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Registered Number: 08178422
England and Wales

 

 

 

SIBS LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Directors SACHIN SINHA
HENRIETT KRISTOF
Registered Number 08178422
Registered Office 12 CHICHESTER WAY
LONDON
E14 3EG
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 August 2024.
Principal activities
Principal activity of the company during the financial year was of providing information technology consultancy.
Directors
The directors who served the company throughout the year were as follows:
Shares (%)
SACHIN SINHA (from 14/08/2012)1.00
HENRIETT KRISTOF (from 08/09/2023)1.00
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
SACHIN SINHA
Director

Date approved: 31 August 2025
2
 
 
Notes
 
2024
£
  2023
£
Turnover 175,889    168,973 
Gross profit 175,889    168,973 
Selling and distribution costs (1,129)   (1,098)
Administrative expenses (135,017)   (131,191)
Operating profit 39,743    36,684 
Profit/(Loss) on ordinary activities before taxation 39,743    36,684 
Tax on profit on ordinary activities (7,551)   (6,970)
Profit/(Loss) for the financial year 32,192    29,714 
 
3
 
 
Notes
 
2024
£
  2023
£
Current assets      
Debtors 3 28,414    35,600 
Cash at bank and in hand 28,565    24,622 
56,979    60,222 
Creditors: amount falling due within one year 4 (24,319)   (11,299)
Net current assets 32,660    48,923 
 
Total assets less current liabilities 32,660    48,923 
Creditors: amount falling due after more than one year 5 (10,457)   (14,912)
Net assets 22,203    34,011 
 

Capital and reserves
     
Called up share capital 6 2    2 
Profit and loss account 22,201    34,009 
Shareholders' funds 22,203    34,011 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 31 August 2025 and were signed on its behalf by:


-------------------------------
SACHIN SINHA
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 September 2022 2  31,263  31,265 
Profit for the year 29,714  29,714 
Total comprehensive income for the year 29,714  29,714 
Dividends (26,968) (26,968)
Total investments by and distributions to owners (26,968) (26,968)
At 31 August 2023 2  34,009  34,011 
At 01 September 2023 2  34,009  34,011 
Profit for the year 32,192  32,192 
Total comprehensive income for the year 32,192  32,192 
Dividends (44,000) (44,000)
Total investments by and distributions to owners (44,000) (44,000)
At 31 August 2024 2  22,201  22,203 
5
General Information
SIBS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08178422, registration address 12 CHICHESTER WAY, LONDON, E14 3EG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Debtors: amounts falling due within one year

2024
£
  2023
£
Amount Owed by Participating Interests 24,414    17,600 
Other Debtors 4,000    18,000 
28,414    35,600 

4.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 899   
Corporation Tax 14,521    6,970 
PAYE & Social Security 3,933    73 
Accrued Expenses 2,200   
Wages & Salaries Control Account 1,884   
VAT 882    4,256 
24,319    11,299 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 8,893    14,626 
Other Creditors (1)   (1)
Directors' Loan Accounts 1,565    287 
10,457    14,912 

6.

Share Capital

Authorised
1,000 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

6