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REGISTERED NUMBER: 09366802 (England and Wales)












SYC OPERATIONS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2023






SYC OPERATIONS LTD (REGISTERED NUMBER: 09366802)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SYC OPERATIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2023







DIRECTORS: Sussex Yacht Club Limited
D K Copeman
S Large
N Blake
K Headon
G Weston





SECRETARY: T Leigh





REGISTERED OFFICE: 85/89 Brighton Road
Shoreham-By-Sea
West Sussex
BN43 6RE





REGISTERED NUMBER: 09366802 (England and Wales)





AUDITORS: Clark Brownscombe
Chartered Accountants
and Statutory Auditors
2 St Andrews Place
Lewes
East Sussex
BN7 1UP

SYC OPERATIONS LTD (REGISTERED NUMBER: 09366802)

BALANCE SHEET
30TH SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 33
Tangible assets 5 4,937 6,035
4,938 6,068

CURRENT ASSETS
Stocks 11,142 11,967
Debtors 6 8,007 4,218
Cash at bank and in hand 42,546 114,347
61,695 130,532
CREDITORS
Amounts falling due within one year 7 68,633 91,098
NET CURRENT (LIABILITIES)/ASSETS (6,938 ) 39,434
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,000

)

45,502

CREDITORS
Amounts falling due after more than one
year

8

27,404

37,226
NET (LIABILITIES)/ASSETS (29,404 ) 8,276

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (29,504 ) 8,176
SHAREHOLDERS' FUNDS (29,404 ) 8,276

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 20th November 2023 and were signed on its behalf by:





D K Copeman - Director


SYC OPERATIONS LTD (REGISTERED NUMBER: 09366802)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023


1. STATUTORY INFORMATION

SYC Operations Ltd 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

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 etc - 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Going concern
The directors have reviewed the company's forecasts and projections and the directors believe that the company will be able to continue for a period of at least twelve months after the financial statements have been signed. The company therefore continues to adopt the going concern basis in preparing its financial statements.

SYC OPERATIONS LTD (REGISTERED NUMBER: 09366802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st October 2022
and 30th September 2023 2,128
AMORTISATION
At 1st October 2022 2,095
Charge for year 32
At 30th September 2023 2,127
NET BOOK VALUE
At 30th September 2023 1
At 30th September 2022 33

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2022
and 30th September 2023 7,456
DEPRECIATION
At 1st October 2022 1,421
Charge for year 1,098
At 30th September 2023 2,519
NET BOOK VALUE
At 30th September 2023 4,937
At 30th September 2022 6,035

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 634 -
Other debtors 7,373 4,218
8,007 4,218

SYC OPERATIONS LTD (REGISTERED NUMBER: 09366802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 33,124 25,341
Taxation and social security 21,264 21,906
Other creditors 14,245 43,851
68,633 91,098

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 27,404 37,226

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1st October 2022 8,176
Deficit for the year (37,680 )
At 30th September 2023 (29,504 )

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Victoria Anderson BA(Hons) FCA DChA (Senior Statutory Auditor)
for and on behalf of Clark Brownscombe

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.