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Registered number: 03370818
SiteLynx Limited
Financial Statements
For The Year Ended 30 November 2023
OD Accountants Ltd
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 03370818
2023 2022
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 33,677 41,535
Cash at bank and in hand 32,923 19,218
66,600 60,753
Creditors: Amounts Falling Due Within One Year 6 (50,246 ) (43,035 )
NET CURRENT ASSETS (LIABILITIES) 16,354 17,718
TOTAL ASSETS LESS CURRENT LIABILITIES 16,354 17,718
Creditors: Amounts Falling Due After More Than One Year 7 (16,540 ) (26,829 )
NET LIABILITIES (186 ) (9,111 )
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account (1,186 ) (10,111 )
SHAREHOLDERS' FUNDS (186) (9,111)
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Graham Hansell
Director
30 August 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25%
1.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2022: 1)
1 1
3. Intangible Assets
Other
£
Cost
As at 1 December 2022 123,295
As at 30 November 2023 123,295
Amortisation
As at 1 December 2022 123,295
As at 30 November 2023 123,295
Net Book Value
As at 30 November 2023 -
As at 1 December 2022 -
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 December 2022 70,179
As at 30 November 2023 70,179
Depreciation
As at 1 December 2022 70,179
As at 30 November 2023 70,179
Net Book Value
As at 30 November 2023 -
As at 1 December 2022 -
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,401 790
Amounts owed by group undertakings 31,276 37,925
Other debtors - 2,820
33,677 41,535
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 8,261 2,192
Bank loans and overdrafts 10,963 9,636
Other creditors 6,914 6,149
Taxation and social security 24,108 25,058
50,246 43,035
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 16,540 26,829
16,540 26,829
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
9. General Information
SiteLynx Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03370818 . The registered office is 372 Old Street, Office 104, London, EC1V 9LT.
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