Company registration number 05864846 (England and Wales)
6SIDES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
6SIDES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
6SIDES LIMITED (REGISTERED NUMBER: 05864846)
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
22,040
72,097
Current assets
Stocks
107,500
175,000
Debtors
4
71,294
48,344
Cash at bank and in hand
17,826
87,720
196,620
311,064
Creditors: amounts falling due within one year
5
(194,344)
(305,409)
Net current assets
2,276
5,655
Total assets less current liabilities
24,316
77,752
Creditors: amounts falling due after more than one year
6
(24,079)
(55,835)
Net assets
237
21,917
Capital and reserves
Called up share capital
101
101
Profit and loss reserves
136
21,816
Total equity
237
21,917

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

6SIDES LIMITED (REGISTERED NUMBER: 05864846)
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 March 2025 and are signed on its behalf by:
D Gillespie
Director
6SIDES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

6Sides Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 399-401 Strand, London, United Kingdom, WC2R 0LT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable in respect of construction services.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and Machinery
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

6SIDES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and Machinery
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
13,950
130,408
144,358
Disposals
-
0
(65,730)
(65,730)
At 31 March 2024
13,950
64,678
78,628
Depreciation and impairment
At 1 April 2023
3,706
68,555
72,261
Depreciation charged in the year
2,561
4,785
7,346
Eliminated in respect of disposals
-
0
(23,019)
(23,019)
At 31 March 2024
6,267
50,321
56,588
Carrying amount
At 31 March 2024
7,683
14,357
22,040
At 31 March 2023
10,244
61,853
72,097

Motor vehicles are secured under finance leases.

6SIDES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
1,262
Other debtors
71,294
47,082
71,294
48,344
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,403
9,383
Trade creditors
18,168
22,575
Taxation and social security
54,449
55,021
Other creditors
112,324
218,430
194,344
305,409
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
24,079
24,978
Other creditors
-
0
30,857
24,079
55,835
7
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
1,076
9,080
In two to five years
-
0
42,586
1,076
51,666

Finance lease payments represent rentals payable by the company for motor vehicles. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 4 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

6SIDES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
8
Financial commitments, guarantees and contingent liabilities

In a previous year, the company borrowed £50,000 from its bankers for a bounce back loan. As part of its loan scheme the UK government has guaranteed the advance and will pay the interest and fees due for the first 12 months. As at the balance sheet date, the outstanding balance is £33,462.

9
Related party transactions

Dividends totalling £30,000 (2023: £58,000) were paid in the period in respect of shares held by the company's directors.

 

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