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REGISTERED NUMBER: 06444088 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Sinclair Storage Systems Limited

Sinclair Storage Systems Limited (Registered number: 06444088)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sinclair Storage Systems Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: M Sinclair





SECRETARY: Mrs K Sinclair





REGISTERED OFFICE: 5a Woolpack Close
Rowley Regis
West Midlands
B65 8HY





REGISTERED NUMBER: 06444088 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

Sinclair Storage Systems Limited (Registered number: 06444088)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,292 25,577

CURRENT ASSETS
Stocks - 3,700
Debtors 5 57,780 41,906
Cash at bank 10,307 28,026
68,087 73,632
CREDITORS
Amounts falling due within one year 6 39,432 51,414
NET CURRENT ASSETS 28,655 22,218
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,947

47,795

CREDITORS
Amounts falling due after more than one
year

7

(28,668

)

(36,767

)

PROVISIONS FOR LIABILITIES 9 (2,716 ) (4,860 )
NET ASSETS 11,563 6,168

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11,463 6,068
SHAREHOLDERS' FUNDS 11,563 6,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Sinclair Storage Systems Limited (Registered number: 06444088)

Balance Sheet - continued
31 March 2024


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 17 September 2024 and were signed by:





M Sinclair - Director


Sinclair Storage Systems Limited (Registered number: 06444088)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Sinclair Storage Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Sinclair Storage Systems Limited (Registered number: 06444088)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 8,772 73,267 82,039
Disposals - (15,458 ) (15,458 )
At 31 March 2024 8,772 57,809 66,581
DEPRECIATION
At 1 April 2023 8,009 48,453 56,462
Charge for year 191 4,573 4,764
Eliminated on disposal - (8,937 ) (8,937 )
At 31 March 2024 8,200 44,089 52,289
NET BOOK VALUE
At 31 March 2024 572 13,720 14,292
At 31 March 2023 763 24,814 25,577

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 36,911 32,151
CIS tax recoverable 20,869 9,755
57,780 41,906

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 12,850 12,850
Taxation and social security 21,221 25,214
Other creditors 5,361 13,350
39,432 51,414

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 28,668 36,767

Sinclair Storage Systems Limited (Registered number: 06444088)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. SECURED DEBTS

HSBC Bank Plc hold a personal guarantee from M Sinclair (director) in respect of the bank overdraft facility.

Funding Circle hold a personal guarantee from M Sinclair (director) in respect of the loan facility.

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 2,716 4,860

Deferred
tax
£   
Balance at 1 April 2023 4,860
Provided during year (2,144 )
Balance at 31 March 2024 2,716

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.