Michael Siggs & Co Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09301577 (England and Wales)

MICHAEL SIGGS & CO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2022

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

M G Siggs

Ms S G Siggs

REGISTERED OFFICE:

12 Fitzwalter Road

Colchester

Essex

CO3 3SS

REGISTERED NUMBER:

09301577 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

-

427

-

427

CURRENT ASSETS

Debtors

6

3,565

11,232

Cash at bank

1,053

31,452

4,618

42,684

CREDITORS

Amounts falling due within one year

7

(2,124

)

(12,611

)

NET CURRENT ASSETS

2,494

30,073

TOTAL ASSETS LESS CURRENT LIABILITIES

2,494

30,500

PROVISIONS FOR LIABILITIES

-

(81

)

NET ASSETS

2,494

30,419

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,394

30,319

2,494

30,419

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 19 May 2023 and were signed on its behalf by:

M G Siggs - Director

1.	STATUTORY INFORMATION

Michael Siggs & Co 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.

For the purposes of presentation the financial statements are rounded to the nearest pound sterling (£).

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 and other sales taxes.

Goodwill

Goodwill is amortised evenly over the estimated useful life of five years with effect from the year ended 31 December 2015.

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.

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

-

20% on reducing balance

Financial instruments

Basic financial instruments are recognised at amortised cost.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2022

and 31 December 2022

8,400

AMORTISATION

At 1 January 2022

and 31 December 2022

8,400

NET BOOK VALUE

At 31 December 2022

-

At 31 December 2021

-

5.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 January 2022

1,299

Additions

564

Disposals

(1,203

)

At 31 December 2022

660

DEPRECIATION

At 1 January 2022

872

Charge for year

491

Eliminated on disposal

(703

)

At 31 December 2022

660

NET BOOK VALUE

At 31 December 2022

-

At 31 December 2021

427

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

-

5,271

Other debtors

3,565

5,961

3,565

11,232

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

-

5,616

Other creditors

2,124

6,995

2,124

12,611