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REGISTERED NUMBER: 07900046 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SENNIK LTD

SENNIK LTD (REGISTERED NUMBER: 07900046)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SENNIK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mrs G Sennik





SECRETARY: S Sennik





REGISTERED OFFICE: 723 Chigwell Road
Chigwell
Essex
IG8 8AS





REGISTERED NUMBER: 07900046 (England and Wales)





ACCOUNTANTS: Ashfords Partnership LLP
114 - 116 Goodmayes Road
Ilford
Essex
IG3 9UZ

SENNIK LTD (REGISTERED NUMBER: 07900046)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 196,800 364,000
Tangible assets 5 78,653 70,611
Investments 6 16 16
275,469 434,627

CURRENT ASSETS
Debtors 7 980,084 980,509
Cash at bank and in hand 80,542 231,033
1,060,626 1,211,542
CREDITORS
Amounts falling due within one year 8 160,125 242,591
NET CURRENT ASSETS 900,501 968,951
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,175,970

1,403,578

CREDITORS
Amounts falling due after more than one
year

9

(64,756

)

(82,641

)

PROVISIONS FOR LIABILITIES (189,000 ) (189,000 )
NET ASSETS 922,214 1,131,937

CAPITAL AND RESERVES
Called up share capital 4 4
Revaluation reserve 10 853,000 853,000
Retained earnings 69,210 278,933
SHAREHOLDERS' FUNDS 922,214 1,131,937

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 her 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.

SENNIK LTD (REGISTERED NUMBER: 07900046)

STATEMENT OF FINANCIAL POSITION - 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 20 January 2025 and were signed by:





Mrs G Sennik - Director


SENNIK LTD (REGISTERED NUMBER: 07900046)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Sennik Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net fees for work done.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 50% on reducing balance

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

SENNIK LTD (REGISTERED NUMBER: 07900046)

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 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 1,672,000
AMORTISATION
At 1 April 2023 1,308,000
Amortisation for year 167,200
At 31 March 2024 1,475,200
NET BOOK VALUE
At 31 March 2024 196,800
At 31 March 2023 364,000

Cost or valuation at 31 March 2024 is represented by:

Goodwill
£   
Valuation in 2017 370,000
Valuation in 2018 672,000
Cost 630,000
1,672,000

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 21,331 82,083 524 103,938
Additions 28,942 - 1,199 30,141
At 31 March 2024 50,273 82,083 1,723 134,079
DEPRECIATION
At 1 April 2023 16,386 16,417 524 33,327
Charge for year 5,083 16,416 600 22,099
At 31 March 2024 21,469 32,833 1,124 55,426
NET BOOK VALUE
At 31 March 2024 28,804 49,250 599 78,653
At 31 March 2023 4,945 65,666 - 70,611

SENNIK LTD (REGISTERED NUMBER: 07900046)

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 16
NET BOOK VALUE
At 31 March 2024 16
At 31 March 2023 16

7. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 23,603 21,728
Other debtors 1,017 3,317
24,620 25,045

Amounts falling due after more than one year:
Amounts owed by group undertakings 955,464 955,464

Aggregate amounts 980,084 980,509

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 8,000 8,000
Hire purchase contracts 9,885 9,885
Trade creditors 4,000 3,813
Taxation and social security 1,271 14,343
Other creditors 136,969 206,550
160,125 242,591

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 55,423 65,308
Other creditors 9,333 17,333
64,756 82,641

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 853,000

SENNIK LTD (REGISTERED NUMBER: 07900046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. RELATED PARTY DISCLOSURES

Included under creditors is £119,169 (2023 £186,943) amount due to the Director. There are no repayment terms.

The Company has paid rent totalling £10,000 (2023 £10,000) to Mr & Mrs Sennik for the surgery premises occupied by the Company.

Included under Debtors is £955,464 (2023 £955,464) amount due from Sennik Investments Ltd., a subsidiary company.

The controlling party is Mr & Mrs Sennik.