REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
Sentinel Business IT Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
Sentinel Business IT Ltd |
Sentinel Business IT Ltd (Registered number: 05991134) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company information | 1 |
Chartered accountants' report | 2 |
Statement of financial position | 3 |
Notes to the financial statements | 4 | to | 6 |
Sentinel Business IT Ltd |
Company Information |
for the Year Ended 30 June 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Sentinel Business IT Ltd |
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 Statement of financial position. 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. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sentinel Business IT Ltd for the year ended 30 June 2023 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Sentinel Business IT Ltd, as a body, in accordance with the terms of our engagement letter dated 10 March 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Sentinel Business IT Ltd and state those matters that we have agreed to state to the Board of Directors of Sentinel Business IT Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sentinel Business IT Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Sentinel Business IT Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sentinel Business IT Ltd. You consider that Sentinel Business IT Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Sentinel Business IT Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Sentinel Business IT Ltd (Registered number: 05991134) |
Statement of Financial Position |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ |
Current assets |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 9 |
Retained earnings |
Shareholders' funds |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Sentinel Business IT Ltd (Registered number: 05991134) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | Statutory information |
Sentinel Business IT Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
Sentinel Business IT Ltd (Registered number: 05991134) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
3. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Hire purchase and leasing commitments |
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. |
4. | Employees and directors |
The average number of employees during the year was NIL (2022 - |
5. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 July 2022 |
and 30 June 2023 |
Amortisation |
At 1 July 2022 |
and 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
6. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 July 2022 |
and 30 June 2023 |
Depreciation |
At 1 July 2022 |
and 30 June 2023 |
Net book value |
At 30 June 2023 |
Sentinel Business IT Ltd (Registered number: 05991134) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
7. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
8. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | Related party disclosures |
During the year the company entered into the following transactions with related parties: |
The company entered into transactions with DSM (GB) Limited, a fellow group company. The company was charged work done amounting to £310,921 (2022 £167,001). The total amount due to DSM (GB) Limited at the year end was £477,923 (2022 £167,001). |
All transactions with related parties were on normal commercial terms and at arms length. |