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SYKE HOUSE INVESTMENTS LIMITED

Registered Number
14509788
(England and Wales)

Unaudited Financial Statements for the Period ended
31 December 2023

SYKE HOUSE INVESTMENTS LIMITED
Company Information
for the period from 28 November 2022 to 31 December 2023

Directors

WHITAKER, Gemma Louise
WHITAKER, William Reginald

Registered Address

85 Keighley Road
Skipton
BD23 2NA

Registered Number

14509788 (England and Wales)
SYKE HOUSE INVESTMENTS LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

£

£

Fixed assets
Investment property34,600,000
4,600,000
Current assets
Debtors4112,506
112,506
Creditors amounts falling due within one year5(110,988)
Net current assets (liabilities)1,518
Total assets less current liabilities4,601,518
Provisions for liabilities6(75,000)
Net assets4,526,518
Capital and reserves
Called up share capital4,300,000
Revaluation reserve225,000
Profit and loss account1,518
Shareholders' funds4,526,518
The financial statements were approved and authorised for issue by the Board of Directors on 12 March 2024, and are signed on its behalf by:
WHITAKER, William Reginald
Director
Registered Company No. 14509788
SYKE HOUSE INVESTMENTS LIMITED
Notes to the Financial Statements
for the period ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
These financial statements have been prepared on the going concern basis.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
2.Average number of employees

2023
Average number of employees during the year2
3.Investment property
The 2023 valuation was made by the directors, on an open market value for existing use basis. The fair value adjustment includes a fair value adjustment and revaluation.

£
Additions2,113,298
Fair value adjustments2,486,702
At 31 December 234,600,000
4.Debtors: amounts due within one year

2023

£
Other debtors107,531
Prepayments and accrued income4,975
Total112,506
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due within one year

2023

£
Trade creditors / trade payables107,531
Taxation and social security457
Accrued liabilities and deferred income3,000
Total110,988
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position. The provision for deferred taxation is made up as follows: Deferred tax on revaluation surplus £75,000

2023

£
Net deferred tax liability (asset)75,000
Total75,000
7.Related party transactions
On 25 October 2023 Whitakers Chocolates Limited, a related undertaking, transferred its freehold property to Syke House Investments Limited, a company under the control of W R Whitaker and his close family, at its net book value. Syke House Investments Limited rents certain of its properties to Whitakers Chocolates Limited.