Sivade Limited - Period Ending 2016-03-31

Registration number: 09512882

Sivade Limited

Unaudited Abbreviated Accounts

for the Period from 26 March 2015 to 31 March 2016

 

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

Sivade Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Sivade Limited
(Registration number: 09512882)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £
Fixed assets
Tangible fixed assets		2			29,570
Current assets
Cash at bank and in hand					92
Creditors: Amounts falling due within one year					(29,512)
Net current liabilities					(29,420)
Net assets					150
Capital and reserves
Called up share capital		3			150
Shareholders' funds					150

For the period ending 31 March 2016 the company was entitled to exemption 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 directors acknowledge 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 .

Approved by the Board on 18 May 2016 and signed on its behalf by:

.........................................
Mr Dean Sibley
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
  Page 1

Sivade Limited
Notes to the Abbreviated Accounts for the Period from 26 March 2015 to 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	Not depreciated, which is a departure from UK GAAP

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for as follows:No depreciation is provided in resepct of investment properties and they are included in the net cost on the balance sheet which is a departure from the recommended treatment in the Financial Reporting Standard for Smaller Entities (effective April 2008). They are included in this way as the directors feel that the difference between net cost and market value is immaterial and that the carrying value is a fair reflection of the net worth of the properties.This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted on depreciation is therefore necessary for the financial statements to give a true and fair view.
 

 

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		29,570			29,570
At 31 March 2016		29,570			29,570
Depreciation
At 31 March 2016		-			-
Net book value
At 31 March 2016		29,570			29,570

Page 2

Sivade Limited
Notes to the Abbreviated Accounts for the Period from 26 March 2015 to 31 March 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016
		No.			£
Ordinary shares of £1 each		150			150

New shares allotted

During the period 150 Ordinary shares having an aggregate nominal value of £150 were allotted for an aggregate consideration of £150.

4

Control

The company is controlled by no one ultimate controlling party. Day to day operating decisions are made by the directors, Mr D Sibley, Mr S Sibley and Mrs V Padfield, who together hold the entire issued share capital of the company.

Page 3