| Sicor International Limited |
| Notes to the Accounts |
| for the year ended 31 December 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. |
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Turnover |
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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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Freehold buildings |
over 20 to 30 years |
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Leasehold land and buildings |
over the lease term |
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Fixtures, fittings, tools and equipment |
Between 5 and 10 years |
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Motor vehicles |
over 6 years |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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At each balance sheet date stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its expected selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Pensions |
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The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £30,934 (2024: £27,377). Contributions totalling £5,101 (2024: £4,498) were payable to the fund at the balance sheet date and are included in creditors. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
Peter Cattermole BA FCA, Senior Statutory Auditor |
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Firm: |
Xeinadin Audit Limited |
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Chartered Accountants and Statutory Auditors |
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Date of audit report: |
30 April 2026 |
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| 3 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
11 |
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11 |
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| 4 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery etc |
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Motor vehicles |
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Total |
| £ |
£ |
£ |
£ |
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Cost |
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At 1 January 2025 |
986,111 |
|
404,476 |
|
168,804 |
|
1,559,391 |
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Additions |
- |
|
44,446 |
|
- |
|
44,446 |
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At 31 December 2025 |
986,111 |
|
448,922 |
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168,804 |
|
1,603,837 |
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Depreciation |
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At 1 January 2025 |
444,464 |
|
364,107 |
|
56,131 |
|
864,702 |
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Charge for the year |
32,021 |
|
14,586 |
|
28,123 |
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74,730 |
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At 31 December 2025 |
476,485 |
|
378,693 |
|
84,254 |
|
939,432 |
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Net book value |
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At 31 December 2025 |
509,626 |
|
70,229 |
|
84,550 |
|
664,405 |
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At 31 December 2024 |
541,647 |
|
40,369 |
|
112,673 |
|
694,689 |
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Included within the cost of land and buildings is £207,418 (2024 £207,418) relating to land which is non-depreciable. The remaining balance comprises £773,286 (2024 £773,286) of freehold buildings depreciated on a straight line basis and £5,407 (2024 £5,407) of fully depreciated leasehold improvements. |
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| 5 |
Investments |
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| Other |
| investments |
| £ |
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Cost |
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At 1 January 2025 |
5,000 |
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Disposals |
(5,000) |
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At 31 December 2025 |
- |
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| 6 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Trade debtors |
867,557 |
|
838,133 |
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Prepayments and accrued income |
51,879 |
|
65,738 |
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Other debtors |
4,894 |
|
38,011 |
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924,330 |
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941,882 |
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| 7 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
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Bank loans and overdrafts |
16,000 |
|
14,000 |
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Trade creditors |
17,886 |
|
138,252 |
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Amounts owed to group undertakings |
|
- |
|
8,310 |
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Taxation and social security costs |
201,513 |
|
88,643 |
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Accruals |
33,306 |
|
22,229 |
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Other creditors |
15,506 |
|
14,903 |
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|
284,211 |
|
286,337 |
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| 8 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
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Bank loans |
57,762 |
|
75,395 |
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| 9 |
Loans |
2025 |
|
2024 |
| £ |
£ |
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Creditors include: |
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Secured bank loans |
73,762 |
|
89,395 |
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The bank holds a legal charge over the company's assets as security. |
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With respect to the above loans, £0 (2024 £4,760) is repayable by instalments, which falls due after 5 years. |
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| 10 |
Share Capital |
2025 |
|
2024 |
| £ |
£ |
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Allotted, called up and fully paid |
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500,000 (2023 - 500,000) Ordinary shares of £1 each |
500,000 |
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500,000 |
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| 11 |
Other financial commitments |
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At 31 December 2025, the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods: |
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2025 |
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2024 |
| £ |
£ |
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Not later than 1 year |
76,982 |
|
68,193 |
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Later than 1 year and not later than 5 years |
271,735 |
|
227,134 |
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Later than 5 years |
|
106,401 |
|
172,903 |
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|
455,118 |
|
468,230 |
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| 12 |
Related party transactions |
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The company has taken exemption under Section 33.1A of FRS102 from disclosing related party transactions between two or more 100% members of the same group. |
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| 13 |
Subsidiary |
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The company's following subsidiary was dissolved on the 28/10/2025 :- |
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Name of undertaking |
Corda Nets Limited |
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Registered Office |
Unit 5, Gore Business Park, Bridport, DT6 3UX |
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Class of Shares held |
Ordinary |
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% shares held direct |
100% |
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| 14 |
Group accounts exemption |
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The Company is exempt from the requirement to prepare group accounts as the group that it heads is subject to the small companies regime. |
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| 15 |
Controlling party |
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The ultimate controlling party is considered to be Sicor Sociedade Industrial de Cordoaria SA, whose registered address is Rua 13 De Malo, No 1533 Distrito, Cortegaca, Portugal, by virtue of its 100% (2024 - 100%) direct and indirect shareholding in the company. |
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| 16 |
Other information |
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Sicor International Limited, registered number 02803295, is a private company limited by shares and incorporated in England. Its registered office is: |
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c/o 75 Mutley Plain |
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Plymouth |
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Devon |
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PL4 6JJ |