SIFTLORD SECURITIES LIMITED

SIFTLORD SECURITIES LIMITED - Company Information

2022-07-012023-06-302023-06-30false01797658SIFTLORD SECURITIES 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Registered Number
01797658
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

SIFTLORD SECURITIES LIMITED

Company Information
for the year from 1 July 2022 to 30 June 2023


Director	FARAZMAND, Jonathan Cyrus


Company Secretary	FARAZMAND, Susan Jane


Registered Address	242a Canbury Park Road
	Kingston On Thames
	Surrey
	KT2 6LG


Registered Number	01797658 (England and Wales)

SIFTLORD SECURITIES LIMITED

Statement of Financial Position
30 June 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	3		267,839		275,256
			267,839		275,256
Current assets
Stocks	4	163,691		135,972
Debtors		13,925		10,000
Cash at bank and on hand		634,962		617,596
		812,578		763,568
Creditors amounts falling due within one year	6	(86,118)		(102,516)
Net current assets (liabilities)			726,460		661,052
Total assets less current liabilities			994,299		936,308
Creditors amounts falling due after one year	7		(20,834)		(30,834)
Provisions for liabilities	8		(7,449)		(14,664)
Net assets			966,016		890,810
Capital and reserves
Called up share capital			100		100
Profit and loss account			965,916		890,710
Shareholders' funds			966,016		890,810

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Director on 27 February 2024, and are signed on its behalf by:

FARAZMAND, Jonathan Cyrus
Director
Registered Company No. 01797658

SIFTLORD SECURITIES LIMITED

Notes to the Financial Statements
for the year ended 30 June 2023

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	The directors are of the opinion that no depreciation of the freehold land or improvements to property is necessary since the estimated useful economic life of the property exceeds 50 years.


	Reducing balance (%)	Straight line (years)
Plant and machinery	25	-
Vehicles	25	-
Office Equipment	25	10

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2023		2022
	Average number of employees during the year	6		7

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 July 22	196,997	148,667	77,575	57,099	480,338
Additions	-	6,661	-	1,300	7,961
At 30 June 23	196,997	155,328	77,575	58,399	488,299
Depreciation and impairment
At 01 July 22	-	134,574	48,720	21,788	205,082
Charge for year	-	5,189	5,854	4,336	15,379
Other adjustments	-	-	(1)	-	(1)
At 30 June 23	-	139,763	54,573	26,124	220,460
Net book value
At 30 June 23	196,997	15,565	23,002	32,275	267,839
At 30 June 22	196,997	14,093	28,855	35,311	275,256

4.	Stocks

	2023	2022
	£	£
Other stocks	163,691	135,972
Total	163,691	135,972

5.	Debtors: amounts due within one year

	2023	2022
	£	£
Trade debtors / trade receivables	3,527	-
Prepayments and accrued income	10,398	10,000
Total	13,925	10,000

6.	Creditors: amounts due within one year

	2023	2022
	£	£
Trade creditors / trade payables	22,189	19,729
Bank borrowings and overdrafts	10,000	10,000
Taxation and social security	42,075	29,401
Other creditors	6,865	38,807
Accrued liabilities and deferred income	4,989	4,579
Total	86,118	102,516

7.	Creditors: amounts due after one year

	2023	2022
	£	£
Bank borrowings and overdrafts	20,834	30,834
Total	20,834	30,834

8.	Provisions for liabilities

	2023	2022
	£	£
Net deferred tax liability (asset)	7,449	14,664
Total	7,449	14,664