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REGISTERED NUMBER: 09904409 (England and Wales)














Financial Statements

for the Year Ended 31st March 2023

for

SYKES PROPERTY LIMITED

SYKES PROPERTY LIMITED (REGISTERED NUMBER: 09904409)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SYKES PROPERTY LIMITED

Company Information
for the Year Ended 31st March 2023







DIRECTORS: H J Sykes
Mrs D P Sykes





REGISTERED OFFICE: 80 Bromstone Road
Broadstairs
Kent
CT10 2HX





REGISTERED NUMBER: 09904409 (England and Wales)





ACCOUNTANTS: John Wildman Chartered Accountants
15 Grove Place
Bedford
MK40 3JJ

SYKES PROPERTY LIMITED (REGISTERED NUMBER: 09904409)

Balance Sheet
31st March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,468,268 898,845

CURRENT ASSETS
Debtors 5 - 400
Cash at bank 9,972 178,072
9,972 178,472
CREDITORS
Amounts falling due within one year 6 236,883 246,020
NET CURRENT LIABILITIES (226,911 ) (67,548 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,241,357

831,297

CREDITORS
Amounts falling due after more than
one year

7

1,125,664

730,464
NET ASSETS 115,693 100,833

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 115,593 100,733
SHAREHOLDERS' FUNDS 115,693 100,833

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

SYKES PROPERTY LIMITED (REGISTERED NUMBER: 09904409)

Balance Sheet - continued
31st March 2023


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 6th November 2023 and were signed on its behalf by:




H J Sykes - Director



Mrs D P Sykes - Director


SYKES PROPERTY LIMITED (REGISTERED NUMBER: 09904409)

Notes to the Financial Statements
for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

Sykes Property 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.

These financial statements are prepared on the going concern basis as it is the intention of the directors to continue supporting the company for the foreseeable future.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

SYKES PROPERTY LIMITED (REGISTERED NUMBER: 09904409)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

4. INVESTMENT PROPERTY
Total
£   
COST
At 1st April 2022 898,845
Additions 569,423
At 31st March 2023 1,468,268
NET BOOK VALUE
At 31st March 2023 1,468,268
At 31st March 2022 898,845

The properties are shown at cost being the directors current valuations.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Fees paid on account - 400

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Corporation tax 3,486 8,991
PAYE & NI due 354 444
Simulation Training Associates 24,062 23,662
Directors' loan accounts 208,731 212,673
Accrued expenses 250 250
236,883 246,020

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Mortgages 1,125,664 730,464

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 1,125,664 730,464

SYKES PROPERTY LIMITED (REGISTERED NUMBER: 09904409)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Other loans 1,125,664 730,464

Charges held by mortgage companies.