IRIS Accounts Production v23.4.0.336 05328485 director 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053284852022-12-31053284852023-12-31053284852023-01-012023-12-31053284852021-12-31053284852022-01-012022-12-31053284852022-12-3105328485ns15:EnglandWales2023-01-012023-12-3105328485ns14:PoundSterling2023-01-012023-12-3105328485ns10:Director12023-01-012023-12-3105328485ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105328485ns10:SmallEntities2023-01-012023-12-3105328485ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105328485ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105328485ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105328485ns10:FullAccounts2023-01-012023-12-3105328485ns10:RegisteredOffice2023-01-012023-12-3105328485ns5:CurrentFinancialInstruments2023-12-3105328485ns5:CurrentFinancialInstruments2022-12-3105328485ns5:Non-currentFinancialInstruments2023-12-3105328485ns5:Non-currentFinancialInstruments2022-12-3105328485ns5:ShareCapital2023-12-3105328485ns5:ShareCapital2022-12-3105328485ns5:RevaluationReserve2023-12-3105328485ns5:RevaluationReserve2022-12-3105328485ns5:RetainedEarningsAccumulatedLosses2023-12-3105328485ns5:RetainedEarningsAccumulatedLosses2022-12-3105328485ns5:PlantMachinery2023-01-012023-12-3105328485ns5:MotorVehicles2023-01-012023-12-3105328485ns5:ComputerEquipment2023-01-012023-12-3105328485ns5:PlantMachinery2022-12-3105328485ns5:FurnitureFittings2022-12-3105328485ns5:MotorVehicles2022-12-3105328485ns5:ComputerEquipment2022-12-3105328485ns5:FurnitureFittings2023-01-012023-12-3105328485ns5:PlantMachinery2023-12-3105328485ns5:FurnitureFittings2023-12-3105328485ns5:MotorVehicles2023-12-3105328485ns5:ComputerEquipment2023-12-3105328485ns5:PlantMachinery2022-12-3105328485ns5:FurnitureFittings2022-12-3105328485ns5:MotorVehicles2022-12-3105328485ns5:ComputerEquipment2022-12-3105328485ns5:UnlistedNon-exchangeTradedns5:CostValuation2022-12-3105328485ns5:ProvidedReleasedInPeriodProvisionsForImpairmentInvestmentsns5:UnlistedNon-exchangeTraded2023-12-3105328485ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-12-3105328485ns5:UnlistedNon-exchangeTraded2023-12-3105328485ns5:UnlistedNon-exchangeTraded2022-12-3105328485ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105328485ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105328485ns5:DeferredTaxation2022-12-3105328485ns5:DeferredTaxation2023-01-012023-12-3105328485ns5:DeferredTaxation2023-12-31
REGISTERED NUMBER: 05328485 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SCHYDE INVESTMENTS LIMITED

SCHYDE INVESTMENTS LIMITED (REGISTERED NUMBER: 05328485)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SCHYDE INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: M Edmund





REGISTERED OFFICE: 2nd Floor
Aquis House
49 - 51 Blagrave Street
Reading
RG1 1PL





REGISTERED NUMBER: 05328485 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Aquis House
49-51 Blagrave Street
Reading
Berkshire
RG1 1PL

SCHYDE INVESTMENTS LIMITED (REGISTERED NUMBER: 05328485)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 67,809 90,262
Investments 5 4,221 8,173
Investment property 6 26,265,046 26,075,000
26,337,076 26,173,435

CURRENT ASSETS
Debtors 7 2,364,922 2,377,814
Cash at bank 627,969 702,888
2,992,891 3,080,702
CREDITORS
Amounts falling due within one year 8 521,742 457,435
NET CURRENT ASSETS 2,471,149 2,623,267
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,808,225

28,796,702

CREDITORS
Amounts falling due after more than
one year

9

(6,979,466

)

(7,456,758

)

PROVISIONS FOR LIABILITIES 10 (4,491,379 ) (4,496,992 )
NET ASSETS 17,337,380 16,842,952

CAPITAL AND RESERVES
Called up share capital 1 1
Property revaluation reserve 13,428,891 13,423,278
Retained earnings 3,908,488 3,419,673
17,337,380 16,842,952

SCHYDE INVESTMENTS LIMITED (REGISTERED NUMBER: 05328485)

BALANCE SHEET - continued
31 DECEMBER 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 March 2024 and were signed by:





M Edmund - Director


SCHYDE INVESTMENTS LIMITED (REGISTERED NUMBER: 05328485)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Schyde Investments 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 principal activity of the company in the year under review was that of the letting and leasing of own estate.

