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REGISTERED NUMBER: 05737232 (England and Wales)












Financial Statements

for the Year Ended 31 March 2024

for

Sitemark Limited

Sitemark Limited (Registered number: 05737232)

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


Sitemark Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R M D Boxall
E Jones





SECRETARY: R M D Boxall





REGISTERED OFFICE: 3 Hagley Court North
The Waterfront
Dudley
West Midlands
DY5 1XF





REGISTERED NUMBER: 05737232 (England and Wales)





ACCOUNTANTS: Cox & Co Limited
Chartered Certified Accountants
3 Hagley Court North
The Waterfront
Dudley
West Midlands
DY5 1XF

Sitemark Limited (Registered number: 05737232)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,104,945 1,887,139
Tangible assets 5 5,946 7,928
Investments 6 5,793 5,793
2,116,684 1,900,860

CURRENT ASSETS
Stocks 2,300 2,300
Debtors 7 232,112 199,359
Cash in hand 163 77
234,575 201,736
CREDITORS
Amounts falling due within one year 8 752,372 747,624
NET CURRENT LIABILITIES (517,797 ) (545,888 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,598,887 1,354,972

CREDITORS
Amounts falling due after more than one year 9 1,308,226 1,072,150
NET ASSETS 290,661 282,822

CAPITAL AND RESERVES
Called up share capital 515,739 515,739
Share premium 412,779 412,779
Retained earnings (637,857 ) (645,696 )
SHAREHOLDERS' FUNDS 290,661 282,822

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 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.

Sitemark Limited (Registered number: 05737232)

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 Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





R M D Boxall - Director


Sitemark Limited (Registered number: 05737232)

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


1. STATUTORY INFORMATION

Sitemark 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Research and development
Development costs have been capitalised as intangible assets and amortised on a systematic basis by reference to the period over which the new services are expected to be sold, being between 10 and 14 years.

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.

Sitemark Limited (Registered number: 05737232)

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 9 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023 3,615,812
Additions 469,976
At 31 March 2024 4,085,788
AMORTISATION
At 1 April 2023 1,728,673
Charge for year 252,170
At 31 March 2024 1,980,843
NET BOOK VALUE
At 31 March 2024 2,104,945
At 31 March 2023 1,887,139

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 28,656
DEPRECIATION
At 1 April 2023 20,728
Charge for year 1,982
At 31 March 2024 22,710
NET BOOK VALUE
At 31 March 2024 5,946
At 31 March 2023 7,928

Sitemark Limited (Registered number: 05737232)

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


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 5,793
NET BOOK VALUE
At 31 March 2024 5,793
At 31 March 2023 5,793

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 140,877 97,624
Other debtors 9,943 20,443
Inter company loan 81,292 81,292
232,112 199,359

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 75,610 57,086
Trade creditors 86,474 75,481
Social security and other taxes 14,280 7,106
VAT 20,248 45,743
Other creditors (2,645 ) (1,016 )
Company credit card account - 1,474
Directors' current accounts 1,200 1,200
Accrued expenses 557,205 560,550
752,372 747,624

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 35,575 35,575
Bank loans - 2-5 years 106,724 106,724
Bank loans more 5 yr by instal 45,769 81,343
Other creditors 1,120,158 848,508
1,308,226 1,072,150

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 45,769 81,343

Sitemark Limited (Registered number: 05737232)

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


10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 40,035 6,454

The bank overdraft is secured by way of a debenture, dated 21 August 2006, creating fixed and floating charges over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.

11. ULTIMATE CONTROLLING PARTY

The Company is effectively controlled by the directors who own the majority of shares.