Sirius GL Ltd - Accounts to registrar (filleted) - small 18.2

Sirius GL Ltd - Accounts to registrar (filleted) - small 18.2

SIRIUS GL LTD - Company Information

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IRIS Accounts Production v21.2.0.376 SC579825 Board of Directors 1.1.20 31.12.20 31.12.20 0 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC5798252019-12-31SC5798252020-12-31SC5798252020-01-012020-12-31SC5798252018-12-31SC5798252019-01-012019-12-31SC5798252019-12-31SC579825ns16:Scotland2020-01-012020-12-31SC579825ns15:PoundSterling2020-01-012020-12-31SC579825ns11:Director12020-01-012020-12-31SC579825ns11:PrivateLimitedCompanyLtd2020-01-012020-12-31SC579825ns11:SmallEntities2020-01-012020-12-31SC579825ns11:AuditExempt-NoAccountantsReport2020-01-012020-12-31SC579825ns11:SmallCompaniesRegimeForDirectorsReport2020-01-012020-12-31SC579825ns11:SmallCompaniesRegimeForAccounts2020-01-012020-12-31SC579825ns11:FullAccounts2020-01-012020-12-31SC57982512020-01-012020-12-31SC579825ns11:Director22020-01-012020-12-31SC579825ns11:RegisteredOffice2020-01-012020-12-31SC579825ns6:CurrentFinancialInstruments2020-12-31SC579825ns6:CurrentFinancialInstruments2019-12-31SC579825ns6:ShareCapital2020-12-31SC579825ns6:ShareCapital2019-12-31SC579825ns6:RetainedEarningsAccumulatedLosses2020-12-31SC579825ns6:RetainedEarningsAccumulatedLosses2019-12-31SC579825ns6:IntangibleAssetsOtherThanGoodwill2020-01-012020-12-31SC579825ns6:ComputerEquipment2020-01-012020-12-31SC579825ns6:NetGoodwill2019-12-31SC579825ns6:NetGoodwill2020-01-012020-12-31SC579825ns6:NetGoodwill2020-12-31SC579825ns6:NetGoodwill2019-12-31SC579825ns6:ComputerEquipment2019-12-31SC579825ns6:ComputerEquipment2020-12-31SC579825ns6:ComputerEquipment2019-12-31SC579825ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-12-31SC579825ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-12-31
REGISTERED NUMBER: SC579825 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Sirius GL Ltd
Sirius GL Ltd (Registered number: SC579825)






Contents of the Financial Statements
for the Year Ended 31 December 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sirius GL Ltd

Company Information
for the Year Ended 31 December 2020







DIRECTORS: Mr G Masson
Mr L R Rivero





REGISTERED OFFICE: 17 Cairnhill Drive
Fraserburgh
Aberdeenshire
AB43 9ST





REGISTERED NUMBER: SC579825 (Scotland)





ACCOUNTANTS: SBP
Accountants
2 Cross Street
Fraserburgh
Aberdeenshire
AB43 9EQ
Page 1
Sirius GL Ltd (Registered number: SC579825)

Balance Sheet
31 December 2020

31.12.20 31.12.19
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 78,968 53,600
Tangible assets 5 2,723 2,079
81,691 55,679

CURRENT ASSETS
Debtors 6 230,097 11,138
Cash at bank 317,909 289,982
548,006 301,120
CREDITORS
Amounts falling due within one year 7 132,069 111,436
NET CURRENT ASSETS 415,937 189,684
TOTAL ASSETS LESS CURRENT
LIABILITIES
497,628
245,363

PROVISIONS FOR LIABILITIES 517 -
NET ASSETS 497,111 245,363

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 496,111 244,363
497,111 245,363

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 notes form part of these financial statements

Page 2 continued...
Sirius GL Ltd (Registered number: SC579825)

Balance Sheet - continued
31 December 2020


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 30 September 2021 and were signed on its behalf by:





Mr G Masson - Director


The notes form part of these financial statements

Page 3
Sirius GL Ltd (Registered number: SC579825)

Notes to the Financial Statements
for the Year Ended 31 December 2020

1. STATUTORY INFORMATION

Sirius GL Ltd is a private company, limited by shares , registered in Scotland. 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 amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

Intangible assets - fishing quota
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The fishing quota held is being amortised on a straight line basis over 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost and 25% on reducing balance

The depreciation policy for computer equipment was amended with effect from 1st January 2020 from 25% on reducing balance to 33.33% straight line. As a result of the change, additional depreciation of £400 was charged in the year.

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting 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.

Page 4 continued...
Sirius GL Ltd (Registered number: SC579825)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable /payable within one year
Debtors and creditors with no stated 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 costs.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Fishing
quota
£   
COST
At 1 January 2020 67,000
Additions 32,200
At 31 December 2020 99,200
AMORTISATION
At 1 January 2020 13,400
Amortisation for year 6,832
At 31 December 2020 20,232
NET BOOK VALUE
At 31 December 2020 78,968
At 31 December 2019 53,600

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2020 2,771
Additions 1,580
At 31 December 2020 4,351
DEPRECIATION
At 1 January 2020 692
Charge for year 936
At 31 December 2020 1,628
NET BOOK VALUE
At 31 December 2020 2,723
At 31 December 2019 2,079

Page 5 continued...
Sirius GL Ltd (Registered number: SC579825)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Trade debtors 126,974 7,500
Other debtors 103,123 3,638
230,097 11,138

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Trade creditors 2,977 8,618
Taxation and social security 127,592 98,533
Other creditors 1,500 4,285
132,069 111,436

8. RELATED PARTY DISCLOSURES

The directors operate current accounts with the company and as at 31st December 2020 the balance owed by Gary Masson to the company was £2,491 (2019 - £1,991) and the balance owed by Luis Rivero was £500. There are no fixed terms of repayment and no interest is accrued.

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.

Page 6