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Company Registration No. 11721206 (England and Wales)
Sinan Capital Ltd Unaudited accounts for the year ended 31 December 2023
Sinan Capital Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
32,000 
16,800 
Tangible assets
443,431 
544,440 
475,431 
561,240 
Current assets
Debtors
95,000 
2,515 
Cash at bank and in hand
204,450 
92,947 
299,450 
95,462 
Creditors: amounts falling due within one year
(301,270)
(78,265)
Net current (liabilities)/assets
(1,820)
17,197 
Total assets less current liabilities
473,611 
578,437 
Creditors: amounts falling due after more than one year
(300,834)
(521,865)
Net assets
172,777 
56,572 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
172,677 
56,472 
Shareholders' funds
172,777 
56,572 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 September 2024 and were signed on its behalf by
Mr A Azam Director Company Registration No. 11721206
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Sinan Capital Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Sinan Capital Ltd is a private company, limited by shares, registered in England and Wales, registration number 11721206. The registered office is 204 , Mitcham Road, London, SW17 9NN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on Reducing balance method
Motor vehicles
20% on Reducing balance method
Fixtures & fittings
20% on Reducing balance method
Computer equipment
20% on Reducing balance method
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Financial instruments.
The company has elected to apply the provisions of section 11 ' Basic Financial Instruments' and section 12 'Other Financial Instruments issues' of FRS 102 to all of its financial instruments. Basic financial assets, which includes debtors, cash and bank balances, are initially measured a transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement consists a financing transaction, where the transaction is measured at the present valve of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
- 3 -
Sinan Capital Ltd Notes to the Accounts for the year ended 31 December 2023
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Taxation
The tax expenses represents the sum of the tax currently payable. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further includes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
28,000 
Additions
20,000 
At 31 December 2023
48,000 
Amortisation
At 1 January 2023
11,200 
Charge for the year
4,800 
At 31 December 2023
16,000 
Net book value
At 31 December 2023
32,000 
At 31 December 2022
16,800 
- 4 -
Sinan Capital Ltd Notes to the Accounts for the year ended 31 December 2023
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
347,118 
492,883 
2,045 
842,046 
Additions
9,436 
5,752 
3,326 
18,514 
At 31 December 2023
356,554 
498,635 
5,371 
860,560 
Depreciation
At 1 January 2023
101,101 
195,974 
531 
297,606 
Charge for the year
54,128 
64,427 
968 
119,523 
At 31 December 2023
155,229 
260,401 
1,499 
417,129 
Net book value
At 31 December 2023
201,325 
238,234 
3,872 
443,431 
At 31 December 2022
246,017 
296,909 
1,514 
544,440 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
95,000 
2,515 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,000 
5,000 
VAT
69,046 
- 
Trade creditors
8,283 
- 
Taxes and social security
81,564 
37,019 
Other creditors
49,537 
278 
Loans from directors
43,840 
27,468 
Accruals
44,000 
8,500 
301,270 
78,265 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
31,422 
37,240 
Obligations under finance leases and hire purchase contracts
194,412 
362,561 
Other creditors
75,000 
122,064 
300,834 
521,865 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
- 5 -
Sinan Capital Ltd Notes to the Accounts for the year ended 31 December 2023
10
Average number of employees
During the year the average number of employees was 5 (2022: 5).
- 6 -