,185

Accruals

3,339

3,120

47,137

42,001

 

Sirius G Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

95

95

100

100

A Ordinary shares of £1 each

5

5

-

-

 

100

100

100

100