Sipcentric Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07365592

SIPCENTRIC LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 November 2025

SIPCENTRIC LIMITED

STATEMENT OF FINANCIAL POSITION

30 November 2025

	2025	2024
Note	£	£

Current assets

Debtors	7	851,009	1,329,712
Cash at bank and in hand		5,943	46,768
		---------	------------
		856,952	1,376,480

Creditors: amounts falling due within one year	8	( 738,543)	( 543,065)
		---------	------------
Net current assets		118,409	833,415
		---------	---------
Total assets less current liabilities		118,409	833,415
		---------	---------
Net assets		118,409	833,415
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	118,309	833,315
	---------	---------
Shareholders funds	118,409	833,415
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 11 September 2026 , and are signed on behalf of the board by:

Mr S P Woodhead

Director

Company registration number: 07365592

SIPCENTRIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 NOVEMBER 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Simwood House, Cube M4 Business Park, Old Gloucester Road, Bristol, BS16 1FX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Exceptional items

Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Patents, trademarks and licences	-	33% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Intangible assets

	Patents, trademarks and licences
	£
Cost
At 1 December 2024	17,819
Additions	–
Disposals	( 17,819)
	--------
At 30 November 2025	–
	--------
Amortisation
At 1 December 2024	17,819
Charge for the year	–
Disposals through business combinations	( 17,819)
	--------
At 30 November 2025	–
	--------
Carrying amount
At 30 November 2025	–
	--------
At 30 November 2024	–
	--------

6. Tangible assets

	Plant and machinery
	£
Cost
At 1 December 2024	31,809
Disposals	( 31,809)
	--------
At 30 November 2025	–
	--------
Depreciation
At 1 December 2024	31,809
Disposals	( 31,809)
	--------
At 30 November 2025	–
	--------
Carrying amount
At 30 November 2025	–
	--------
At 30 November 2024	–
	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	17,793	2,265
Amounts owed by group undertakings and undertakings in which the company has a participating interest	741,101	1,269,195
Other debtors	92,115	58,252
	---------	------------
	851,009	1,329,712
	---------	------------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	7,528	11,419
Amounts owed to group undertakings and undertakings in which the company has a participating interest	709,375	437,517
Social security and other taxes	–	48,222
Other creditors	21,640	45,907
	---------	---------
	738,543	543,065
	---------	---------

9. Related party transactions

The company has taken advantage of the exemption in FRS 102 Section 1A not to disclose related party transactions with wholly owned subsidiaries within the group.

10. Controlling party

The directors regard Simwood Group PLC, a company registered in England and Wales, as the ultimate parent undertaking. S Woodhead is considered to be the ultimate controlling party by virtue of his controlling interest in the share capital of the ultimate parent undertaking.