Sicoda Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11303902 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2022

for

Sicoda Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs T C Sanders

D Appleby

C Appleby

REGISTERED OFFICE:

1 Bickenhall Mansions

Bickenhall Street

London

W1U 6BP

REGISTERED NUMBER:

11303902 (England and Wales)

ACCOUNTANTS:

RR Accountancy Ltd

Chartered Accountant

32 Leicester Street

Melton Mowbray

Leicestershire

LE13 0PP

FIXED ASSETS

Tangible assets

4

14,458

16,329

Investment property

5

550,000

495,000

564,458

511,329

CURRENT ASSETS

Debtors

6

2,675

5,475

Cash at bank

20,499

4,950

23,174

10,425

CREDITORS

Amounts falling due within one year

7

50,197

455,393

NET CURRENT LIABILITIES

(27,023

)

(444,968

)

TOTAL ASSETS LESS CURRENT LIABILITIES

537,435

66,361

CREDITORS

Amounts falling due after more than one year

8

(416,050

)

-

PROVISIONS FOR LIABILITIES

9

(26,000

)

(13,878

)

NET ASSETS

95,385

52,483

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

95,383

52,481

95,385

52,483

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 January 2023 and were signed on its behalf by:

Mrs T C Sanders - Director

1.	STATUTORY INFORMATION

Sicoda 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting

Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the

Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure

requirements of section 1A of FRS 102 have been applied other than where additional disclosure is

required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the

revaluation of freehold properties and to include investment properties and certain financial instruments at

fair value. The principal accounting policies adopted are set out below

Turnover

Turnover represents the value of rents receivable (net of any incentives) during the accounting period.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially

recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in

income statement.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as

reported in the income statement because it excludes items of income or expense that are taxable or

deductible in other years and it further excludes items that are never taxable or deductible. The company’s

liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the

reporting end date

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are

recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax

liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference

arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects

neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the

extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the

asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period

when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income

statement, except when it relates to items charged or credited directly to equity, in which case the deferred

tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally

enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate

to taxes levied by the same tax authority.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2021

and 30 April 2022

16,747

DEPRECIATION

At 1 May 2021

418

Charge for year

1,871

At 30 April 2022

2,289

NET BOOK VALUE

At 30 April 2022

14,458

At 30 April 2021

16,329

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2021

495,000

Revaluations

55,000

At 30 April 2022

550,000

NET BOOK VALUE

At 30 April 2022

550,000

At 30 April 2021

495,000

Fair value at 30 April 2022 is represented by:

£

Valuation in 2022

550,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

-

1,250

Other debtors

2,675

4,225

2,675

5,475

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

9,796

2,052

Taxation and social security

(1,789

)

2,722

Other creditors

42,190

450,619

50,197

455,393

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

416,050

-

9.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

26,000

13,878

Deferred

tax

£

Balance at 1 May 2021

13,878

Provided during year

12,122

Balance at 30 April 2022

26,000