Siebec UK Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03142535 (England and Wales)

Financial Statements

for the Year Ended 31 December 2016

for

Siebec UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr P N Davies

Mr C Guillet

SECRETARY:

Mr P N Davies

REGISTERED OFFICE:

Unit 3

St Albans Business Park

St Albans Road

Stafford

Staffordshire

ST16 3DR

REGISTERED NUMBER:

03142535 (England and Wales)

AUDITORS:

Thompson Wright Limited

Chartered Accountants

and Statutory Auditors

Ebenezer House

Ryecroft

Newcastle under Lyme

Staffordshire

ST5 2BE

FIXED ASSETS

Tangible assets

4

3,821

5,094

CURRENT ASSETS

Stocks

209,260

201,286

Debtors

5

91,676

120,726

Cash at bank and in hand

138,948

59,638

439,884

381,650

CREDITORS

Amounts falling due within one year

6

103,064

81,945

NET CURRENT ASSETS

336,820

299,705

TOTAL ASSETS LESS CURRENT LIABILITIES

340,641

304,799

CREDITORS

Amounts falling due after more than one year

7

(217,997

)

(217,997

)

PROVISIONS FOR LIABILITIES

(764

)

(865

)

NET ASSETS

121,880

85,937

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

121,780

85,837

SHAREHOLDERS' FUNDS

121,880

85,937

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 26 September 2017 and were signed on its behalf by:

Mr P N Davies - Director

1.	STATUTORY INFORMATION

Siebec UK Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 December 2016 are the first financial statements that comply

with section 1A "Small Entities" of FRS102. The date of transition is 1 January 2015. There are no transition

adjustments.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2015 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2016

and 31 December 2016

20,092

DEPRECIATION

At 1 January 2016

14,998

Charge for year

1,273

At 31 December 2016

16,271

NET BOOK VALUE

At 31 December 2016

3,821

At 31 December 2015

5,094

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

84,399

110,181

Other debtors

7,277

10,545

91,676

120,726

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

10,510

32,363

Amounts owed to participating interests

60,875

27,047

Taxation and social security

26,058

19,772

Other creditors

5,621

2,763

103,064

81,945

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Amounts owed to participating interests

217,997

217,997

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2016

2015

£

£

Within one year

1,140

-

Between one and five years

1,604

8,585

In more than five years

2,592

2,592

5,336

11,177

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jeremy Bostock (Senior Statutory Auditor)

for and on behalf of Thompson Wright Limited

10.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit

returns to the tax authorities and assist with the preparation of the financial statements.

11.	ULTIMATE CONTROLLING PARTY