Company No:
Contents
DIRECTORS | Mr J V Redman |
Mr T Sharp |
SECRETARY | Mr T Sharp |
REGISTERED OFFICE | Sycamore House |
King Arthurs Park | |
Sparkford | |
BA22 7FE | |
United Kingdom |
COMPANY NUMBER | 10079959 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Blackbrook Gate 1 | |
Blackbrook Business Park | |
Taunton | |
Somerset TA1 2PX |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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118,401 | 107,393 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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608 | 1,051 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (85,597) | (76,651) | ||
Total assets less current liabilities | 32,804 | 30,742 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Sycamore Plant and Equipment Limited (registered number:
Mr J V Redman
Director |
Mr T Sharp
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Sycamore Plant and Equipment Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sycamore House, King Arthurs Park, Sparkford, BA22 7FE, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
The Company has adopted FRS 102 - the Financial Reporting Standard applicable in the UK and Republic or Ireland. The company has transferred from the FRS 105 - the Financial Reporting Standard applicable to the Mirco-entities Regime as at 1 April 2021. The impact on the the financial statements can be seen in note 2.
Plant and machinery |
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Vehicles |
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Office equipment |
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The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
The Company has adopted FRS 102 for the year ended 31 March 2023 and has restated the comparative year amounts.
Reconciliation of equity
Note | 01.04.2021 | 31.03.2022 | ||
£ | £ | |||
Capital and reserves (as previously stated) | 19,668 | 30,742 | ||
Deferred tax | i | (19,579) | (20,405) | |
Capital and reserves (as restated) | 89 | 10,337 |
Reconciliation of profit or loss
Note | 31.03.2022 | |||
£ | ||||
Profit for the year (as previously stated) | 11,074 | |||
Deferred tax | i | (826) | ||
Profit for the year (as restated) | 10,248 |
Notes to the reconciliations
(i) | Deferred tax |
Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. |
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Vehicles | Office equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2022 |
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Additions |
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Disposals |
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At 31 March 2023 |
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Accumulated depreciation | |||||||
At 01 April 2022 |
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Charge for the financial year |
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Disposals |
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At 31 March 2023 |
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Net book value | |||||||
At 31 March 2023 |
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At 31 March 2022 |
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2023 | 2022 | ||
£ | £ | ||
Amounts owed by Group undertakings |
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Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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