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 as modified by the revaluation of certain assets.

Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For long term finance he relies on a loan provided by the shareholders. In assessing going concern he has assumed that this loan will not be repaid for the foreseeable future and, on that basis, he continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover represents rents receivable, sales of property and interest receivable on fixed and current asset investments (exclusive of VAT).

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 - 10% on cost
Motor vehicles - 25% on reducing balance
Office equipment - 25% on cost

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.


SCHYDE INVESTMENTS LIMITED (REGISTERED NUMBER: 05328485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

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.

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Operating leases: the company as lessor
Rental income from operating leases is credited to profit or loss on a straight line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

SCHYDE INVESTMENTS LIMITED (REGISTERED NUMBER: 05328485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 47,424 139,833 73,099 25,921 286,277
Additions - - - 888 888
At 31 December 2023 47,424 139,833 73,099 26,809 287,165
DEPRECIATION
At 1 January 2023 39,828 57,167 73,099 25,921 196,015
Charge for year 4,742 17,711 - 888 23,341
At 31 December 2023 44,570 74,878 73,099 26,809 219,356
NET BOOK VALUE
At 31 December 2023 2,854 64,955 - - 67,809
At 31 December 2022 7,596 82,666 - - 90,262

5. FIXED ASSET INVESTMENTS
Unlisted
investment
£   
COST
At 1 January 2023 8,173
Impairments (3,952 )
At 31 December 2023 4,221
NET BOOK VALUE
At 31 December 2023 4,221
At 31 December 2022 8,173

The company has a long term investment in SHSS Partnership LLP (OC228756) for the sum of £4,221 (2022 - £8,173).

Under the partnership agreement Schyde Investments Limited is entitled to 60% of the trading profits and bears 60% of the losses.

SCHYDE INVESTMENTS LIMITED (REGISTERED NUMBER: 05328485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 26,075,000
Additions 190,046
At 31 December 2023 26,265,046
NET BOOK VALUE
At 31 December 2023 26,265,046
At 31 December 2022 26,075,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2009 (886,365 )
Valuation in 2010 344,069
Valuation in 2011 (300,000 )
Valuation in 2014 3,390,000
Valuation in 2022 15,350,000
Cost 8,367,342
26,265,046

The investment property was valued on an open market basis on 23 January 2023 by Sanderson Weatherall LLP .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 176,019 188,658
Amounts owed by related parties 2,107,345 2,096,022
Other debtors 34,100 40,700
Prepayments and accrued income 47,458 52,434
2,364,922 2,377,814

SCHYDE INVESTMENTS LIMITED (REGISTERED NUMBER: 05328485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 51,466 50,094
Rent deposits 109,920 77,230
Corporation tax 158,093 117,456
Social security and other taxes 5,554 4,536
VAT 22,442 40,181
Other creditors 251 404
Accruals and deferred income 174,016 167,534
521,742 457,435

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Other creditors 6,979,466 7,456,758

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Fixed asset timing differences 16,953 22,566
Capital gains 4,474,426 4,474,426
4,491,379 4,496,992

Deferred
tax
£   
Balance at 1 January 2023 4,496,992
Provided during year (5,613 )
Balance at 31 December 2023 4,491,379

11. 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.

SCHYDE INVESTMENTS LIMITED (REGISTERED NUMBER: 05328485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. RELATED PARTY DISCLOSURES - continued

Included within debtors are amounts of £2,094,716 (2022 - £2,092,916) due from companies under common control.

Included within other creditors due after one year is a loan of £6,979,466 (2022 - £7,456,758) due to the Trustees of the Stephen Colin Hyde Will Trust, the shareholders. No interest has been charged on this loan during the year.

During the year £85,956 (2022 - £127,333) was charged from Moira Hyde, a trustee of the Stephen Colin Hyde Will Trust, in respect of consultancy fees. £nil was outstanding at the year end date.

During the year £40,545 (2022 - £5,000) was charged from Michael Edwards, a director of Schyde Investments Limited, in respect of consultancy fees. £nil was outstanding at the year end date.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the trustees of the Stephen Colin Hyde Will Trust by virtue of their majority shareholding.