Sigma Consult Limited Company Accounts

Sigma Consult Limited Company Accounts

SIGMA CONSULT LIMITED - Company Information

Print Friendly Version

FY Private Limited Company Company accounts 2016-05-31 2016-05-31 false true false false false false false false false false false false true true 2014-09-01 true xbrli:pure xbrli:shares iso4217:GBP SC383751 2014-09-01 2015-08-31 SC383751 2015-08-31 SC383751 2014-08-31 SC383751 2013-09-01 2014-08-31 SC383751 2014-08-31 SC383751 2013-08-31 SC383751 uk-gaap:LandBuildings uk-gaap:OwnedOrFreeholdTangibleFixedAssets 2014-09-01 2015-08-31 SC383751 uk-gaap:FixturesFittings 2014-09-01 2015-08-31 SC383751 uk-gaap:MotorVehicles 2014-09-01 2015-08-31 SC383751 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2014-09-01 2015-08-31 SC383751 uk-bus:RegisteredOffice 2014-09-01 2015-08-31 SC383751 uk-bus:OrdinaryShareClass1 2014-09-01 2015-08-31 SC383751 uk-bus:OrdinaryShareClass2 2014-09-01 2015-08-31 SC383751 uk-bus:Director1 2014-09-01 2015-08-31 SC383751 uk-bus:Director2 2014-09-01 2015-08-31 SC383751 uk-bus:CompanySecretary 2014-09-01 2015-08-31 SC383751 uk-gaap:AllSubsidiaries 2014-09-01 2015-08-31 SC383751 uk-gaap:WithinOneYear 2015-08-31 SC383751 uk-gaap:OwnedOrFreeholdTangibleFixedAssets 2014-09-01 2015-08-31 SC383751 uk-gaap:OwnedOrFreeholdTangibleFixedAssets 2013-09-01 2014-08-31 SC383751 uk-gaap:LeasedTangibleFixedAssets 2014-09-01 2015-08-31 SC383751 uk-gaap:LeasedTangibleFixedAssets 2013-09-01 2014-08-31 SC383751 uk-gaap:ProvisionsForDeferredTaxation 2014-09-01 2015-08-31 SC383751 uk-gaap:ProvisionsForDeferredTaxation 2013-09-01 2014-08-31 SC383751 uk-gaap:ProvisionsForDeferredTaxation 2015-08-31 SC383751 uk-gaap:ProvisionsForDeferredTaxation 2014-08-31 SC383751 uk-gaap:ProvisionsForDeferredTaxation 2014-08-31 SC383751 uk-gaap:ProvisionsForDeferredTaxation 2013-08-31 SC383751 uk-bus:OrdinaryShareClass1 2015-08-31 SC383751 uk-bus:OrdinaryShareClass1 2014-08-31 SC383751 uk-bus:OrdinaryShareClass2 2015-08-31 SC383751 uk-bus:OrdinaryShareClass2 2014-08-31 SC383751 uk-gaap:LandBuildings uk-gaap:OwnedOrFreeholdTangibleFixedAssets 2015-08-31 SC383751 uk-gaap:FixturesFittings 2015-08-31 SC383751 uk-gaap:MotorVehicles 2015-08-31 SC383751 uk-gaap:LandBuildings uk-gaap:OwnedOrFreeholdTangibleFixedAssets 2014-08-31 SC383751 uk-gaap:FixturesFittings 2014-08-31 SC383751 uk-gaap:MotorVehicles 2014-08-31 SC383751 uk-gaap:LeasedTangibleFixedAssets 2015-08-31 SC383751 uk-gaap:LeasedTangibleFixedAssets 2014-08-31 SC383751 uk-gaap:LandBuildings uk-gaap:OwnedOrFreeholdTangibleFixedAssets 2014-08-31 SC383751 uk-gaap:FixturesFittings 2014-08-31 SC383751 uk-gaap:MotorVehicles 2014-08-31 SC383751 uk-gaap:DividendsPaid uk-bus:OrdinaryShareClass1 2014-09-01 2015-08-31 SC383751 uk-gaap:DividendsPaid uk-bus:OrdinaryShareClass1 2013-09-01 2014-08-31 SC383751 uk-gaap:DividendsPaid uk-bus:OrdinaryShareClass2 2013-09-01 2014-08-31 SC383751 uk-lang:English 2014-09-01 2015-08-31 SC383751 uk-curr:PoundSterling 2014-09-01 2015-08-31 SC383751 uk-bus:AllEntityOfficers 2014-09-01 2015-08-31 SC383751 uk-bus:AllEntityOfficers 2013-09-01 2014-08-31
COMPANY REGISTRATION NUMBER SC383751
SIGMA CONSULT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 August 2015
THE A9 PARTNERSHIP LIMITED
Chartered Accountants
Abercorn School
Newton
West Lothian
EH52 6PZ
SIGMA CONSULT LIMITED
DIRECTOR'S REPORT
YEAR ENDED 31 AUGUST 2015
The director presents his report and the unaudited financial statements of the company for the year ended 31 August 2015.
