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Registered number: 01762209
Ford Sinclair Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01762209
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 117,593 -
Tangible Assets 5 872,329 905,467
989,922 905,467
CURRENT ASSETS
Debtors 6 174,350 419,400
Cash at bank and in hand 242,236 281,210
416,586 700,610
Creditors: Amounts Falling Due Within One Year 7 (758,088 ) (789,280 )
NET CURRENT ASSETS (LIABILITIES) (341,502 ) (88,670 )
TOTAL ASSETS LESS CURRENT LIABILITIES 648,420 816,797
Creditors: Amounts Falling Due After More Than One Year 8 (277,469 ) (286,237 )
NET ASSETS 370,951 530,560
CAPITAL AND RESERVES
Called up share capital 9 51 100
Capital redemption reserve 49 -
Profit and Loss Account 370,851 530,460
SHAREHOLDERS' FUNDS 370,951 530,560
Page 1
Page 2
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.
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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
J Thomas
Director
19th August 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ford Sinclair Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01762209 . The registered office is 358 Roman Road, Mountnessing, Essex, CM15 0TZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 15% reducing balance method
Fixtures & Fittings 20% straight line method
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 2)
5 2
Page 3
Page 4
4. Intangible Assets
Development Costs
£
Cost
As at 1 December 2023 -
Additions 130,659
As at 30 November 2024 130,659
Amortisation
As at 1 December 2023 -
Provided during the period 13,066
As at 30 November 2024 13,066
Net Book Value
As at 30 November 2024 117,593
As at 1 December 2023 -
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 December 2023 780,626 166,872 947,498
Additions - 1,610 1,610
Disposals - (16,178 ) (16,178 )
As at 30 November 2024 780,626 152,304 932,930
Depreciation
As at 1 December 2023 - 42,031 42,031
Provided during the period - 32,057 32,057
Disposals - (13,487 ) (13,487 )
As at 30 November 2024 - 60,601 60,601
Net Book Value
As at 30 November 2024 780,626 91,703 872,329
As at 1 December 2023 780,626 124,841 905,467
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 120,756 356,655
Other debtors 53,594 62,745
174,350 419,400
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 80,420 183,128
Other creditors 632,003 538,965
Taxation and social security 45,665 67,187
758,088 789,280
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 277,469 286,237
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
51 Ordinary Shares of £ 1.00 each 51 100
Page 5