REGISTERED NUMBER: 10242553 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

SIS Global Seating Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P D Williams

Mrs M L Williams

REGISTERED OFFICE:

11 Kings Hill Industrial Estate

Bude

Cornwall

EX23 8QN

REGISTERED NUMBER:

10242553 (England and Wales)

ACCOUNTANTS:

A C Mole LLP

Stafford House

Blackbrook Park Avenue

Taunton

Somerset

TA1 2PX

FIXED ASSETS

Intangible assets

4

50,094

78,296

Tangible assets

5

16,899

28,647

66,993

106,943

CURRENT ASSETS

Stocks

6

127,591

68,591

Debtors

7

249,127

254,132

Cash at bank

108,761

122,157

485,479

444,880

CREDITORS

Amounts falling due within one year

8

366,657

397,930

NET CURRENT ASSETS

118,822

46,950

TOTAL ASSETS LESS CURRENT LIABILITIES

185,815

153,893

PROVISIONS FOR LIABILITIES

9

3,380

5,729

NET ASSETS

182,435

148,164

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

182,335

148,064

182,435

148,164

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 5 September 2025 and were signed on its behalf by:

P D Williams - Director

Mrs M L Williams - Director

1.	STATUTORY INFORMATION

SIS Global Seating Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Where contracts for services span a number of accounting periods turnover is recognised based on the services delivered by the balance sheet date. Services which are in progress at the year end are included in contract work in progress in stock. Deposits received in advance are included within creditors.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The company capitalises development costs where there is a clearly defined project, the project revenues are expected to exceed total development costs and the recognition criteria of FRS102 (section 1A) are met. Such costs are amortised over the life of the project, being 3 years. Amortisation starts once product sales commence. Development costs which do not meet these criteria are written off to the profit and loss as incurred.

Development costs are initially measured at cost and subsequently measured at amortised cost.

Tangible fixed assets

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

Plant and equipment - between 15% and 33% on cost of reducing balance dependent on the asset

Fixtures and fittings - 20% on cost

Computer equipment - 33% on cost

Fixed assets are initially recorded at cost, and subsequently measured at cost less accumulated depreciation.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments

Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price. Such assets are subsequently carried at amortised cost.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. Any impairment losses are recognised in profit or loss.

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price. Trade and other creditors are measured at amortised cost using the effective interest method. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

78,297

AMORTISATION

At 1 April 2024

1

Charge for year

28,202

At 31 March 2025

28,203

NET BOOK VALUE

At 31 March 2025

50,094

At 31 March 2024

78,296

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

115,161

Additions

3,653

Disposals

(516

)

At 31 March 2025

118,298

DEPRECIATION

At 1 April 2024

86,514

Charge for year

15,401

Eliminated on disposal

(516

)

At 31 March 2025

101,399

NET BOOK VALUE

At 31 March 2025

16,899

At 31 March 2024

28,647

6.

STOCKS

2025

2024

£

£

Stocks

99,689

37,894

Work-in-progress

27,902

30,697

127,591

68,591

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

45,711

127,831

Amounts owed by group undertakings

113,551

31,892

Other debtors

38,703

43,062

Tax

-

10,699

VAT

18,333

-

Prepayments

32,829

40,648

249,127

254,132

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

110,781

53,943

Amounts owed to group undertakings

93,007

159,272

Tax

2,628

-

Social security and other taxes

7,809

6,920

VAT

-

33,402

Other creditors

1,369

-

Customer deposits

59,539

97,583

Accrued expenses

91,524

46,810

366,657

397,930

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

3,380

5,729

Deferred

tax

£

Balance at 1 April 2024

5,729

Utilised during year

(2,349

)

Balance at 31 March 2025

3,380

Deferred tax is in respect of timing differences caused by accelerated capital allowances. A deferred tax asset is separately recognised in respect of brought forward trading losses.

10.	RELATED PARTY DISCLOSURES

The company has not entered into any transactions with related parties other than under normal market conditions, in the current or preceding year.

11.	PARENT COMPANY

The ultimate parent company is PNM Management Limited. The parent company's registered office is

Cobar Chase, The Street, Luckington, Wiltshire, England, SN14 6NP

The ultimate controlling party is the directors.