Sipsynergy Ltd - Abbreviated accounts


Registered number
07613922
Sipsynergy Ltd
Abbreviated Accounts
30 June 2015
Sipsynergy Ltd
Registered number: 07613922
Abbreviated Balance Sheet
as at 30 June 2015
Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 343,851 128,747
Current assets
Debtors 130,264 123,436
Cash at bank and in hand 25,305 31,982
155,569 155,418
Creditors: amounts falling due within one year (129,502) (168,344)
Net current assets/(liabilities) 26,067 (12,926)
Total assets less current liabilities 369,918 115,821
Creditors: amounts falling due after more than one year (170,065) -
Provisions for liabilities (50,770) (5,749)
Net assets 149,083 110,072
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 148,983 109,972
Shareholders' funds 149,083 110,072
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
John Fox
Director
Approved by the board on 26 November 2015
Sipsynergy Ltd
Notes to the Abbreviated Accounts
for the year ended 30 June 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% -33% straight line
Motor vehicles 25% straight line
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Tangible fixed assets £
Cost
At 1 July 2014 145,488
Additions 295,197
At 30 June 2015 440,685
Depreciation
At 1 July 2014 16,741
Charge for the year 80,093
At 30 June 2015 96,834
Net book value
At 30 June 2015 343,851
At 30 June 2014 128,747
3 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
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