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REGISTERED NUMBER: 01805504 (England and Wales)















SITIR (U.K.) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






SITIR (U.K.) LIMITED (REGISTERED NUMBER: 01805504)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


SITIR (U.K.) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: M Mirabelli





REGISTERED OFFICE: Blenheim House
Camberley Road
Bulwell
Nottingham
NG6 8UW





REGISTERED NUMBER: 01805504 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Princes Court
Royal Way
Loughborough
Leicestershire
LE11 5XR

SITIR (U.K.) LIMITED (REGISTERED NUMBER: 01805504)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 124,554 166,072

CURRENT ASSETS
Debtors 5 185,549 208,555
Cash at bank and in hand 358,015 302,507
543,564 511,062
CREDITORS
Amounts falling due within one year 6 197,837 213,346
NET CURRENT ASSETS 345,727 297,716
TOTAL ASSETS LESS CURRENT LIABILITIES 470,281 463,788

CREDITORS
Amounts falling due after more than one year 7 (61,170 ) (92,684 )

PROVISIONS FOR LIABILITIES (23,665 ) (17,273 )
NET ASSETS 385,446 353,831

CAPITAL AND RESERVES
Called up share capital 9 170,000 170,000
Retained earnings 215,446 183,831
SHAREHOLDERS' FUNDS 385,446 353,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 May 2025 and were signed by:





M Mirabelli - Director


SITIR (U.K.) LIMITED (REGISTERED NUMBER: 01805504)

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

1. STATUTORY INFORMATION

SITIR (UK) Limited is a private company, limited by shares, registered in England and Wales. The address of the registered office is given in the company information on page one of these financial statements.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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 stated.

The financial statements cover the individual entity.

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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised upon despatch of goods or provision of services.

Property, plant and equipment
Property, plant & equipment assets are held at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

SITIR (U.K.) LIMITED (REGISTERED NUMBER: 01805504)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 520,072
DEPRECIATION
At 1 September 2023 354,000
Charge for year 41,518
At 31 August 2024 395,518
NET BOOK VALUE
At 31 August 2024 124,554
At 31 August 2023 166,072

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 145,755 159,180
Other debtors 39,794 49,375
185,549 208,555

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 10,794
Hire purchase contracts 20,930 20,930
Trade creditors 75,659 93,700
Amounts owed to group undertakings 45,236 35,272
Taxation and social security 9,462 6,384
Other creditors 46,550 46,266
197,837 213,346

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 984
Hire purchase contracts 61,170 91,700
61,170 92,684

SITIR (U.K.) LIMITED (REGISTERED NUMBER: 01805504)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 82,100 112,630

The hire purchases are secured against the assets concerned.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
170,000 Ordinary £1 170,000 170,000

10. ULTIMATE CONTROLLING PARTY

The controlling party is Sitir S.R.L.

Sitir S.R.L. is registered in Italy. The company is controlled by M. Mirabelli, a director, who owns 55% of the issued share capital of the parent undertaking.