IRIS Accounts Production v23.3.1.45 10818423 Board of Directors 1.8.22 31.7.23 31.7.23 1/2/2024 false true false false true false Auditors Opinion Ordinary A shares 1.00000 Ordinary B shares 1.00000 Preference shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh108184232022-07-31108184232023-07-31108184232022-08-012023-07-31108184232021-07-31108184232021-08-012022-07-31108184232022-07-3110818423ns10:Originalns15:EnglandWales2022-08-012023-07-3110818423ns14:PoundSterlingns10:Original2022-08-012023-07-3110818423ns10:Originalns10:Director12022-08-012023-07-3110818423ns10:Original2022-08-012023-07-3110818423ns10:Original2023-07-3110818423ns10:Originalns10:PrivateLimitedCompanyLtd2022-08-012023-07-3110818423ns10:Originalns10:SmallEntities2022-08-012023-07-3110818423ns10:Originalns10:Audited2022-08-012023-07-3110818423ns10:SmallCompaniesRegimeForAccountsns10:Original2022-08-012023-07-3110818423ns10:Originalns10:FullAccounts2022-08-012023-07-3110818423ns10:Originalns10:OrdinaryShareClass12022-08-012023-07-3110818423ns10:Originalns10:OrdinaryShareClass22022-08-012023-07-3110818423ns10:OrdinaryShareClass3ns10:Original2022-08-012023-07-3110818423ns10:Originalns10:Director22022-08-012023-07-3110818423ns10:Originalns10:Director32022-08-012023-07-3110818423ns10:Originalns10:Director42022-08-012023-07-3110818423ns10:Originalns10:Director52022-08-012023-07-3110818423ns10:Originalns10:RegisteredOffice2022-08-012023-07-3110818423ns10:Original2022-07-3110818423ns10:Originalns5:CurrentFinancialInstruments2023-07-3110818423ns10:Originalns5:CurrentFinancialInstruments2022-07-3110818423ns10:Originalns5:Non-currentFinancialInstruments2023-07-3110818423ns10:Originalns5:Non-currentFinancialInstruments2022-07-3110818423ns5:ShareCapitalns10:Original2023-07-3110818423ns5:ShareCapitalns10:Original2022-07-3110818423ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-07-3110818423ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3110818423ns10:Original2021-08-012022-07-3110818423ns10:Originalns5:CostValuation2022-07-3110818423ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-07-3110818423ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-07-3110818423ns10:Originalns5:Non-currentFinancialInstruments2022-08-012023-07-3110818423ns10:Originalns10:OrdinaryShareClass12023-07-3110818423ns10:Originalns10:OrdinaryShareClass22023-07-3110818423ns10:OrdinaryShareClass3ns10:Original2023-07-3110818423ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3110818423ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-08-012023-07-3110818423ns10:Original12022-08-012023-07-31
REGISTERED NUMBER: 10818423 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

SYSCO MANAGEMENT SERVICES LIMITED

SYSCO MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10818423)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SYSCO MANAGEMENT SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTORS: Mrs V Forshaw
I Smith
Miss G L Donaldson
C J Donaldson
Miss N M Donaldson





REGISTERED OFFICE: The Threlfall Building
Trueman Street
Liverpool
Merseyside
L3 2BA





REGISTERED NUMBER: 10818423 (England and Wales)





AUDITORS: Fairhurst
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

SYSCO MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10818423)

STATEMENT OF FINANCIAL POSITION
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,300,000 2,300,000

CURRENT ASSETS
Cash at bank 16,896 2,845

CREDITORS
Amounts falling due within one year 5 353,000 360,502
NET CURRENT LIABILITIES (336,104 ) (357,657 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,963,896

1,942,343

CREDITORS
Amounts falling due after more than one
year

6

279,000

279,000
NET ASSETS 1,684,896 1,663,343

CAPITAL AND RESERVES
Called up share capital 7 868,000 868,000
Retained earnings 8 816,896 795,343
SHAREHOLDERS' FUNDS 1,684,896 1,663,343

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2024 and were signed on its behalf by:





I Smith - Director


SYSCO MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10818423)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Sysco Management Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its debts for the foreseeable future not limited to a period of 12 months from the signing of these accounts. The company therefore continues to adopt the going concern basis in preparing the financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The following assets and liabilities are classed as financial instruments - related party loans, directors' loans and trade creditors.

Directors' loans (being repayable on demand) are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Trade creditors are measured at transaction price.

Other loans including related party loans are initially measured at fair value and are measured subsequently at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SYSCO MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10818423)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2022
and 31 July 2023 2,300,000
NET BOOK VALUE
At 31 July 2023 2,300,000
At 31 July 2022 2,300,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 100,000 100,000
Trade creditors - 502
Directors' loan accounts 253,000 260,000
353,000 360,502

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Preference shares 279,000 279,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 279,000 279,000

The irredeemable preference shares accrue distributions at a rate of 4% per annum.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
80,000 Ordinary A shares £1 80,000 80,000
20,000 Ordinary B shares £1 20,000 20,000
1,047,000 Preference shares £1 768,000 768,000
868,000 868,000

SYSCO MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10818423)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

7. CALLED UP SHARE CAPITAL - continued

The Ordinary A shares and Preference shares were issued to the shareholders as fully paid in exchange for the shares held in Evolve Business Services Ltd.

In accordance with the provisions of FRS102, £279,000 of the irredeemable preference shares have been classified as debt and included in creditors (see note 8).

8. RESERVES
Retained
earnings
£   

At 1 August 2022 795,343
Profit for the year 21,553
At 31 July 2023 816,896

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

The Report of the Auditors was unqualified.

Louise Webster BSc BFP ACA (Senior Statutory Auditor)
for and on behalf of Fairhurst

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. POST BALANCE SHEET EVENTS

In August 2023 a preference dividend was voted amounting to £20,940 in aggregate.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Donaldson family.