PRINCIPAL ACTIVITIES
The principal activity of the company during the year was the supply of engineering consultancy services.
DIRECTORS
The directors who served the company during the year were as follows:
Mr J D Frater
Mr S Frater
Mr S Frater retired as a director on 19 May 2015.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Registered office: Signed by order of the director
Abercorn School
Newton
Broxburn
EH52 6PZ
Helen Frater
Company Secretary
Approved by the director on 30 May 2016
SIGMA CONSULT LIMITED
PROFIT AND LOSS ACCOUNT
YEAR ENDED 31 AUGUST 2015
2015
2014
Note
£
£
TURNOVER
2
79,080
112,943
Cost of sales
15,614
5,611
--------
---------
GROSS PROFIT
63,466
107,332
Administrative expenses
58,269
59,665
--------
---------
OPERATING PROFIT
3
5,197
47,667
Interest payable and similar charges
479
118
-------
--------
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION
4,718
47,549
Tax on profit on ordinary activities
4
2,285
11,044
-------
--------
PROFIT FOR THE FINANCIAL YEAR
2,433
36,505
-------
--------
SIGMA CONSULT LIMITED
BALANCE SHEET
31 August 2015
2015
2014
Note
£
£
£
FIXED ASSETS
Tangible assets
6
38,710
44,898
--------
--------
CURRENT ASSETS
Debtors
7
3,883
8,794
Cash at bank
20
6,778
-------
--------
3,903
15,572
CREDITORS: Amounts falling due within one year
8
47,759
39,920
--------
--------
NET CURRENT LIABILITIES
( 43,856)
( 24,348)
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 5,146)
20,550
CREDITORS: Amounts falling due after more than one year
9
2,137
4,469
PROVISIONS FOR LIABILITIES
Deferred taxation
10
5,283
6,080
--------
--------
( 12,566)
10,001
--------
--------
CAPITAL AND RESERVES
Called up equity share capital
12
200
200
Profit and loss account
13
( 12,766)
9,801
--------
--------
(DEFICIT)/SHAREHOLDERS' FUNDS
( 12,566)
10,001
--------
--------
For the year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The director acknowledges his 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 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
These accounts were approved and signed by the director and authorised for issue on 30 May 2016 .
Mr J D Frater Director
Company Registration Number: SC383751
SIGMA CONSULT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2015
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Going concern The balance sheet shows a net asset deficiency of £12,566. The company is dependent on the continued financial support of the directors. The directors have provided assurances that this support will continue to be given, therefore it is appropriate to prepare the accounts on a going concern basis.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Tenants Imp'ments-10% straight line
Fixtures & Fittings-15% reducing balance & 33.3% straight line
Motor Vehicles-25% reducing balance
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
2. TURNOVER
Overseas turnover amounted to 24.18% (2014 - 56.79%) of the total turnover for the year.
3. OPERATING PROFIT
Operating profit is stated after charging:
2015
2014
£
£
Director's remuneration
11,354
14,973
Depreciation of owned fixed assets
4,960
5,199
Depreciation of assets held under hire purchase agreements
3,353
583
--------
--------
4. TAXATION ON ORDINARY ACTIVITIES
Analysis of charge in the year
2015
2014
£
£
Current tax:
In respect of the year:
UK Corporation tax based on the results for the year at 20% (2014 - 20%)
3,082
8,447
-------
-------
Total current tax
3,082
8,447
Deferred tax:
Origination and reversal of timing differences (note 10)
Capital allowances
(797)
2,597
-------
--------
Tax on profit on ordinary activities
2,285
11,044
-------
--------
5. DIVIDENDS
Equity dividends
2015
2014
£
£
Paid
Equity dividends on ordinary shares
25,000
15,000
Equity dividends on ordinary "B" shares
–
11,900
--------
--------
25,000
26,900
--------
--------
6. TANGIBLE ASSETS
Tenants Imp'ments
Fixtures & Fittings
Motor Vehicles
Total
£
£
£
£
COST
At 1 September 2014
22,004
28,860
13,995
64,859
Additions
–
2,125
–
2,125
--------
--------
--------
--------
At 31 August 2015
22,004
30,985
13,995
66,984
--------
--------
--------
--------
DEPRECIATION
At 1 September 2014
7,507
11,871
583
19,961
Charge for the year
2,200
2,760
3,353
8,313
-------
--------
-------
--------
At 31 August 2015
9,707
14,631
3,936
28,274
-------
--------
-------
--------
NET BOOK VALUE
At 31 August 2015
12,297
16,354
10,059
38,710
--------
--------
--------
--------
At 31 August 2014
14,497
16,989
13,412
44,898
--------
--------
--------
--------
Hire purchase agreements
Included within the net book value of £ 38,710 is £ 10,059 (2014 - £ 13,412 ) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £ 3,353 (2014 - £ 583 ).
