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REGISTERED NUMBER: 05255849 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Sipling Covermakers Ltd.

Sipling Covermakers Ltd. (Registered number: 05255849)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sipling Covermakers Ltd.

Company Information
for the Year Ended 30 November 2024







DIRECTOR: D Sipling





SECRETARY:





REGISTERED OFFICE: Unit 8
9 Atherton Way
Brigg
Lincolnshire
DN20 8AR





REGISTERED NUMBER: 05255849 (England and Wales)





ACCOUNTANTS: ASAP Accountants & Business Advisors Ltd
Room 206, Mercury House
Willoughton Drive
Foxby Lane Business Park
Gainsborough
Lincolnshire
DN21 1DY

Sipling Covermakers Ltd. (Registered number: 05255849)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 3,000
Tangible assets 5 70,686 89,785
70,686 92,785

CURRENT ASSETS
Stocks 28,317 24,325
Debtors 6 188,900 145,067
Cash at bank 8 1,242
217,225 170,634
CREDITORS
Amounts falling due within one year 7 106,793 78,378
NET CURRENT ASSETS 110,432 92,256
TOTAL ASSETS LESS CURRENT
LIABILITIES

181,118

185,041

CREDITORS
Amounts falling due after more than
one year

8

30,427

42,093
NET ASSETS 150,691 142,948

Sipling Covermakers Ltd. (Registered number: 05255849)

Balance Sheet - continued
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 150,591 142,848
SHAREHOLDERS' FUNDS 150,691 142,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2025 and were signed by:





D Sipling - Director


Sipling Covermakers Ltd. (Registered number: 05255849)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Sipling Covermakers Ltd. 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Sipling Covermakers Ltd. (Registered number: 05255849)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

Sipling Covermakers Ltd. (Registered number: 05255849)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 60,000
AMORTISATION
At 1 December 2023 57,000
Charge for year 3,000
At 30 November 2024 60,000
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 3,000

5. TANGIBLE FIXED ASSETS
Plant & Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2023
and 30 November 2024 42,282 126,640 583 169,505
DEPRECIATION
At 1 December 2023 32,447 46,690 583 79,720
Charge for year 1,477 17,622 - 19,099
At 30 November 2024 33,924 64,312 583 98,819
NET BOOK VALUE
At 30 November 2024 8,358 62,328 - 70,686
At 30 November 2023 9,835 79,950 - 89,785

Sipling Covermakers Ltd. (Registered number: 05255849)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 December 2023
and 30 November 2024 42,220
DEPRECIATION
At 1 December 2023 6,551
Charge for year 6,551
At 30 November 2024 13,102
NET BOOK VALUE
At 30 November 2024 29,118
At 30 November 2023 35,669

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.11.24 30.11.23
£    £   
Trade debtors 130,317 145,067
Other debtors 58,583 -
188,900 145,067

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 14,083 8,000
Finance leases 4,108 4,105
Trade creditors 13,277 9,159
Taxation and social security 75,325 56,639
Other creditors - 475
106,793 78,378

Sipling Covermakers Ltd. (Registered number: 05255849)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans 4,442 12,000
Finance leases 25,985 30,093
30,427 42,093

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Bank overdraft 6,083 -
Bank loans 12,442 20,000
Finance leases 30,093 34,198
48,618 54,198