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REGISTERED NUMBER: 01973300 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

SINTEK LIMITED

SINTEK LIMITED (REGISTERED NUMBER: 01973300)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SINTEK LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTOR: R A Benson





REGISTERED OFFICE: Unit 8, Oak Spinney Park
Ratby Lane
Leicester Forest East
Leicester
Leicestershire
LE3 3AW





REGISTERED NUMBER: 01973300 (England and Wales)





ACCOUNTANTS: SFB Group Limited
Chartered Accountants
Manor Court Chambers
Townsend Drive
Nuneaton
Warwickshire
CV11 6RU

SINTEK LIMITED (REGISTERED NUMBER: 01973300)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,890 -

CURRENT ASSETS
Debtors 5 75,779 78,581
Investments 6 195,988 106,483
Cash at bank 1,179,353 1,099,820
1,451,120 1,284,884
CREDITORS
Amounts falling due within one year 7 97,269 15,552
NET CURRENT ASSETS 1,353,851 1,269,332
TOTAL ASSETS LESS CURRENT LIABILITIES 1,356,741 1,269,332

CAPITAL AND RESERVES
Called up share capital 10 10
Revaluation reserve 8 152,330 61,119
Retained earnings 1,204,401 1,208,203
SHAREHOLDERS' FUNDS 1,356,741 1,269,332

SINTEK LIMITED (REGISTERED NUMBER: 01973300)

BALANCE SHEET - continued
31 May 2023


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

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

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 20 February 2024 and were signed by:





R A Benson - Director


SINTEK LIMITED (REGISTERED NUMBER: 01973300)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Sintek 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 and represents the amount receivable for goods supplied, net of returns, discounts, valued added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:
Computer equipment25% per annum on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investments
Current asset investments are stated at cost or valuation.

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

SINTEK LIMITED (REGISTERED NUMBER: 01973300)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2022 6,046
Additions 3,853
At 31 May 2023 9,899
DEPRECIATION
At 1 June 2022 6,046
Charge for year 963
At 31 May 2023 7,009
NET BOOK VALUE
At 31 May 2023 2,890
At 31 May 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 74,096 69,462
Other debtors 1,683 9,119
75,779 78,581

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Short term investment 195,988 106,483

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 9,121 1,521
Taxation and social security 19,494 9,937
Other creditors 68,654 4,094
97,269 15,552

8. RESERVES
Revaluation
reserve
£   
At 1 June 2022 61,119
Revaluation of investments 91,211

At 31 May 2023 152,330

SINTEK LIMITED (REGISTERED NUMBER: 01973300)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

9. RELATED PARTY DISCLOSURES

During the year the company traded with Sintek International AB, a company which owns 20% of the issued share capital of the company.

During the year the company purchased goods amounting to £109,552 (2022 - £71,942) from Sintek International AB.

Included in other creditors is an amount of £8,162 (2022 - other debtors £8,296) owed to Sintek International AB.

All transactions were on a commercial basis and at arms length.

Also included in other creditors is an amount due to the director R A Benson totalling £56,987 (2022 - £589) his is interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by R A Benson, the director of the company, by virtue of his shareholding.