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Registered number: SC152154

Sinclair-Rojas Ltd

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

Prepared By:
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

Sinclair-Rojas Ltd

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
DIRECTORS
Iain Sinclair
Nora Rojas-Sinclair
SECRETARY
Christine Clowry
REGISTERED OFFICE
2 Ceres Road
Cupar
Fife
KY15 5JT
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC152154
ACCOUNTANTS
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

Sinclair-Rojas Ltd

FINANCIAL STATEMENTS
FOR THEYEARENDED31 AUGUST 2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Sinclair-Rojas Ltd

BALANCE SHEET AT 31 August 2024
20242023
Notes££
FIXED ASSETS
Tangible assets3412,758439,697
Investment Assets4450,568489,926
863,326929,623
CURRENT ASSETS
Stock4,0004,500
Debtors6141,02281,839
Cash at bank and in hand127,605118,743
272,627205,082
CREDITORS: Amounts falling due within one year781,22784,103
NET CURRENT ASSETS191,400120,979
TOTAL ASSETS LESS CURRENT LIABILITIES1,054,7261,050,602
PROVISIONS FOR LIABILITIES AND CHARGES374416
NET ASSETS1,054,3521,050,186
CAPITAL AND RESERVES
Called up share capital8100100
Profit and loss account1,054,2521,050,086
SHAREHOLDERS' FUNDS1,054,3521,050,186
For the year ending 31 August 2024 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 28 May 2025 and signed on their behalf by
.............................
Nora Rojas-Sinclair
Director

Sinclair-Rojas Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2024
1. ACCOUNTING POLICIES
1a. General Information Basis Of Accounting
The company is limited by shares and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements.
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown.
1b. Turnover
Turnover represents the amounts receivable arising from the supply of goods net of VAT and trade discounts.
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover is recognised as the fair value of the consideration received or receivable for services provided in the normal course of business, net of VAT and trade discounts.
1c. Tangible Fixed Assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Land And Buildingsstraight line2%
Plant And Machineryreducing balance25%
Motor Carsreducing balance25%
1d. Investment Properties
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in net gains/(losses) on investments in the Statement of Financial Activities.
1e. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Sinclair-Rojas Ltd

1f. Cash And Cash Equivalents
Cash and cash equivalents are basic financial instruments which 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.
1g. Financial Instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1h. Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
1i. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

Sinclair-Rojas Ltd

1j. Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets acquired under hire purchase contracts and finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.
Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the term of the lease.
1k. Foreign Currency
Transactions in currencies, other than pounds sterling, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. Gains and losses on translation in the period are included in the profit and loss account.
1l. Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
1m. Critical Accounting Estimates And Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2. EMPLOYEES
20242023
No.No.
Average number of employees89

Sinclair-Rojas Ltd

3. TANGIBLE FIXED ASSETS
Land AndPlant and
BuildingsMachinery Etc.Total
£££
Cost
At 1 September 2023456,009131,130587,139
Additions-657657
Revaluation(24,009)-(24,009)
At 31 August 2024432,000131,787563,787
Depreciation
At 1 September 202324,000123,442147,442
For the year1,5002,0873,587
At 31 August 202425,500125,529151,029
Net Book Amounts
At 31 August 2024406,5006,258412,758
At 31 August 2023432,0097,688439,697
Included in Land & Buildings are Investment Properties totalling £357,000 (2023 - £381,009). See note 5 for details.
4. INVESTMENT FIXED ASSETS
Listed
InvestmentsTotal
££
Fair Value
At 1 September 2023489,926489,926
Additions104,469104,469
Disposals(143,827)(143,827)
At 31 August 2024450,568450,568
Amortisation
Net Book Amounts
At 31 August 2024450,568450,568
At 31 August 2023489,926489,926
Included in additions above is as follows: Unrealised gain on revaluation of investments £50,416. Additions of assets at market value £54,053.

Sinclair-Rojas Ltd

5. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 1 September 2023381,009381,009
Revaluation(24,009)(24,009)
At 31 August 2024357,000357,000
Investment properties have been valued at fair value by the directors at the year end.
6. DEBTORS 20242023
££
Amounts falling due within one year:
Trade debtors7,8735,717
Other debtors133,14976,122
141,02281,839
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Trade creditors24,29329,856
Taxation and social security10,55013,995
Other creditors46,38440,252
81,22784,103
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100

Sinclair-Rojas Ltd

9. RELATED PARTY TRANSACTIONS
Included in other creditors is an interest free loan from the directors of £28,173 (2022 - £22,998). There are no fixed repayment terms.