SIP MFO LTD

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—4

Registered number: 14106370

		31 December 2024		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		264,669		-

			264,669		-
CURRENT ASSETS
Cash at bank and in hand		29,606		210,939

		29,606		210,939
Creditors: Amounts Falling Due Within One Year		(24,602 )		(9,626 )

NET CURRENT ASSETS (LIABILITIES)			5,004		201,313

TOTAL ASSETS LESS CURRENT LIABILITIES			269,673		201,313

Creditors: Amounts Falling Due After More Than One Year			(384,394 )		(339,394 )

NET LIABILITIES			(114,721 )		(138,081 )

CAPITAL AND RESERVES
Called up share capital	5		100		100
Profit and Loss Account			(114,821 )		(138,181 )

SHAREHOLDERS' FUNDS			(114,721)		(138,081)

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SIP MFO LTD

Abridged Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 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.

All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr Christopher Brown

Director

01/09/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

SIP MFO LTD is a private company, limited by shares, incorporated in England & Wales, registered number 14106370 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.2. Going Concern Disclosure

At the time of approving the financial statements, the director has reasonable expectation that the company has

adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to

adopt the going concern basis of accounting in preparing the financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable and net of discounts. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated rebates and other similar allowances.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 15 years.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2023: 2)

4. Intangible Assets

	Total
	£
Cost
As at 1 January 2024	-
Additions	279,721

As at 31 December 2024	279,721

Amortisation
As at 1 January 2024	-
Provided during the period	15,052

As at 31 December 2024	15,052

Net Book Value
As at 31 December 2024	264,669

As at 1 January 2024	-

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SIP MFO LTD

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 December 2024

5. Share Capital

	31 December 2024	31 December 2023
	£	£
Allotted, Called up and fully paid	100	100

6. Related Party Transactions

The total amount owed by the company to its parent company at the year end was £30,000. This is included within other creditors due after more than a year.

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