Company Registration No. 13419088 (England and Wales)
Sirius Homes Ltd
Unaudited accounts
for the year ended 31 May 2024
Sirius Homes Ltd
Unaudited accounts
Contents
Sirius Homes Ltd
Company Information
for the year ended 31 May 2024
Directors
Sejal Patel
Soanesh Rash
Company Number
13419088 (England and Wales)
Registered Office
13 Harwell Close
Ruislip
Middlesex
HA4 7EA
England
Accountants
Embrace Accountants Ltd
37 St. Leonards Drive
Nottingham
NG8 2BB
Sirius Homes Ltd
Statement of financial position
as at 31 May 2024
Investment property
245,511
245,511
Cash at bank and in hand
8,186
-
Creditors: amounts falling due within one year
(193,475)
(193,080)
Net current liabilities
(185,289)
(193,080)
Total assets less current liabilities
60,222
52,431
Creditors: amounts falling due after more than one year
(67,294)
(59,817)
Provisions for liabilities
Other provisions
-
(1,408)
Net liabilities
(7,072)
(8,794)
Called up share capital
25
25
Profit and loss account
(7,097)
(8,819)
Shareholders' funds
(7,072)
(8,794)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by
Soanesh Rash
Director
Company Registration No. 13419088
Sirius Homes Ltd
Notes to the Accounts
for the year ended 31 May 2024
Sirius Homes Ltd is a private company, limited by shares, registered in England and Wales, registration number 13419088. The registered office is 13 Harwell Close, Ruislip, Middlesex, HA4 7EA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements.
The directors have reasonable expectation that the company has adequate resources to continue in operational existence and
to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements due to
the significant level of net assets and cash reserves available. Accordingly, they continue to adopt the going concern basis in
preparing the financial statements.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Sirius Homes Ltd
Notes to the Accounts
for the year ended 31 May 2024
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 years 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 assets reflect 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.
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Fair value at 1 June 2023
245,511
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
193,080
193,080
6
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
67,294
59,817
Sirius Homes Ltd
Notes to the Accounts
for the year ended 31 May 2024
7
Transactions with related parties
Included within creditors falling due greater than one year is a loan of £67,294 (2023: £59,817) which is a loan made to meet ongoing costs. The loan has been made equally by the two directors and is unsecured, interest free and repayable on demand.
No remuneration was paid to the directors during the current period.
The ultimate controlling party during the period; Soanesh Rash Soanesh Rash holds 100% of the issued class A shares equating to 33.33% of the shareholding, and is therefore deemed the ultimate controlling party
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).