SIP Hus Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09925597 (England and Wales)

SIP Hus Ltd

Unaudited Financial Statements for the Year Ended 31 December 2018

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M S C Burke

K L Burke

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

09925597 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

FIXED ASSETS

Tangible assets

4

26,261

12,989

CURRENT ASSETS

Debtors

13,418

23,461

Cash at bank

88,204

66,007

101,622

89,468

CREDITORS

Amounts falling due within one year

42,789

34,660

NET CURRENT ASSETS

58,833

54,808

TOTAL ASSETS LESS CURRENT LIABILITIES

85,094

67,797

CREDITORS

Amounts falling due after more than one year

(6,889

)

(7,768

)

PROVISIONS FOR LIABILITIES

(1,469

)

(2,468

)

NET ASSETS

76,736

57,561

CAPITAL AND RESERVES

Called up share capital

135

135

Retained earnings

76,601

57,426

SHAREHOLDERS' FUNDS

76,736

57,561

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 30 September 2019 and were signed on its behalf by:

M S C Burke - Director

1.	STATUTORY INFORMATION

SIP Hus Ltd 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.

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.

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 machinery etc

-

33% on cost and 25% on reducing balance

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

21,896

Additions

22,251

At 31 December 2018

44,147

DEPRECIATION

At 1 January 2018

8,907

Charge for year

8,979

At 31 December 2018

17,886

NET BOOK VALUE

At 31 December 2018

26,261

At 31 December 2017

12,989

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2018 and

31 December 2017:

31.12.18

31.12.17

£

£

M S C Burke

Balance outstanding at start of year

6,896

(834

)

Amounts advanced

-

7,730

Amounts repaid

(23,365

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(16,469

)

6,896

6.	ULTIMATE CONTROLLING PARTY

The controlling party is M S C Burke.