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Registered number: 02321700









SIGI LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SIGI LIMITED
REGISTERED NUMBER:02321700

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,927
4,458

  
2,927
4,458

Current assets
  

Stocks
  
5,850
12,249

Debtors: amounts falling due within one year
 8 
148,027
154,014

Cash at bank and in hand
  
816,296
746,278

  
970,173
912,541

Creditors: amounts falling due within one year
 6 
(299,523)
(296,153)

Net current assets
  
 
 
670,650
 
 
616,388

Total assets less current liabilities
  
673,577
620,846

Provisions for liabilities
  

Deferred tax
  
(303)
(640)

Net assets
  
673,274
620,206


Capital and reserves
  

Called up share capital 
  
146,111
146,111

Share premium account
  
4,025
4,025

Profit and loss account
  
523,138
470,070

Shareholders' funds
  
673,274
620,206


Page 1

 
SIGI LIMITED
REGISTERED NUMBER:02321700
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M J Persson
Director

Date: 25 April 2025

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
SIGI LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
146,111
4,025
410,838
560,974


Comprehensive income for the year

Profit for the year
-
-
59,232
59,232



At 1 January 2024
146,111
4,025
470,070
620,206


Comprehensive income for the year

Profit for the year
-
-
53,068
53,068


At 31 December 2024
146,111
4,025
523,138
673,274


Page 3

 
SIGI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

SIGI Limited is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 02321700). The registered office address is Unit 10 Grovelands Business Park, West Haddon Road, East Haddon, Northampton, England, NN6 8FB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. This expectation is founded on a fellow group undertaking's confirmation of the expected continuation of intercompany marketing services for a period of 12 months from the signing of these accounts. The Directors have confirmed that the fellow group undertaking's financial position and the wider financial position of the group is sound. Thus, the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

Page 4

 
SIGI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover from the supply and installation of scissor lifts is recognised on the date of installation, except where supply has occurred, but installation has been deferred at the customer's express request. In the latter case, turnover is recognised on the date of supply.
Turnover from the supply of marketing services to the parent undertaking is recognised when the corresponding cost is incurred.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Depreciation is provided on the following basis:

Freehold property
-
2.5% straight-line
Plant and machinery
-
20-50% straight-line
Freehold land
-
not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
SIGI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.


 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each balance sheet date, stocks are assessed for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complte and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
 
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 
SIGI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 6).

Page 7

 
SIGI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Plant and machinery

£



Cost


At 1 January 2024
13,678



At 31 December 2024

13,678



Depreciation


At 1 January 2024
9,220


Charge for the year on owned assets
1,531



At 31 December 2024

10,751



Net book value



At 31 December 2024
2,927



At 31 December 2023
4,458


5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
134,999
127,755

Other debtors
6,909
9,039

Prepayments and accrued income
6,119
17,220

148,027
154,014


Amounts owed by group undertakings are unsecured, interest free and have no fixed date of repayment. These amounts are repayable on demand.

Page 8

 
SIGI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,059
6,171

Amounts owed to group undertakings
237,251
237,501

Corporation tax
18,016
18,434

Other taxation and social security
8,296
5,642

Other creditors
8,413
5,392

Accruals and deferred income
23,488
23,013

299,523
296,153


Amounts owed to group undertakings are unsecured, interest free and have no fixed date of repayment. These amounts are repayable on demand.


7.


Deferred taxation




2024
2023


£

£






At beginning of year
(640)
(959)


Credited to profit or loss
337
319



At end of year
(303)
(640)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(303)
(640)

(303)
(640)

Page 9

 
SIGI LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Controlling party

The immediate parent undertaking is SIGI Holding AB, a company incorporated in Sweden.
The parent of the smallest group of undertakings for which group accounts for the year ending 31 December 2024 have been drawn up and publicly available, is that headed SIGI Holding AB. The registered office address of SIGI Holdings AB is Box 1080, SE-262 21, Angelholm, Sweden. Copies of the group accounts are available from this address.
The ultimate controlling party is Zy-Ax Corporation Inc, a company registered in the United States of America.


9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 25 April 2025 by Stephen Hale (Senior Statutory Auditor) on behalf of S&W Partners Audit Limited.

Page 10