Company Registration No. 09698261 (England and Wales)
SISCO ENTERTAINMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
PAGES FOR FILING WITH REGISTRAR
SISCO ENTERTAINMENT LIMITED
COMPANY INFORMATION
Directors
Mr S Garnham
Mr S Schofield
Company number
09698261
Registered office
1 Tiger Moth Way
Lower Stondon
Henlow
Bedfordshire
SG16 6GN
Accountants
Theataccounts Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
Ariel House
2138 Coventry Road
Sheldon
Birmingham
B26 3JW
SISCO ENTERTAINMENT LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
SISCO ENTERTAINMENT LIMITED
ENTERTAINMENT ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SISCO ENTERTAINMENT LIMITED FOR THE YEAR ENDED 31 JULY 2022
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SiSco Entertainment Limited for the year ended 31 July 2022 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
It is your duty to ensure that SiSco Entertainment Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SiSco Entertainment Limited. You consider that SiSco Entertainment Limited is exempt from the statutory audit requirement for the year.
Theataccounts Limited
30 September 2022
Entertainment Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SISCO ENTERTAINMENT LIMITED
BALANCE SHEET
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
102
136
Tangible assets
4
27,256
32,149
27,358
32,285
Current assets
Debtors
7,024
Cash at bank and in hand
70,737
46,076
70,737
53,100
Creditors: amounts falling due within one year
5
(38,504)
(34,362)
Net current assets
32,233
18,738
Total assets less current liabilities
59,591
51,023
Creditors: amounts falling due after more than one year
6
(35,844)
(46,085)
Net assets
23,747
4,938
Capital and reserves
Called up share capital
7
200
200
Profit and loss reserves
23,547
4,738
Total equity
23,747
4,938
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
SISCO ENTERTAINMENT LIMITED
BALANCE SHEET (CONTINUED)
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 30 September 2022 and are signed on its behalf by:
Mr S Garnham
Director
Company Registration No. 09698261
SISCO ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
- 4 -
1
Accounting policies
Company information
SiSco Entertainment Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Tiger Moth Way, Lower Stondon, Henlow, Bedfordshire, SG16 6GN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover represents net invoiced sales of services, excluding value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
Not provided
Freehold improvements
10% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Computer equipment
33% on cost
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
SISCO ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2021 - 2).
3
Intangible fixed assets
Intellectual property
£
Cost
At 1 August 2021 and 31 July 2022
170
Amortisation and impairment
At 1 August 2021
34
Amortisation charged for the year
34
At 31 July 2022
68
Carrying amount
At 31 July 2022
102
At 31 July 2021
136
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2021
26,354
31,608
57,962
Additions
2,867
2,867
At 31 July 2022
26,354
34,475
60,829
Depreciation and impairment
At 1 August 2021
1,678
24,135
25,813
Depreciation charged in the year
1,510
6,250
7,760
At 31 July 2022
3,188
30,385
33,573
Carrying amount
At 31 July 2022
23,166
4,090
27,256
At 31 July 2021
24,676
7,473
32,149
SISCO ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
- 6 -
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
5,121
Trade creditors
1,954
1,748
Corporation tax
17,757
21,469
Other taxation and social security
10,618
1,189
Other creditors
3,054
9,956
38,504
34,362
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
35,844
46,085
7
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100
100 Ordianry B of £1 each
100
100
200
200