SITOC Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05278300 (England and Wales)

SITOC Limited

Unaudited Financial Statements for the Year Ended 31 December 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G M Urtel

REGISTERED OFFICE:

4 Gleneagles Court

Brighton Road

Crawley

West Sussex

RH10 6AD

REGISTERED NUMBER:

05278300 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Atlantic House

8 Bell Lane

Bellbrook Industrial Estate

Uckfield

East Sussex

TN22 1QL

FIXED ASSETS

Tangible assets

4

26,949

28,296

CURRENT ASSETS

Debtors

5

399,761

400,703

Cash at bank

63,175

62,399

462,936

463,102

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6

429,416

430,964

NET CURRENT ASSETS

33,520

32,138

TOTAL ASSETS LESS CURRENT LIABILITIES

60,469

60,434

PROVISIONS FOR LIABILITIES

4,199

4,477

NET ASSETS

56,270

55,957

CAPITAL AND RESERVES

Called up share capital

8

3

3

Retained earnings

56,267

55,954

SHAREHOLDERS' FUNDS

56,270

55,957

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 27 September 2018 and were signed by:

Mr G M Urtel - Director

1.	STATUTORY INFORMATION

SITOC 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.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

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.

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 the income statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2016 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2017

205,145

Additions

7,638

At 31 December 2017

212,783

DEPRECIATION

At 1 January 2017

176,849

Charge for year

8,985

At 31 December 2017

185,834

NET BOOK VALUE

At 31 December 2017

26,949

At 31 December 2016

28,296

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

247,162

222,399

Other debtors

152,599

178,304

399,761

400,703

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

142,152

138,564

Taxation and social security

52,003

62,494

Other creditors

235,261

229,906

429,416

430,964

7.	LEASING AGREEMENTS

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

2017

2016

£

£

Within one year

-

5,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

3

Ordinary

£1

3

3

9.	RELATED PARTY DISCLOSURES

At the balance sheet date there was an amount due to the company from an owner holding a

participating interest in the company of £856 (2016 - £4,595). This loan is unsecured, interest free

and repayable on demand.

Included in debtors are loans to companies in which the director has a participating interest totalling

£35,378 (2016 - £134,608). These loans are unsecured, interest free and repayable on demand.

Included in creditors are loans from companies in which the director has a participating interest

totalling £nil (2016 - £3,828). These loans are unsecured, interest free and repayable on demand.

At the balance sheet date there were amounts due to the director of the company totalling £783

(2016 - £10,352). These amounts are unsecured, interest free and repayable on demand.

At the balance sheet date the company owed £30,944 (2016 - £30,944) to a person with a

participating interest in a company in which the director has a participating interest. This loan is

unsecured, interest free and repayable on demand.