REGISTERED NUMBER: 10225970 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Sibar Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S R Newton

SECRETARY:

S R Newton

REGISTERED OFFICE:

FFT

Reedham House

31 King Street West

Manchester

Greater Manchester

M3 2PJ

REGISTERED NUMBER:

10225970 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Tangible assets

3

10,043

5,009

Investments

4

101,199

155,833

111,242

160,842

CURRENT ASSETS

Debtors

5

-

57,911

Cash at bank

36,945

9,228

36,945

67,139

CREDITORS

Amounts falling due within one year

6

(116,855

)

(154,800

)

NET CURRENT LIABILITIES

(79,910

)

(87,661

)

TOTAL ASSETS LESS CURRENT LIABILITIES

31,332

73,181

CREDITORS

Amounts falling due after more than one year

7

(5,258

)

(18,382

)

PROVISIONS FOR LIABILITIES

(2,511

)

(4,621

)

NET ASSETS

23,563

50,178

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

23,561

50,176

SHAREHOLDERS' FUNDS

23,563

50,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

S R Newton - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Tangible fixed assets are recorded at cost less accumulated depreciation and accumulated impairment losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Other fixed asset investments are shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss account.

Going concern

The company's financial statements for the year ended 31st December 2024 have been prepared on a going concern basis as after making appropriate enquiries the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

6,228

4,588

10,816

Additions

6,825

-

6,825

At 31 December 2024

13,053

4,588

17,641

DEPRECIATION

At 1 January 2024

2,906

2,901

5,807

Charge for year

840

951

1,791

At 31 December 2024

3,746

3,852

7,598

NET BOOK VALUE

At 31 December 2024

9,307

736

10,043

At 31 December 2023

3,322

1,687

5,009

4.	FIXED ASSET INVESTMENTS

Listed

Unlisted

investments

investments

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

119,247

36,586

155,833

Additions

-

3,427

3,427

Disposals

(57,733

)

-

(57,733

)

Revaluations

(328

)

-

(328

)

At 31 December 2024

61,186

40,013

101,199

NET BOOK VALUE

At 31 December 2024

61,186

40,013

101,199

At 31 December 2023

119,247

36,586

155,833

Cost or valuation at 31 December 2024 is represented by:

Listed

Unlisted

investments

investments

Totals

£

£

£

Valuation in 2020

16,254

-

16,254

Valuation in 2021

11,796

-

11,796

Valuation in 2022

(4,989

)

-

(4,989

)

Valuation in 2023

5,909

-

5,909

Valuation in 2024

1,939

-

1,939

Cost

30,277

40,013

70,290

61,186

40,013

101,199

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

70,290

126,863

Fixed asset investments were valued on an open market basis on 31 December 2024 by McInroy & Wood .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

57,911

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,381

7,383

Taxation and social security

25,073

38,216

Other creditors

81,401

109,201

116,855

154,800

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

5,258

18,382

8.	RELATED PARTY DISCLOSURES

Included within other creditors is the director's current account balance of £79,600 (2023: £87,002). There are no fixed repayment term and no interest is chargeable to the company in respect of this balance.