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 2021

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

BANKERS:

Santander UK plc

Bridle Road

Bootle

Liverpool

L30 4GB

FIXED ASSETS

Tangible assets

5

28,935

31,335

CURRENT ASSETS

Debtors

9,100

40,830

Cash at bank

126,498

129,846

135,598

170,676

CREDITORS

Amounts falling due within one year

22,427

89,321

NET CURRENT ASSETS

113,171

81,355

TOTAL ASSETS LESS CURRENT LIABILITIES

142,106

112,690

CREDITORS

Amounts falling due after more than one year

(28,666

)

-

PROVISIONS FOR LIABILITIES

(2,590

)

(2,860

)

NET ASSETS

110,850

109,830

CAPITAL AND RESERVES

Called up share capital

135

135

Retained earnings

110,715

109,695

SHAREHOLDERS' FUNDS

110,850

109,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 2021 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 and authorised for issue on 29 July 2022 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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, 25% on reducing balance and 15% 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

61,542

Additions

7,292

At 31 December 2021

68,834

DEPRECIATION

At 1 January 2021

30,207

Charge for year

9,692

At 31 December 2021

39,899

NET BOOK VALUE

At 31 December 2021

28,935

At 31 December 2020

31,335

6.	ULTIMATE CONTROLLING PARTY

The controlling party is M S C Burke.