SIDNEY MICHAEL LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00378307

SIDNEY MICHAEL LIMITED

Filleted Unaudited Financial Statements

31 March 2025

SIDNEY MICHAEL LIMITED

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Investments	6		3,500,000	3,500,467

Current assets

Cash at bank and in hand	765,931		633,396

Creditors: amounts falling due within one year	7	74,863		58,731
		---------		---------
Net current assets			691,068	574,665
			------------	------------
Total assets less current liabilities			4,191,068	4,075,132

Provisions

Taxation including deferred tax	650,000	650,000
	------------	------------
Net assets	3,541,068	3,425,132
	------------	------------

Capital and reserves

Called up share capital		3,000	3,000
Fair value reserve	9	2,796,411	2,796,411
Other reserves	9	610	610
Profit and loss account	9	741,047	625,111
		------------	------------
Shareholders funds		3,541,068	3,425,132
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SIDNEY MICHAEL LIMITED

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 10 December 2025 , and are signed on behalf of the board by:

M S Rothberg

Director

Company registration number: 00378307

SIDNEY MICHAEL LIMITED

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 48 Winnington Road, London, N2 0TY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents the amount of rents receivable during the year.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Investments

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without any undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	699	699
	----	----
Depreciation
At 1 April 2024 and 31 March 2025	699	699
	----	----
Carrying amount
At 31 March 2025	–	–
	----	----
At 31 March 2024	–	–
	----	----

6. Investments

	Quoted investment	Investment property	Total
	£	£	£
Cost
At 1 April 2024	467	3,500,000	3,500,467
Disposals	( 467)	–	( 467)
	----	------------	------------
At 31 March 2025	–	3,500,000	3,500,000
	----	------------	------------
Impairment
At 1 April 2024 and 31 March 2025	–	–	–
	----	------------	------------

Carrying amount
At 31 March 2025	–	3,500,000	3,500,000
	----	------------	------------
At 31 March 2024	467	3,500,000	3,500,467
	----	------------	------------

The 2017 valuations were made by the directors, on an open market value for existing use basis.

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	51,181	24,477
Other creditors	23,682	34,254
	--------	--------
	74,863	58,731
	--------	--------

8. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	650,000	650,000
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Fair value adjustment of investment property	650,000	650,000
	---------	---------

9. Reserves

Fair value reserve This non-distributable reserve is used to record increases in the fair value of freehold investment properties and decreases to the extent that such decreases relate to the increase on the same asset. The figure is stated net of the associated deferred tax liability. Profit and loss account This is the distributable reserve represented by the retained profit and loss.