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Company Registration No. 12552382 (England and Wales)
SIP KITS UK LTD Unaudited accounts for the year ended 30 April 2024
SIP KITS UK LTD Unaudited accounts Contents
Page
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SIP KITS UK LTD Company Information for the year ended 30 April 2024
Director
Gareth Arya
Company Number
12552382 (England and Wales)
Registered Office
19 HOUGH LANE LEYLAND PR25 2SB ENGLAND
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SIP KITS UK LTD Accountants' report
Accountants' report to the director of SIP KITS UK LTD on the preparation of the unaudited statutory accounts for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SIP KITS UK LTD for the year ended 30 April 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of SIP KITS UK LTD, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of SIP KITS UK LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SIP KITS UK LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that SIP KITS UK LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of SIP KITS UK LTD. You consider that SIP KITS UK LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of SIP KITS UK LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
25 January 2024
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SIP KITS UK LTD Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,415 
- 
Current assets
Debtors
30,709 
7,097 
Cash at bank and in hand
37,904 
13,035 
68,613 
20,132 
Creditors: amounts falling due within one year
(60,564)
(76,257)
Net current assets/(liabilities)
8,049 
(56,125)
Total assets less current liabilities
9,464 
(56,125)
Creditors: amounts falling due after more than one year
(86,692)
- 
Net liabilities
(77,228)
(56,125)
Capital and reserves
Profit and loss account
(77,228)
(56,125)
Shareholders' funds
(77,228)
(56,125)
For the year ending 30 April 2024 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 25 January 2024 and were signed on its behalf by
Gareth Arya Director Company Registration No. 12552382
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SIP KITS UK LTD Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
SIP KITS UK LTD is a private company, limited by shares, registered in England and Wales, registration number 12552382. The registered office is 19 HOUGH LANE, LEYLAND, PR25 2SB, ENGLAND.
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Going concern
The financial statements of SIP KITS UK LTD have been prepared on the going concern basis, indicating the company is expected to continue operating in the foreseeable future. Despite facing personnel and supply challenges due to the current economic situation, the directors believe the company has adequate plans in place to address these issues, including securing an intercompany loan and building a reliable network of contractors.
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:
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% educing Balance
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.
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SIP KITS UK LTD Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2023
- 
- 
- 
Additions
343 
1,544 
1,887 
At 30 April 2024
343 
1,544 
1,887 
Depreciation
Charge for the year
86 
386 
472 
At 30 April 2024
86 
386 
472 
Net book value
At 30 April 2024
257 
1,158 
1,415 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
23,942 
5,598 
Trade debtors
6,767 
1,499 
30,709 
7,097 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
2,073 
- 
VAT
18,917 
- 
Trade creditors
29,304 
33,722 
Taxes and social security
3,348 
4,384 
Loans from directors
6,922 
38,151 
60,564 
76,257 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
86,692 
- 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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