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SIRCO CONTROLS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2023






SIRCO CONTROLS LIMITED (REGISTERED NUMBER: 00672489)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

SIRCO CONTROLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTORS: D. Singer
P E Yeomanson
P Counsell





SECRETARY: P E Yeomanson





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

SIRCO CONTROLS LIMITED (REGISTERED NUMBER: 00672489)

BALANCE SHEET
28TH FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,909 33,601

CURRENT ASSETS
Stocks 218,206 172,433
Debtors 5 50,581 83,695
Cash at bank and in hand 351,381 394,614
620,168 650,742
CREDITORS
Amounts falling due within one year 6 46,307 83,397
NET CURRENT ASSETS 573,861 567,345
TOTAL ASSETS LESS CURRENT
LIABILITIES

600,770

600,946

PROVISIONS FOR LIABILITIES 4,936 6,169
NET ASSETS 595,834 594,777

CAPITAL AND RESERVES
Called up share capital 30,872 30,872
Retained earnings 564,962 563,905
SHAREHOLDERS' FUNDS 595,834 594,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 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.

SIRCO CONTROLS LIMITED (REGISTERED NUMBER: 00672489)

BALANCE SHEET - continued
28TH FEBRUARY 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 Board of Directors and authorised for issue on 13th November 2023 and were signed on its behalf by:





P E Yeomanson - Director


SIRCO CONTROLS LIMITED (REGISTERED NUMBER: 00672489)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023

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 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.

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.

SIRCO CONTROLS LIMITED (REGISTERED NUMBER: 00672489)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

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 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st March 2022 289,819 202,136 12,871 504,826
Additions - - 933 933
At 28th February 2023 289,819 202,136 13,804 505,759
DEPRECIATION
At 1st March 2022 268,214 191,981 11,030 471,225
Charge for year 5,405 1,525 695 7,625
At 28th February 2023 273,619 193,506 11,725 478,850
NET BOOK VALUE
At 28th February 2023 16,200 8,630 2,079 26,909
At 28th February 2022 21,605 10,155 1,841 33,601

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 16,539 67,815
Other debtors 13,159 15,880
29,698 83,695

SIRCO CONTROLS LIMITED (REGISTERED NUMBER: 00672489)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

5. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 20,883 -

Aggregate amounts 50,581 83,695

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 18,329 17,690
Taxation and social security 1,426 5,143
Other creditors 26,552 60,564
46,307 83,397

7. OTHER FINANCIAL COMMITMENTS

As at 28th February 2023, the company had other financial commitments of £40,771, comprising operating lease obligations extending up to 2024.

SIRCO CONTROLS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
SIRCO CONTROLS LIMITED

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 2023 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


15th November 2023