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Company registration number:08859526
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SINCERE UNITY LIMITED TRADING AS CHEW CHARTERED ACCOUNTANT
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 March 2023 |
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SINCERE UNITY LIMITED TRADING AS CHEW CHARTERED ACCOUNTANT |
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BALANCE SHEET |
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AS AT 31 March 2023
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2023 |
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2022 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Intangible assets | | | 3 | | | 65,100 | | | | 130,200 | |
Tangible assets | | | 4 | | | 8,770 | | | | 9,596 | |
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| | | | | | | 73,870 | | | | 139,796 | |
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CURRENT ASSETS |
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Stocks | | | | 27,460 | | | | 33,994 | | | | |
Debtors | | | 5 | 144,291 | | | | 100,219 | | | | |
Cash at bank and in hand | | | | 562,151 | | | | 527,814 | | | | |
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| | | | | 733,902 | | | | 662,027 | | | |
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CREDITORS |
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Amounts falling due within one year |
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6 |
(78,023) |
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(112,140) |
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NET CURRENT ASSETS |
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655,879 |
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549,887 |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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729,749 |
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689,683 |
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PROVISIONS FOR LIABILITIES | | | | | (1,611) | | | | (1,756) | |
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NET ASSETS |
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728,138 |
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687,927 |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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7 |
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100 |
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100 |
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Profit and loss account |
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728,038 |
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687,827 |
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SHAREHOLDERS FUNDS |
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728,138 |
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687,927 |
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For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 27 August 2023 and signed on its behalf. | | | | | | | |
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The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
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.......................................................................... |
Mr N. T. Chew |
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27 August 2023
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The annexed notes form part of these financial statements. | | | | | | | |
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SINCERE UNITY LIMITED TRADING AS CHEW CHARTERED ACCOUNTANT | | | | | | |
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STATEMENT OF CHANGES IN EQUITY | | | | | | |
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FOR THE YEAR ENDED 31 MARCH 2023 | | |
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Share |
Share |
P and L |
Revaluation |
Other |
Total |
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Capital |
Premium |
Account |
reserve |
reserves |
equity |
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£ |
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£ |
£ |
£ |
Balance at 1 April 2021 | | 100 | 0 | 669,845 | 0 | 0 | 669,945 |
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Changes in equity | | | | | | | | | | |
Dividend | | | 0 | 0 | (100,000) | 0 | 0 | (100,000) |
Total Comprehensive Income | | 0 | 0 | 117,982 | 0 | 0 | 117,982 |
Balance at 31 March 2022 | | 100 | 0 | 687,827 | 0 | 0 | 687,927 |
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Changes in equity | | | | | | | | | | |
Dividend | | | 0 | 0 | (50,000) | 0 | 0 | (50,000) |
Total comprehensive income | | 0 | 0 | 90,211 | 0 | 0 | 90,211 |
Balance at 31 March 2023 | | 100 | 0 | 728,038 | 0 | 0 | 728,138 |
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SINCERE UNITY LIMITED TRADING AS CHEW CHARTERED ACCOUNTANT |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2023 |
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1. |
Accounting policies |
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| Statutory information | | | | | | | |
| The company is registered in England and its registered number is 08859526. The company is a private company limited by shares. Its registered office is 2nd Floor, Cathay Building, 86 Holloway Head, | |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Turnover represents sales of services net of VAT and trade discounts. Turnover is recognised when the services are delivered to the customer. | |
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| Intangible Assets |
| Goodwill is being written off in equal annual instalments over its estimated economic life of ten years. | |
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| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: | |
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| Plant and Machinery - 20% per annum of cost | |
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| Fixtures and Fittings - 10% per annum of cost | |
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| Stocks and Work In Progress | | | | | | | |
| Stock and Works in Progress are valued at the lower of cost and net reallisable value determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. | |
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| Government grants | | | | | | | |
| The CJRS and SSP Grants are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. The Small Business Grant Fund is recognised as income in the period in which it becomes receivable. |
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| Deferred Taxation | | | | | | | | |
| Deferred taxation is provided on the liability method to take account of timing between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences. | |
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| Pension Scheme | | | | | | | | |
| The company operates a defined contribution pension scheme, NEST pension scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year. | |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 18. |
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3. | Intangible fixed assets | | | | | | | | | |
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Goodwill |
Total |
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| Cost | | | | | | | | | | |
| At start of period | |
651,000 |
651,000 |
| At end of period | |
651,000 |
651,000 |
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| Amortisation | | | | | | | | | | |
| At start of period | |
520,800 |
520,800 |
| Provided during the period | |
65,100 |
65,100 |
| At end of period | |
585,900 |
585,900 |
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| Net Book Values | | | | | | | | | |
| At start of period | |
130,200 |
130,200 |
| At end of period | |
65,100 |
65,100 |
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4. | Tangible fixed assets | | | | | | | | | |
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Plant |
F and F |
Total |
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| Cost | | | | | | | | | | |
| At start of period | |
25,432 |
2,405 |
27,837 | |
| Additions | | |
2,943 |
205 |
3,148 | |
| Disposals | | |
(2,134) |
(0) |
(2,134) | |
| At end of period | |
26,241 |
2,610 |
28,851 | |
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| Depreciation | | | | | | | | | | |
| At start of period | |
16,764 |
1,477 |
18,241 | |
| Provided during the period |
3,042 |
260 |
3,302 | |
| On disposals | |
(1,462) |
(0) |
(1,462) | |
| At end of period | |
18,344 |
1,737 |
20,081 | |
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| Net Book Value | | | | | | | | | |
| At start of period | |
8,668 |
928 |
9,596 | |
| At end of period | |
7,897 |
873 |
8,770 | |
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5. | Debtors | | | | | | | |
| | | | | 2023 | 2022 | | | |
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| Due within one year | | | | | | | |
| Trade Debtors | | | 129,576 | 84,025 | | | |
| Prepayments and accrued income | | 14,715 | 16,194 | | | |
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| | | | | 144,291 | 100,219 | | | |
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6. | Creditors due within one year | | | | | |
| | | | | 2023 | 2022 | | |
| | | | | £ | £ | | |
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| Trade creditors | | | 688 | 910 | | |
| Corporation Tax | | | 36,356 | 41,970 | | |
| Other taxes and social security costs | | 37,116 | 39,734 | | |
| Accruals and deferred income | | 3,864 | 29,527 | | |
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| | | | | 78,023 | 112,140 | | |
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7. |
Share capital |
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Alloted, Issued and fully paid |
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2023 |
2022 |
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£ |
£ |
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| Ordinary shares of £1 each | | | 100 | 100 | | | |
| Total issued share capital | | | 100 | 100 | | | |
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