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Company Registration No. 13348276 (England and Wales)
SIP Circle LTD Unaudited accounts for the year ended 31 July 2024
SIP Circle LTD Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
SIP Circle LTD Company Information for the year ended 31 July 2024
Director
Ms Roberta HERRIDGE
Company Number
13348276 (England and Wales)
Registered Office
63 Silver Street Salisbury Wiltshire SP1 2NG England
- 3 -
SIP Circle LTD Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
18,000 
24,000 
Tangible assets
5
126,694 
150,435 
144,694 
174,435 
Current assets
Inventories
4,398 
4,398 
Debtors
6
41,883 
40,163 
Cash at bank and in hand
1,222 
2,557 
47,503 
47,118 
Creditors: amounts falling due within one year
7
(191,978)
(134,521)
Net current liabilities
(144,475)
(87,403)
Total assets less current liabilities
219 
87,032 
Creditors: amounts falling due after more than one year
8
- 
(56,491)
Net assets
219 
30,541 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
217 
30,539 
Shareholders' funds
219 
30,541 
For the year ending 31 July 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 September 2024 and were signed on its behalf by
Ms Roberta HERRIDGE Director Company Registration No. 13348276
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SIP Circle LTD Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
SIP Circle LTD is a private company, limited by shares, registered in England and Wales, registration number 13348276. The registered office is 63 Silver Street, Salisbury, Wiltshire, SP1 2NG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 August 2023
30,000 
At 31 July 2024
30,000 
Amortisation
At 1 August 2023
6,000 
Charge for the year
6,000 
At 31 July 2024
12,000 
Net book value
At 31 July 2024
18,000 
At 31 July 2023
24,000 
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SIP Circle LTD Notes to the Accounts for the year ended 31 July 2024
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2023
23,662 
162,861 
3,644 
190,167 
Additions
521 
920 
7,425 
8,866 
At 31 July 2024
24,183 
163,781 
11,069 
199,033 
Depreciation
At 1 August 2023
6,405 
31,527 
1,800 
39,732 
Charge for the year
4,767 
24,567 
3,273 
32,607 
At 31 July 2024
11,172 
56,094 
5,073 
72,339 
Net book value
At 31 July 2024
13,011 
107,687 
5,996 
126,694 
At 31 July 2023
17,257 
131,334 
1,844 
150,435 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
14,800 
13,080 
Amounts falling due after more than one year
Other debtors
27,083 
27,083 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
78,822 
22,539 
Trade creditors
32,247 
9,961 
Taxes and social security
1,679 
466 
Other creditors
3,208 
10,748 
Loans from directors
76,022 
90,965 
Deferred income
- 
(158)
191,978 
134,521 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
- 
56,491 
9
Average number of employees
During the year the average number of employees was 6 (2023: 6).
- 6 -