Sisyphus Properties (1) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07746017

Unaudited Financial Statements for the Year Ended 31st August 2020

for

SISYPHUS PROPERTIES (1) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S Paice

Mr A Hayward Wright

REGISTERED OFFICE:

4 Clews Road

Redditch

Worcestershire

B98 7ST

REGISTERED NUMBER:

07746017

ACCOUNTANTS:

Hayward Wright Ltd

4 Clews Road

Redditch

Worcestershire

B98 7ST

CURRENT ASSETS

Debtors

4

36,253

1,053

Cash at bank

1,659

1,082

37,912

2,135

CREDITORS

Amounts falling due within one year

5

261

20,126

NET CURRENT ASSETS/(LIABILITIES)

37,651

(17,991

)

TOTAL ASSETS LESS CURRENT LIABILITIES

37,651

(17,991

)

CREDITORS

Amounts falling due after more than one year

6

50,000

-

NET LIABILITIES

(12,349

)

(17,991

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(12,449

)

(18,091

)

SHAREHOLDERS' FUNDS

(12,349

)

(17,991

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th November 2020 and were signed on its behalf by:

........................................................................

Mr A Hayward Wright - Director

1.	STATUTORY INFORMATION

Sisyphus Properties (1) Ltd is a private company, limited by shares , registered in Not specified/Other. 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 represents rent charged during the period.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

35,310

100

Directors' loan accounts

943

953

36,253

1,053

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

96

1

Other creditors

165

20,115

Directors' loan accounts

-

10

261

20,126

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 2-5 years

50,000

-

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Share capital 1

1

100

100