Sico International Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03552091 (England and Wales)

SICO INTERNATIONAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A. Azizollahoff

J A Azizollahoff

SECRETARY:

J A Azizollahoff

REGISTERED OFFICE:

39 Greville Street

2nd floor

London

EC1N 8PJ

REGISTERED NUMBER:

03552091 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

39A Welbeck Street

London

W1G 8DH

FIXED ASSETS

Tangible assets

4

3,000

4,046

CURRENT ASSETS

Stocks

948,700

890,205

Debtors

5

96,519

29,948

Cash at bank and in hand

310,414

373,050

1,355,633

1,293,203

CREDITORS

Amounts falling due within one year

6

300,502

288,412

NET CURRENT ASSETS

1,055,131

1,004,791

TOTAL ASSETS LESS CURRENT LIABILITIES

1,058,131

1,008,837

CAPITAL AND RESERVES

Called up share capital

7

120

120

Retained earnings

1,058,011

1,008,717

SHAREHOLDERS' FUNDS

1,058,131

1,008,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2019 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 6th May 2020 and were signed on its behalf by:

A. Azizollahoff - Director

1.	STATUTORY INFORMATION

Sico International 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 (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These

policies have been consistently applied to all periods presented unless otherwise stated.

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.

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks 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

Monetary assets and liabilities denominated in foreign currencies are translated into Sterling at rates of exchange

published by HMRC. Transactions in foreign currencies are recorded at the HMRC published rates ruling at the date of the

transaction.

Exchange differences are taken to profit and loss account.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no state interest rate and receivable or payable within one year, are recorded at transaction

price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st October 2018

and 30th September 2019

19,911

DEPRECIATION

At 1st October 2018

15,865

Charge for year

1,046

At 30th September 2019

16,911

NET BOOK VALUE

At 30th September 2019

3,000

At 30th September 2018

4,046

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

94,738

28,481

Other debtors

1,781

1,467

96,519

29,948

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

206,162

225,176

Taxation and social security

37,198

57,400

Other creditors

57,142

5,836

300,502

288,412

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

84

'A' Preferential shares

£1

84

84

16

'B' Ordinary shares

£1

16

16

20

'C' Ordinary shares

£1

20

20

120

120