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REGISTERED NUMBER: 07365592 (England and Wales)















Strategic Report,

Report of the Directors and

Financial Statements for the Year Ended 30 November 2023

for

Sipcentric Limited

Sipcentric Limited (Registered number: 07365592)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Strategic Report 0

Report of the Directors 2

Balance Sheet 4

Notes to the Financial Statements 5


Sipcentric Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: S P Woodhead
C R Chance



REGISTERED OFFICE: Simwood House
Cube M4 Business Park
Old Gloucester Road
Bristol
Somerset
BS16 1FX



REGISTERED NUMBER: 07365592 (England and Wales)



SENIOR STATUTORY AUDITOR: Matthew Baker BA FCA



AUDITORS: Haines Watts Wolverhampton Limited
Statutory Auditors
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Sipcentric Limited (Registered number: 07365592)

Report of the Directors
for the Year Ended 30 November 2023

The directors present their report with the financial statements of the company for the year ended 30 November 2023.

PRINCIPAL ACTIVITY
Sipcentric Limited ("the Company") is a company incorporated in the United Kingdom under the Companies Act. The Company is a private company limited by shares and is registered in England and Wales. The address of the Company's registered office is as shown on page 1.

The Company is wholly owned by Simwood Group PLC.

The collective group ("Simwood", "we", or "us") provides vertically integrated telecommunication services from carrier, through reseller, to end-user.

REVIEW OF BUSINESS
Simwood predominantly sells a complete range of telephony services, including telephone numbers, the ability to complete calls and associated infrastructure as a service, such as hosting telephone numbers for other Network Operators. It derives revenue either from service charges for those services or from call charges. Where calls are involved, revenue and/or cost of sales can be derived from both customers and market counterparties (such as British Telecommunications plc ("BT")) depending on the particular nature of the particular call concerned.

Simwood also operates as an Internet Service Provider utilising its own extensive network not only to convey its own traffic, but also to provide Internet access to customers at all levels. Simwood Networks was incorporated to obtain Code Powers and hold associated fibre-optic assets.

PERFORMANCE
Your attention is drawn to the full accounts for Simwood Group PLC, and in particular the Strategic Report therein.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 December 2022 to the date of this report.

S P Woodhead
C R Chance

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Sipcentric Limited (Registered number: 07365592)

Report of the Directors
for the Year Ended 30 November 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Haines Watts Wolverhampton Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S P Woodhead - Director


21 August 2024

Sipcentric Limited (Registered number: 07365592)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,698 4,931
3,698 4,931

CURRENT ASSETS
Debtors 6 604,679 33,075
Cash at bank 71,624 59,780
676,303 92,855
CREDITORS
Amounts falling due within one year 7 116,913 68,194
NET CURRENT ASSETS 559,390 24,661
TOTAL ASSETS LESS CURRENT
LIABILITIES

563,088

29,592

PROVISIONS FOR LIABILITIES 925 842
NET ASSETS 562,163 28,750

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 562,063 28,650
SHAREHOLDERS' FUNDS 562,163 28,750

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





S P Woodhead - Director


Sipcentric Limited (Registered number: 07365592)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Sipcentric 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts. Turnover from the provision of goods and services is recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

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.

Patents and licences are being amortised evenly over their estimated useful life of three years.

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 etc - 25% on reducing balance

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Sipcentric Limited (Registered number: 07365592)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 December 2022
and 30 November 2023 17,819
AMORTISATION
At 1 December 2022
and 30 November 2023 17,819
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

Sipcentric Limited (Registered number: 07365592)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 December 2022
and 30 November 2023 31,809
DEPRECIATION
At 1 December 2022 26,878
Charge for year 1,233
At 30 November 2023 28,111
NET BOOK VALUE
At 30 November 2023 3,698
At 30 November 2022 4,931

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,738 13,028
Amounts owed by group undertakings 509,971 -
Other debtors 22,775 20,047
Tax recoverable 43,195 -
604,679 33,075

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,919 4,448
Taxation and social security 33,277 53,044
Other creditors 70,717 10,702
116,913 68,194

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary Class A shares £1 100 100

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Baker BA FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts Wolverhampton Limited

Sipcentric Limited (Registered number: 07365592)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

10. ULTIMATE CONTROLLING PARTY

The directors regard Simwood Group PLC, a company registered in England and Wales, as the ultimate parent undertaking. S Woodhead is considered to be the ultimate controlling party by virtue of his controlling interest in the share capital of the ultimate parent undertaking.