Sico International Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03552091 (England and Wales)

SICO INTERNATIONAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A. Azizollahoff

J A Azizollahoff

SECRETARY:

J A Azizollahoff

REGISTERED OFFICE:

39 Greville Street

2nd floor

London

EC1N 8PJ

REGISTERED NUMBER:

03552091 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

Second Floor

34 Lime Street

London

EC3M 7AT

FIXED ASSETS

Tangible assets

4

4,334

4,129

CURRENT ASSETS

Stocks

835,460

921,720

Debtors

5

33,785

54,556

Cash at bank

466,703

244,290

1,335,948

1,220,566

CREDITORS

Amounts falling due within one year

6

176,842

106,453

NET CURRENT ASSETS

1,159,106

1,114,113

TOTAL ASSETS LESS CURRENT LIABILITIES

1,163,440

1,118,242

CAPITAL AND RESERVES

Called up share capital

7

120

120

Retained earnings

1,163,320

1,118,122

SHAREHOLDERS' FUNDS

1,163,440

1,118,242

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 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 27th April 2023 and were signed on its behalf by:

Mr A. Azizollahoff - Director

1.	STATUTORY INFORMATION

Sico International 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

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 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.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33.33% straight line on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into Sterling at rates of exchange published by HMRC. Transactions in foreign currencies are recorded at the HMRC published rates ruling at the date of the transaction.

Exchange differences are taken to profit and loss account.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no state 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 expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st October 2021

22,605

1,390

23,995

Additions

-

2,204

2,204

At 30th September 2022

22,605

3,594

26,199

DEPRECIATION

At 1st October 2021

19,403

463

19,866

Charge for year

801

1,198

1,999

At 30th September 2022

20,204

1,661

21,865

NET BOOK VALUE

At 30th September 2022

2,401

1,933

4,334

At 30th September 2021

3,202

927

4,129

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

33,785

54,556

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

68,379

38,846

Taxation and social security

72,013

55,464

Other creditors

36,450

12,143

176,842

106,453

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

84

'A' Preferential shares

£1

84

84

16

'B' Ordinary shares

£1

16

16

20

'C' Ordinary shares

£1

20

20

120

120