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REGISTERED NUMBER: 06652360 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

SINOTECH LIMITED

SINOTECH LIMITED (REGISTERED NUMBER: 06652360)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SINOTECH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Mr T D Delday





REGISTERED OFFICE: Unit B1
Sovereign Park Industrial Estate
Market Harborough
Leicestershire
LE16 9EG





REGISTERED NUMBER: 06652360 (England and Wales)





ACCOUNTANTS: TC Group
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ

SINOTECH LIMITED (REGISTERED NUMBER: 06652360)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,533 46,668

CURRENT ASSETS
Stocks 542,566 588,069
Debtors 5 425,891 439,153
Cash at bank and in hand 172,401 77,385
1,140,858 1,104,607
CREDITORS
Amounts falling due within one year 6 287,078 282,752
NET CURRENT ASSETS 853,780 821,855
TOTAL ASSETS LESS CURRENT LIABILITIES 870,313 868,523

CREDITORS
Amounts falling due after more than
one year

7

18,333

27,500
NET ASSETS 851,980 841,023

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 801,980 791,023
SHAREHOLDERS' FUNDS 851,980 841,023

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

SINOTECH LIMITED (REGISTERED NUMBER: 06652360)

BALANCE SHEET - continued
31 JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 October 2023 and were signed by:





Mr T D Delday - Director


SINOTECH LIMITED (REGISTERED NUMBER: 06652360)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 33% on cost
Fixtures and fittings - 33% on cost
Office equipment - 33% on cost

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 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.

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.

SINOTECH LIMITED (REGISTERED NUMBER: 06652360)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.
Those held under finance leases are depreciated over their estimated useful lives or the lease term whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.
Those held under finance leases are depreciated over their estimated useful lives or the lease term whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Grants
A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognized in income in the period in which it becomes receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

SINOTECH LIMITED (REGISTERED NUMBER: 06652360)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Office
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022 157,428 2,800 30,652 190,880
Additions - - 4,429 4,429
Disposals (30,000 ) - - (30,000 )
At 31 July 2023 127,428 2,800 35,081 165,309
DEPRECIATION
At 1 August 2022 110,760 2,800 30,652 144,212
Charge for year 20,000 - 1,230 21,230
Eliminated on disposal (16,666 ) - - (16,666 )
At 31 July 2023 114,094 2,800 31,882 148,776
NET BOOK VALUE
At 31 July 2023 13,334 - 3,199 16,533
At 31 July 2022 46,668 - - 46,668

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 413,573 429,865
Other debtors 12,318 9,288
425,891 439,153

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) - 4,075
Trade creditors 271,611 255,647
Taxation and social security 1,040 4,728
Other creditors 4,427 8,302
287,078 282,752

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 18,333 27,500

SINOTECH LIMITED (REGISTERED NUMBER: 06652360)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year - 4,075

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 4,075

The above debts are secured on the assets to which they relate.

10. OTHER FINANCIAL COMMITMENTS

The company is committed to total lease payments of £11,302 (2022 - £37,958).

11. RELATED PARTY DISCLOSURES

The director has made a loan to the company. The amount due to the director at 31 July 2023 was £452 (2022 - £4,847). The loan does not attract any interest and is repayable on demand.