SINEQN_LIMITED - Accounts

SINEQN LTD - Company Information

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Company Registration No. 04729871 (England and Wales)

SINEQN LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2016

SINEQN LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SINEQN LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

6,958

5,132

Current assets

Debtors

310,291

299,219

Cash at bank and in hand

1,090

117,257

311,381

416,476

Creditors: amounts falling due within one year

(267,560)

(254,911)

Net current assets

43,821

161,565

Total assets less current liabilities

50,779

166,697

Capital and reserves

Called up share capital

1,000

Other reserves

Profit and loss account

49,732

165,650

Shareholders' funds

50,779

166,697

For the financial year ended 30 April 2016 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 financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 25 January 2017

G Mackenzie

Director

Company Registration No. 04729871

SINEQN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

30 APRIL 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents amounts receivable for services net of VAT.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33.33% Straight line

Fixtures, fittings & equipment

33.33% Straight line

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts partial performance of the contractual obligations is invoiced and shown within debtors. Revenue is billed to clients on a monthly basis for work performed in any given month.

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.7

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.9

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

SINEQN LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED

30 APRIL 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 May 2015

39,257

Additions

5,698

At 30 April 2016

44,955

Depreciation

At 1 May 2015

34,125

Charge for the year

3,872

At 30 April 2016

37,997

Net book value

At 30 April 2016

6,958

At 30 April 2015

5,132

Share capital

2016

2015

Allotted, called up and fully paid

1,000 Ordinary shares of £1 each

1,000

Related party relationships and transactions

Loans to director

Transactions in relation to loans with the director during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

10.00

5,873

103,377

(2,745)

120,000

(13,495)

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5,873

103,377

(2,745)

120,000

(13,495)