6 false false false false false false false false false false true false false false false false false No description of principal activity 2023-12-01 Sage Accounts Production Advanced 2024 - FRS102_2024 125,399 75,239 12,540 87,779 37,620 50,160 7,941 4,545 12,486 4,954 2,431 7,385 5,101 2,987 xbrli:pure xbrli:shares iso4217:GBP 10840544 2023-12-01 2024-11-30 10840544 2024-11-30 10840544 2023-11-30 10840544 2022-12-01 2023-11-30 10840544 2023-11-30 10840544 2022-11-30 10840544 core:NetGoodwill 2023-12-01 2024-11-30 10840544 bus:Director1 2023-12-01 2024-11-30 10840544 core:NetGoodwill 2023-11-30 10840544 core:NetGoodwill 2024-11-30 10840544 core:WithinOneYear 2024-11-30 10840544 core:WithinOneYear 2023-11-30 10840544 core:ShareCapital 2024-11-30 10840544 core:ShareCapital 2023-11-30 10840544 core:RetainedEarningsAccumulatedLosses 2024-11-30 10840544 core:RetainedEarningsAccumulatedLosses 2023-11-30 10840544 core:NetGoodwill 2023-11-30 10840544 bus:Director1 2023-11-30 10840544 bus:Director1 2024-11-30 10840544 bus:Director1 2022-11-30 10840544 bus:Director1 2023-11-30 10840544 bus:Director1 2022-12-01 2023-11-30 10840544 bus:SmallEntities 2023-12-01 2024-11-30 10840544 bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 10840544 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 10840544 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 10840544 bus:FullAccounts 2023-12-01 2024-11-30 10840544 core:ComputerEquipment 2023-12-01 2024-11-30 10840544 core:ComputerEquipment 2023-11-30 10840544 core:ComputerEquipment 2024-11-30
COMPANY REGISTRATION NUMBER: 10840544
Sinclairs (Hendon) Limited
Filleted Unaudited Financial Statements
Year ended
30 November 2024
Sinclairs (Hendon) Limited
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
37,620
50,160
Tangible assets
6
5,101
2,987
--------
--------
42,721
53,147
Current assets
Stocks
53,499
49,797
Debtors
7
410,502
473,370
Investments
8
207,975
147,725
Cash at bank and in hand
771,368
308,951
------------
---------
1,443,344
979,843
Creditors: amounts falling due within one year
9
213,760
119,915
------------
---------
Net current assets
1,229,584
859,928
------------
---------
Total assets less current liabilities
1,272,305
913,075
Provisions
Taxation including deferred tax
1,275
747
------------
---------
Net assets
1,271,030
912,328
------------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,270,930
912,228
------------
---------
Shareholder funds
1,271,030
912,328
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Sinclairs (Hendon) Limited
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 11 August 2025 , and are signed on behalf of the board by:
Mr R Lakhani
Director
Company registration number: 10840544
Sinclairs (Hendon) Limited
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Watford Way, Hendon, London, NW4 3AD, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life of 10 years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).
5. Intangible assets
Goodwill
£
Cost
At 1 December 2023 and 30 November 2024
125,399
---------
Amortisation
At 1 December 2023
75,239
Charge for the year
12,540
---------
At 30 November 2024
87,779
---------
Carrying amount
At 30 November 2024
37,620
---------
At 30 November 2023
50,160
---------
6. Tangible assets
Equipment
£
Cost
At 1 December 2023
7,941
Additions
4,545
--------
At 30 November 2024
12,486
--------
Depreciation
At 1 December 2023
4,954
Charge for the year
2,431
--------
At 30 November 2024
7,385
--------
Carrying amount
At 30 November 2024
5,101
--------
At 30 November 2023
2,987
--------
7. Debtors
2024
2023
£
£
Other debtors
410,502
473,370
---------
---------
8. Investments
2024
2023
£
£
Other investments - Cost b/fwd
147,726
95,814
Other investments - Additions at cost
60,249
59,882
Other investments - Impairment
7,971
---------
---------
207,975
147,725
---------
---------
The market value of the investments at the balance sheet date was £286,389 (2023 - £161,561), all of which are listed on a recognised Stock Exchange.
9. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
139,207
71,122
Social security and other taxes
71,553
20,793
Other creditors
3,000
28,000
---------
---------
213,760
119,915
---------
---------
Client account balances of £1,872,307 (2023: £1.990,124) have been offset against corresponding amounts held in client bank accounts.
10. Other financial commitments
At 30 November 2024, the company's operating lease commitments totalled £19,404 (2023 - £26,256).
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr R Lakhani
145
( 796)
782
131
----
----
----
----
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr R Lakhani
407
( 1,589)
1,326
144
----
-------
-------
----
12. Related party transactions
The company has loaned £359,522 to Siennu Properties Limited, a company in which Mr R Lakhani 's wife is a director and 100% shareholder.