Sirco Controls Limited - Accounts to registrar (filleted) - small 18.1

SIRCO CONTROLS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

B.A.L. Walters

Mrs. M. Norman

D. Singer

SECRETARY:

Mrs. M. Norman

REGISTERED OFFICE:

Charter House

103-105 Leigh Road

Leigh on Sea

Essex

SS9 1JL

REGISTERED NUMBER:

00672489 (England and Wales)

ACCOUNTANTS:

Clouders

Chartered Certified Accountants

Charter House

103-105 Leigh Road

Leigh-on-Sea

Essex

SS9 1JL

FIXED ASSETS

Tangible assets

4

14,065

17,090

CURRENT ASSETS

Stocks

147,691

151,802

Debtors

5

71,740

77,492

Cash at bank and in hand

375,987

422,418

595,418

651,712

CREDITORS

Amounts falling due within one year

6

50,404

66,462

NET CURRENT ASSETS

545,014

585,250

TOTAL ASSETS LESS CURRENT LIABILITIES

559,079

602,340

PROVISIONS FOR LIABILITIES

1,815

2,665

NET ASSETS

557,264

599,675

CAPITAL AND RESERVES

Called up share capital

30,872

30,872

Retained earnings

526,392

568,803

SHAREHOLDERS' FUNDS

557,264

599,675

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24th May 2018 and were signed on its behalf by:

B.A.L. Walters - Director

1.	STATUTORY INFORMATION

Sirco Controls 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.

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.

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value. Cost is

determined as follows:

Raw materials

-

on a first in first outbasis

Work in progress and finished goods

-

selling price (restricted to percentage completed) less the profit contenttherein as compiled from the company's cost analysis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Operating leases

Rentals paid under operating leases are charged to profit and loss account as incurred.

Pension costs and other post-retirement benefits

The company operates a defined-contribution money purchase pension scheme. The assets of the

scheme are held separately from those of the company, in an independently-administered fund.

Contributions are charged to the profit and loss account as they become payable in accordance with

the rules of the scheme.

3.

EMPLOYEES

The average number of employees during the year was 13 (2017 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1st March 2017

268,534

196,027

10,452

475,013

Additions

-

-

169

169

At 28th February 2018

268,534

196,027

10,621

475,182

DEPRECIATION

At 1st March 2017

265,308

184,822

7,793

457,923

Charge for year

806

1,681

707

3,194

At 28th February 2018

266,114

186,503

8,500

461,117

NET BOOK VALUE

At 28th February 2018

2,420

9,524

2,121

14,065

At 28th February 2017

3,226

11,205

2,659

17,090

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

49,043

61,540

Other debtors

22,697

15,952

71,740

77,492

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

22,098

17,192

Taxation and social security

14,776

35,583

Other creditors

13,530

13,687

50,404

66,462

7.	OTHER FINANCIAL COMMITMENTS

As at 28th February 2018, the company had other financial commitments of £60,818, comprising the

company annual operating lease obligations.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 28th February 2018 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Clouders

Chartered Certified Accountants

Charter House

103-105 Leigh Road

Leigh-on-Sea

Essex

SS9 1JL

Date: .............................................