Registered number
SC697258
Sybol Limited
Filleted Accounts
31 July 2023
Sybol Limited
Registered number: SC697258
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 17,778 5,038
Current assets
Stocks 6,000 4,300
Debtors 4 17,865 2,370
Cash at bank and in hand 118,461 102,545
142,326 109,215
Creditors: amounts falling due within one year 5 (167,396) (135,736)
Net current liabilities (25,070) (26,521)
Net liabilities (7,292) (21,483)
Capital and reserves
Called up share capital 100 100
Profit and loss account (7,392) (21,583)
Shareholder's funds (7,292) (21,483)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Michal Pergl
Director
Approved by the board on 20 October 2023
Sybol Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
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).
Turnover
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
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.
Debtors
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.
Creditors
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.
Taxation
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 except to the extent that, in the opinion of the director, there is reasonable probability that the liability will not arise in the forseeable future. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 23 22
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 6,299
Additions 17,499
At 31 July 2023 23,798
Depreciation
At 1 August 2022 1,261
Charge for the year 4,759
At 31 July 2023 6,020
Net book value
At 31 July 2023 17,778
At 31 July 2022 5,038
4 Debtors 2023 2022
£ £
Other debtors 17,865 2,370
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 36,162 21,108
Taxation and social security costs 50,987 34,805
Other creditors 80,247 79,823
167,396 135,736
6 Other information
Sybol Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
Unit 11, The Galleria
15 Bon Accord Street
Aberdeen
Grampian
AB11 6EA
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