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SIGA SOLUTIONS LIMITED

Registered Number
09019551
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

SIGA SOLUTIONS LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

Wendy-Lee Glanfield

Registered Address

5 Albert Road
Southsea
PO5 2SE

Registered Number

09019551 (England and Wales)
SIGA SOLUTIONS LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets4310,000310,000
Tangible assets5118,053141,802
Investment property6385,000430,768
813,053882,570
Current assets
Debtors7272,912346,235
Cash at bank and on hand666,0841,332,161
938,9961,678,396
Creditors amounts falling due within one year8(302,053)(1,199,279)
Net current assets (liabilities)636,943479,117
Total assets less current liabilities1,449,9961,361,687
Creditors amounts falling due after one year9(98,316)(123,345)
Net assets1,351,6801,238,342
Capital and reserves
Called up share capital100100
Profit and loss account1,351,5801,238,242
Shareholders' funds1,351,6801,238,342
The financial statements were approved and authorised for issue by the Director on 1 April 2025, and are signed on its behalf by:
Wendy-Lee Glanfield
Director
Registered Company No. 09019551
SIGA SOLUTIONS LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible fixed assets are stated at cost or valuation less depreciation.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property and is measured using the revaluation model. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in other comprehensive income net of the related deferred tax impact. Any revaluation surplus is accumulated in equity, or in the profit and loss reserve if it reverses a downwards revaluation previously recognised in profit and loss. Such reversal is recorded in profit and loss. A revaluation deficit is recognised in equity to the extent that it offsets an existing surplus on the same asset, with any excess recognised in profit and loss.
2.Average number of employees

20242023
Average number of employees during the year22
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Intangible assets

Other

Total

££
Cost or valuation
At 01 May 23310,000310,000
At 30 April 24310,000310,000
Net book value
At 30 April 24310,000310,000
At 30 April 23310,000310,000
5.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 May 23128,47433,89253,464215,830
Additions--3,1773,177
At 30 April 24128,47433,89256,641219,007
Depreciation and impairment
At 01 May 2320,55318,15835,31774,028
Charge for year8,5656,72611,63526,926
At 30 April 2429,11824,88446,952100,954
Net book value
At 30 April 2499,3569,0089,689118,053
At 30 April 23107,92115,73418,147141,802
6.Investment property

£
Fair value at 01 May 23430,768
Fair value adjustments(45,768)
At 30 April 24385,000
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables261,470346,235
Other debtors11,442-
Total272,912346,235
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables108,43529,916
Bank borrowings and overdrafts35,02931,396
Amounts owed to related parties51,519916,760
Taxation and social security103,500220,024
Other creditors630283
Accrued liabilities and deferred income2,940900
Total302,0531,199,279
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts98,316123,345
Total98,316123,345
10.Provisions for liabilities
11.Related party transactions
The director maintains an interest free loan with the company. The balance owed to the director as at 30 April 2024 was £51,519 (2023 - £916,760).