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REGISTERED NUMBER: 00222203 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

SINCLAIR,KEMP & LEE LIMITED

SINCLAIR,KEMP & LEE LIMITED (REGISTERED NUMBER: 00222203)

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


SINCLAIR,KEMP & LEE LIMITED

Company Information
for the year ended 31 March 2024







DIRECTORS: P C Schonberger
D Larder





SECRETARY: D Larder





REGISTERED OFFICE: Thorne Lancaster Parker
5th Floor Palladium House
1-4 Argyll Street
London
W1F 7TA





REGISTERED NUMBER: 00222203 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

SINCLAIR,KEMP & LEE LIMITED (REGISTERED NUMBER: 00222203)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 929,175 899,369
Investment property 5 20,467,500 20,467,500
21,396,675 21,366,869

CURRENT ASSETS
Debtors 6 162,985 105,769
Cash at bank 178,487 520,989
341,472 626,758
CREDITORS
Amounts falling due within one year 7 (31,534 ) (275,983 )
NET CURRENT ASSETS 309,938 350,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,706,613

21,717,644

PROVISIONS FOR LIABILITIES (3,533,937 ) (3,533,937 )
NET ASSETS 18,172,676 18,183,707

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Retained earnings 8 18,132,676 18,143,707
SHAREHOLDERS' FUNDS 18,172,676 18,183,707

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.

SINCLAIR,KEMP & LEE LIMITED (REGISTERED NUMBER: 00222203)

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 Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





P C Schonberger - Director


SINCLAIR,KEMP & LEE LIMITED (REGISTERED NUMBER: 00222203)

Notes to the Financial Statements
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Sinclair,Kemp & Lee 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 as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments and investment property
Investments and investment property are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SINCLAIR,KEMP & LEE LIMITED (REGISTERED NUMBER: 00222203)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. FIXED ASSET INVESTMENTS


FAIR VALUE

Other
investments
£

At 31 March 2024 929,175

At 31 March 2023 899,369

Fixed asset investments are shown at fair value.

5. INVESTMENT PROPERTY

FAIR VALUE


Total
£
At 31 March 202420,467,500

At 31 March 202320,467,500


Investment property is shown at fair value based upon professional valuation.

Cost or valuation at 31 March 2024 is represented by:
£   
Valuation in 2023 20,467,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 162,985 105,769

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 31,534 275,983

SINCLAIR,KEMP & LEE LIMITED (REGISTERED NUMBER: 00222203)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


8. RESERVES
Retained
earnings
£   

At 1 April 2023 18,143,707
Deficit for the year (11,031 )
At 31 March 2024 18,132,676

9. CASH AND CASH EQUIVALENTS

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

SINCLAIR,KEMP & LEE LIMITED (REGISTERED NUMBER: 00222203)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


10. FINANCIAL INSTRUMENTS

The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

a) Basic financial assets

Debtors, and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

b) Basic financial liabilities and equity

Financial liabilities are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Creditors are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Other loans are initially recognised at the transaction price, including transaction costs and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

SINCLAIR,KEMP & LEE LIMITED (REGISTERED NUMBER: 00222203)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


11. PROVISION FOR LIABILITIES

2024 2023
£ £

Deferred tax 3,533,937 3,533,937

Deferred
tax
£
Balance at 1 April 2023 3,533,937
Provided during year -
Balance at 31 March 2024 3,533,937


Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably.Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation.
Any adjustments to the amounts previously are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.