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REGISTERED NUMBER: 10920480 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Legacy of Sid Ltd

Legacy of Sid Ltd (Registered number: 10920480)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Legacy of Sid Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: S M Thorp
Miss C A Harvey





REGISTERED OFFICE: 36a Churchgate Street
Bury St Edmunds
Suffolk
IP33 1RD





REGISTERED NUMBER: 10920480 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Legacy of Sid Ltd (Registered number: 10920480)

Abridged Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,367 2,717
Tangible assets 5 16,767 9,070
Investments 6 30,275 30,275
49,409 42,062

CURRENT ASSETS
Debtors 513,248 147,923
Cash at bank 180,801 248,482
694,049 396,405
CREDITORS
Amounts falling due within one year 280,697 83,205
NET CURRENT ASSETS 413,352 313,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

462,761

355,262

PROVISIONS FOR LIABILITIES 4,192 2,267
NET ASSETS 458,569 352,995

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 458,469 352,895
SHAREHOLDERS' FUNDS 458,569 352,995

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Legacy of Sid Ltd (Registered number: 10920480)

Abridged Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by:





S M Thorp - Director


Legacy of Sid Ltd (Registered number: 10920480)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Legacy of Sid Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website & app design is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost and 20% on reducing balance

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


Legacy of Sid Ltd (Registered number: 10920480)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2023
and 31 August 2024 3,491
AMORTISATION
At 1 September 2023 774
Amortisation for year 350
At 31 August 2024 1,124
NET BOOK VALUE

At 31 August 2024 2,367
At 31 August 2023 2,717

Legacy of Sid Ltd (Registered number: 10920480)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2023 27,377
Additions 14,757
At 31 August 2024 42,134
DEPRECIATION
At 1 September 2023 18,307
Charge for year 7,060
At 31 August 2024 25,367
NET BOOK VALUE
At 31 August 2024 16,767
At 31 August 2023 9,070

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 September 2023
and 31 August 2024 30,275
NET BOOK VALUE
At 31 August 2024 30,275
At 31 August 2023 30,275

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 100 100

Legacy of Sid Ltd (Registered number: 10920480)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
S M Thorp
Balance outstanding at start of year (1,341 ) 48,659
Amounts advanced 20,354 -
Amounts repaid (4,475 ) (50,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,538 (1,341 )