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Registration number: 07258808

SIYONA TECH LTD

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

SIYONA TECH LTD

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

SIYONA TECH LTD

Company Information

Director

Mr S Mohapatra

Registered office

Platf9rm
Floor 5 & 6 44 North Road
Brighton
BN1 1YR

Accountants

TMF Accountants Ltd 3rd Floor Westside London
57 Poland Street
London
W1F 7NW

 

SIYONA TECH LTD

(Registration number: 07258808)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

14,579

17,677

Current assets

 

Debtors

5

(7,506)

190,465

Cash at bank and in hand

 

9,712

61

 

2,206

190,526

Creditors: Amounts falling due within one year

6

(473,317)

(766,296)

Net current liabilities

 

(471,111)

(575,770)

Total assets less current liabilities

 

(456,532)

(558,093)

Creditors: Amounts falling due after more than one year

6

(88,776)

(94,387)

Net liabilities

 

(545,308)

(652,480)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(545,310)

(652,482)

Shareholders' deficit

 

(545,308)

(652,480)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 June 2025
 

.........................................
Mr S Mohapatra
Director

 

SIYONA TECH LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Platf9rm
Floor 5 & 6 44 North Road
Brighton
BN1 1YR
England

These financial statements were authorised for issue by the director on 11 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

SIYONA TECH LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

20% reducing balance

Office equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

SIYONA TECH LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 11).

 

SIYONA TECH LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

8,361

80,051

88,412

Additions

-

548

548

At 30 September 2024

8,361

80,599

88,960

Depreciation

At 1 October 2023

7,544

63,191

70,735

Charge for the year

164

3,482

3,646

At 30 September 2024

7,708

66,673

74,381

Carrying amount

At 30 September 2024

653

13,926

14,579

At 30 September 2023

817

16,860

17,677

5

Debtors

Current

2024
£

2023
£

Trade debtors

(14,925)

178,800

Other debtors

7,419

11,665

 

(7,506)

190,465

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

72

26,170

Trade creditors

 

34,010

165,972

Taxation and social security

 

10,244

7,957

Other creditors

 

428,991

566,197

 

473,317

766,296

 

SIYONA TECH LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

88,776

94,387

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share of £0.01 each

200

2

200

2

       

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

36,076

41,687

Other borrowings

52,700

52,700

88,776

94,387

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

72

26,170