| SIOR EUROPE LIMITED |
| Notes to the Accounts |
| for the year ended 31 October 2020 |
|
|
| 1 |
Accounting policies |
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Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
|
Turnover represents the value of services provided by the company net of discounts. |
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Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| 2 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
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|
| 3 |
Debtors |
2020 |
|
2019 |
| £ |
£ |
|
|
Other debtors |
6,708 |
|
9,062 |
|
|
|
|
|
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|
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| 4 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Taxation and social security costs |
460 |
|
3,212 |
|
Other creditors |
900 |
|
900 |
|
|
|
|
|
|
1,360 |
|
4,112 |
|
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| 5 |
Controlling party |
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The company is limited by guarantee and has no share capital. |
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| 6 |
Other information |
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SIOR EUROPE LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
155a West Green Road |
|
London |
|
N15 5EA |
