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REGISTERED NUMBER: 08421330 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SYLEN LAKES LIMITED

SYLEN LAKES LIMITED (REGISTERED NUMBER: 08421330)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SYLEN LAKES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mrs R V Galloway
N P Galloway





SECRETARY:





REGISTERED OFFICE: Sylen Lakes
Five Roads
Llanelli
Carmarthenshire
SA15 5BJ





REGISTERED NUMBER: 08421330 (England and Wales)





ACCOUNTANTS: Charles & Co
Chartered Certified Accountants
3 Murray Street
Llanelli
Carmarthenshire
SA15 1AQ

SYLEN LAKES LIMITED (REGISTERED NUMBER: 08421330)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 106,773 103,545

CURRENT ASSETS
Cash at bank 210,428 152,818

CREDITORS
Amounts falling due within one year 5 200,676 199,930
NET CURRENT ASSETS/(LIABILITIES) 9,752 (47,112 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

116,525

56,433

RESERVES
Retained earnings 116,525 56,433
116,525 56,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 April 2023 and were signed on its behalf by:





N P Galloway - Director


SYLEN LAKES LIMITED (REGISTERED NUMBER: 08421330)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Sylen Lakes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

SYLEN LAKES LIMITED (REGISTERED NUMBER: 08421330)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 March 2022 74,964 116,020 4,377 195,361
Additions - 11,179 - 11,179
At 28 February 2023 74,964 127,199 4,377 206,540
DEPRECIATION
At 1 March 2022 - 88,873 2,943 91,816
Charge for year - 7,665 286 7,951
At 28 February 2023 - 96,538 3,229 99,767
NET BOOK VALUE
At 28 February 2023 74,964 30,661 1,148 106,773
At 28 February 2022 74,964 27,147 1,434 103,545

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Barclays loan - (3,331 )
Natwest loan - 4,598
Tax 16,807 7,183
Social security and other taxes 297 (164 )
VAT 693 4,040
Other creditors 103,227 103,227
Loan: T & S Galloway 1,072 1,072
Directors' loan accounts 77,173 82,023
Accrued expenses 1,407 1,282
200,676 199,930