SIA Appliances Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08134062 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

SIA Appliances Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

CURRENT ASSETS

Stocks

-

550

Debtors

4

614,345

361,851

Cash at bank

57,515

236,467

671,860

598,868

CREDITORS

Amounts falling due within one year

5

641,110

472,534

NET CURRENT ASSETS

30,750

126,334

TOTAL ASSETS LESS CURRENT LIABILITIES

30,750

126,334

CREDITORS

Amounts falling due after more than one year

6

30,000

40,000

NET ASSETS

750

86,334

CAPITAL AND RESERVES

Called up share capital

8

100

100

Capital redemption reserve

5

-

Retained earnings

645

86,234

SHAREHOLDERS' FUNDS

750

86,334

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:

S Johnson - Director

1.	STATUTORY INFORMATION

SIA Appliances Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08134062

Registered office:

Unit 8

Centenary Park

Coronet Way

Salford

Greater Manchester

M50 1RE

The presentation currency of the financial statements is the 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 represents net invoiced sales of goods and marketing services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

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 Profit and Loss Account, 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 sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

38,794

75,239

Amounts owed by group undertakings

534,769

-

Other debtors

40,782

286,612

614,345

361,851

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

114,999

203,860

Amounts owed to group undertakings

382,050

-

Taxation and social security

4,934

15,022

Other creditors

129,127

243,652

641,110

472,534

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

30,000

40,000

7.	SECURED DEBTS

A fixed and floating charge over all company assets and undertakings is held by Lloyds Bank commercial finance Ltd, this charge contains a negative pledge.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

35

"A" Ordinary

£1

35

30

5

"B" Ordinary

£1

5

5

25

"C" Ordinary

£1

25

25

35

"D" Ordinary

£1

35

40

100

100

During the year, the following events have occurred:

On 12 January 2022, the company bought back and cancelled 2 B Ordinary shares.

On 26 January 2022, the company bought back and cancelled 2 B Ordinary shares.

On 27 January 2022, the company bought back and cancelled 1 B Ordinary share.

On 18 February 2022, the company issued 5 E Ordinary shares of £1.

On 1 March 2022, the company reclassified 5 E Ordinary shares to B Ordinary shares.

On 1 March 2022, the company reclassified 5 D Ordinary shares to A Ordinary shares.

9.	OTHER FINANCIAL COMMITMENTS

The group has entered into a multilateral guarantee with the Lloyds Bank commercial finance Ltd as follows:

Debentures consisting of fixed and floating charged over all the assets and undertaking of the reporting entity, OEM Appliances, Coolmed Limited, Xingbang UK Limited, Ship It Appliances Limited, For Everyone Group Ltd, Evec Ltd, CWW Holdings Limited and Coolmed Calibration Ltd.

10.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking and controlling party is For Everyone Group Limited. The registered office of For Everyone Group Limited is Unit 8 Centenary Park, Coronet Way, Salford, Greater Manchester, England, M50 1RE.