Registered number
07325149
Sinclair McKinsley Limited
Filleted Accounts
31 January 2024
Sinclair McKinsley Limited
Registered number: 07325149
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 17,313 21,641
Current assets
Debtors 4 22,112 31,462
Investments held as current assets 5 1,296,457 1,297,524
Cash at bank and in hand 117,136 78,462
1,435,705 1,407,448
Creditors: amounts falling due within one year 6 (270,459) (261,985)
Net current assets 1,165,246 1,145,463
Total assets less current liabilities 1,182,559 1,167,104
Creditors: amounts falling due after more than one year 7 (24,118) (34,029)
Net assets 1,158,441 1,133,075
Capital and reserves
Called up share capital 200 200
Profit and loss account 1,158,241 1,132,875
Shareholder's funds 1,158,441 1,133,075
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rajesh Chechani
Director
Approved by the board on 28 October 2024
Sinclair McKinsley Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 68,091
At 31 January 2024 68,091
Depreciation
At 1 February 2023 46,450
Charge for the year 4,328
At 31 January 2024 50,778
Net book value
At 31 January 2024 17,313
At 31 January 2023 21,641
4 Debtors 2024 2023
£ £
Trade debtors 22,112 31,462
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 1,296,457 1,297,524
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,900 3,643
Corporation tax 24,882 63,322
Other taxes and social security costs 17,986 18,282
Other creditors 224,691 176,738
270,459 261,985
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 24,118 34,029
8 Other information
Sinclair McKinsley Limited is a private company limited by shares and incorporated in England. Its registered office is:
Sinckot House
211 Station Road
Harrow
Middlesex
HA1 2TP
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