7. DEBTORS
2015
2014
£
£
VAT recoverable
–
4,702
Other debtors
3,883
4,092
-------
-------
3,883
8,794
-------
-------
8. CREDITORS: Amounts falling due within one year
2015
2014
£
£
Overdrafts
261
–
Trade creditors
645
317
Other creditors including taxation and social security:
Corporation tax
3,082
8,447
VAT
1,378
–
Hire purchase agreements
2,332
2,332
Directors current accounts - DF
33,631
4,765
Directors current accounts - SF
–
51
Other creditors
2,799
22,146
Accruals and deferred income
3,631
1,862
--------
--------
47,759
39,920
--------
--------
9. CREDITORS: Amounts falling due after more than one year
2015
2014
£
£
Hire purchase agreements
2,137
4,469
-------
-------
10. DEFERRED TAXATION
The movement in the deferred taxation provision during the year was:
2015
2014
£
£
Provision brought forward
6,080
3,483
Profit and loss account movement arising during the year
( 797)
2,597
-------
-------
Provision carried forward
5,283
6,080
-------
-------
The provision for deferred taxation consists of the tax effect of timing differences in respect of:
2015
2014
£
£
Excess of taxation allowances over depreciation on fixed assets
5,283
6,080
-------
-------
5,283
6,080
-------
-------
11. RELATED PARTY TRANSACTIONS
The company was under the control of Mr D Frater throughout the current year. Mr Frater is the managing director and majority shareholder. During the year, Sigma Consult Ltd had the following transactions with Biomass Heat Solutions Ltd, Mr D Frater a director in Sigma Consult Ltd is also a director of Biomass Heat Solutions Ltd. Sigma Consult Ltd sold goods and services to the value of £53,818 (2014:£20,250) to Biomass Heat Solutions Ltd under normal commercial terms. Included within other creditors is an inter-company loan, the balance due to Biomass Heat Solutions Ltd at the year end was £1,285 (2014:£17,903).
12. SHARE CAPITAL
Allotted, called up and fully paid:
2015
2014
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
Ordinary "B" Class shares of £ 1 each
100
100
100
100
----
----
----
----
200
200
200
200
----
----
----
----
13. PROFIT AND LOSS ACCOUNT
2015
2014
£
£
Balance brought forward
9,801
196
Profit for the financial year
2,433
36,505
Equity dividends
( 25,000)
( 26,900)
--------
--------
Balance carried forward
( 12,766)
9,801
--------
--------
SIGMA CONSULT LIMITED
MANAGEMENT INFORMATION
YEAR ENDED 31 AUGUST 2015
The following pages do not form part of the statutory financial statements .
SIGMA CONSULT LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE
PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF
SIGMA CONSULT LIMITED
YEAR ENDED 31 AUGUST 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sigma Consult Limited for the year ended 31 August 2015 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance.
This report is made solely to the director of Sigma Consult Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Sigma Consult Limited and state those matters that we have agreed to state to him in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sigma Consult Limited and its director for our work or for this report.
It is your duty to ensure that Sigma Consult Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Sigma Consult Limited. You consider that Sigma Consult Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Sigma Consult Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
THE A9 PARTNERSHIP LIMITED Chartered Accountants
Abercorn School Newton West Lothian EH52 6PZ
30 May 2016
SIGMA CONSULT LIMITED
DETAILED PROFIT AND LOSS ACCOUNT
YEAR ENDED 31 AUGUST 2015
2015
2014
£
£
TURNOVER
79,080
112,943
Project costs
15,614
5,611
--------
---------
GROSS PROFIT
63,466
107,332
--------
---------
OVERHEADS
Administrative expenses
58,269
59,665
--------
--------
OPERATING PROFIT
5,197
47,667
Interest payable
(479)
(118)
-------
--------
PROFIT ON ORDINARY ACTIVITIES
4,718
47,549
-------
--------
NOTES:
ADMINISTRATIVE EXPENSES
Personnel costs
Directors salaries
9,081
13,125
Directors health care
2,273
1,848
Directors national insurance contributions
285
244
Administrative staff salaries
9,505
8,645
--------
--------
21,144
23,862
--------
Establishment expenses
Rates and water
–
164
Light and heat
249
141
Insurance
112
–
Repairs and maintenance
3,008
3,919
-------
-------
3,369
4,224
--------
General expenses
Motor and travel expenses
12,936
12,072
Telephone
2,814
2,888
Printing, stationery and postage
2,107
1,645
Sundry expenses
65
143
Corporation tax interest
–
21
Subscriptions
155
155
Entertaining
4,503
5,447
Accountancy fees
2,292
2,943
Depreciation
8,313
5,782
--------
--------
33,185
31,096
--------
Financial costs
Bank charges
571
483
--------
--------
58,269
59,665
--------
--------
INTEREST PAYABLE
Bank interest payable
53
82
Hire purchase and finance lease charges
426
36
----
----
479
118
----
----