Seide Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09062714 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

FOR

SEIDE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Cappello

A Ismailov

REGISTERED OFFICE:

Plantworks

1a Brittania Street

London

WC1X 9JT

REGISTERED NUMBER:

09062714 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Intangible assets

4

73,213

32,503

Tangible assets

5

-

-

Investments

6

345,766

345,766

418,979

378,269

CURRENT ASSETS

Debtors

7

50

50

Cash at bank

31,623

13,026

31,673

13,076

CREDITORS

Amounts falling due within one year

8

67,839

24,840

NET CURRENT LIABILITIES

(36,166

)

(11,764

)

TOTAL ASSETS LESS CURRENT LIABILITIES

382,813

366,505

CREDITORS

Amounts falling due after more than one year

9

75,320

38,257

NET ASSETS

307,493

328,248

CAPITAL AND RESERVES

Called up share capital

10

129

129

Share premium

1,235,691

1,235,691

Other reserves

25,409

16,733

Retained earnings

(953,736

)

(924,305

)

SHAREHOLDERS' FUNDS

307,493

328,248

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 10 May 2023 and were signed on its behalf by:

C Cappello - Director

1.	STATUTORY INFORMATION

Seide 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.	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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Intangible assets

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.

Computer software is being amortised over the estimate useful life of 5 years using reducing balance.

Tangible fixed assets

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

Office equipment : 3 to 5 years straight line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS102.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into US dollars ($) at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US dollars ($) at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

$

COST

At 1 June 2021

62,067

Additions

43,000

At 31 May 2022

105,067

AMORTISATION

At 1 June 2021

29,564

Charge for year

2,290

At 31 May 2022

31,854

NET BOOK VALUE

At 31 May 2022

73,213

At 31 May 2021

32,503

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

$

COST

At 1 June 2021

and 31 May 2022

2,950

DEPRECIATION

At 1 June 2021

and 31 May 2022

2,950

NET BOOK VALUE

At 31 May 2022

-

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

$

COST

At 1 June 2021

and 31 May 2022

345,766

NET BOOK VALUE

At 31 May 2022

345,766

At 31 May 2021

345,766

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

as restated

$

$

Other debtors

50

50

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

as restated

$

$

Trade creditors

2,039

3,785

Amounts owed to group undertakings

65,800

21,055

67,839

24,840

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.22

31.5.21

as restated

$

$

Other creditors

75,320

38,257

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.22

31.5.21

value:

as restated

$

$

6,000

Ordinary

0.01

60

60

6,905

Preference

0.01

69

69

129

129

11.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.