Sibar Associates Limited - Accounts to registrar (filleted) - small 18.2
Sibar Associates Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2021 |
| for |
| Sibar Associates Limited |
| Sibar Associates Limited (Registered number: 10225970) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Sibar Associates Limited |
| Company Information |
| for the Year Ended 31 December 2021 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Reedham House |
| 31 King Street West |
| Manchester |
| M3 2PJ |
| Sibar Associates Limited (Registered number: 10225970) |
| Balance Sheet |
| 31 December 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 8 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| Sibar Associates Limited (Registered number: 10225970) |
| Balance Sheet - continued |
| 31 December 2021 |
| 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 director and authorised for issue on |
| Sibar Associates Limited (Registered number: 10225970) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2021 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Fixed asset investments |
| Other fixed asset investments are shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in statement of comprehensive income. |
| Going concern |
| The company's financial statements for the year ended 31st December 2021 have been prepared on a going concern basis as after making appropriate enquiries the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Sibar Associates Limited (Registered number: 10225970) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 3. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2021 |
| Additions |
| At 31 December 2021 |
| DEPRECIATION |
| At 1 January 2021 |
| Charge for year |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| 4. | FIXED ASSET INVESTMENTS |
| Listed | Unlisted |
| investments | investments | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2021 | 106,531 |
| Additions | 33,523 |
| Revaluations | 11,796 |
| At 31 December 2021 | 151,850 |
| NET BOOK VALUE |
| At 31 December 2021 | 151,850 |
| At 31 December 2020 | 106,531 |
| Cost or valuation at 31 December 2021 is represented by: |
| Listed | Unlisted |
| investments | investments | Totals |
| £ | £ | £ |
| Valuation in 2020 | 16,254 | - | 16,254 |
| Valuation in 2021 | 11,796 | - | 11,796 |
| Cost | 90,277 | 33,523 | 123,800 |
| 118,327 | 33,523 | 151,850 |
| Sibar Associates Limited (Registered number: 10225970) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 4. | FIXED ASSET INVESTMENTS - continued |
| If fixed asset investments had not been revalued they would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 123,800 | 90,277 |
| Fixed asset investments were valued on an open market basis on 31 December 2021 by McInroy & Wood . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| 8. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 January 2021 |
| Unrealised gain on investments | 11,796 |
| Deferred taxation | (2,241 | ) |
| At 31 December 2021 |
| Sibar Associates Limited (Registered number: 10225970) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 9. | RELATED PARTY DISCLOSURES |
| Included within other creditors is the director's current account balance of £163,082 (2020: £21,440). There are no fixed repayment term and no interest is chargeable to the company in respect of this balance. |
| Included within other debtors is a loan amounting to £58,344 (2020: £56,100) due from a company in which the director of the company is also a director and shareholder. There are no fixed repayment terms and interest at 4% per annum will be chargeable by the company in respect of this balance. |