Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3126The principal activity of the company during the year was the provision of technology and services to the museums, visitor attractions and sports industries.2023-01-01false28truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 3578603 2023-01-01 2023-12-31 3578603 2022-01-01 2022-12-31 3578603 2023-12-31 3578603 2022-12-31 3578603 c:Director2 2023-01-01 2023-12-31 3578603 d:MotorVehicles 2023-01-01 2023-12-31 3578603 d:MotorVehicles 2023-12-31 3578603 d:MotorVehicles 2022-12-31 3578603 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 3578603 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 3578603 d:FurnitureFittings 2023-01-01 2023-12-31 3578603 d:FurnitureFittings 2023-12-31 3578603 d:FurnitureFittings 2022-12-31 3578603 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 3578603 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 3578603 d:OfficeEquipment 2023-01-01 2023-12-31 3578603 d:OfficeEquipment 2023-12-31 3578603 d:OfficeEquipment 2022-12-31 3578603 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 3578603 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 3578603 d:ComputerEquipment 2023-01-01 2023-12-31 3578603 d:ComputerEquipment 2023-12-31 3578603 d:ComputerEquipment 2022-12-31 3578603 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 3578603 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 3578603 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 3578603 d:OtherPropertyPlantEquipment 2023-12-31 3578603 d:OtherPropertyPlantEquipment 2022-12-31 3578603 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 3578603 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 3578603 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 3578603 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 3578603 d:CurrentFinancialInstruments 2023-12-31 3578603 d:CurrentFinancialInstruments 2022-12-31 3578603 d:Non-currentFinancialInstruments 2023-12-31 3578603 d:Non-currentFinancialInstruments 2022-12-31 3578603 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 3578603 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 3578603 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 3578603 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 3578603 d:ShareCapital 2023-12-31 3578603 d:ShareCapital 2022-12-31 3578603 d:RetainedEarningsAccumulatedLosses 2023-12-31 3578603 d:RetainedEarningsAccumulatedLosses 2022-12-31 3578603 c:FRS102 2023-01-01 2023-12-31 3578603 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 3578603 c:FullAccounts 2023-01-01 2023-12-31 3578603 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 3578603 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 3578603 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 3578603 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 3578603 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 3578603 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 3578603 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 3578603 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 3578603 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 3578603 d:OtherDeferredTax 2023-12-31 3578603 d:OtherDeferredTax 2022-12-31 3578603 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 3578603 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 3578603 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-12-31 3578603 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-12-31 3578603 d:LeasedAssetsHeldAsLessee 2023-12-31 3578603 d:LeasedAssetsHeldAsLessee 2022-12-31 3578603 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 3578603









SYSCO PRODUCTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SYSCO PRODUCTIONS LIMITED
REGISTERED NUMBER: 3578603

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
313,353
54,865

  
313,353
54,865

Current assets
  

Stocks
  
35,693
155,028

Debtors: amounts falling due within one year
 5 
1,931,293
2,012,341

Bank & cash balances
  
750,831
905,014

  
2,717,817
3,072,383

Creditors: amounts falling due within one year
 6 
(1,409,613)
(1,725,753)

Net current assets
  
 
 
1,308,204
 
 
1,346,630

Total assets less current liabilities
  
1,621,557
1,401,495

Creditors: amounts falling due after more than one year
 7 
(158,152)
-

Provisions for liabilities
  

Deferred tax
 9 
(37,863)
(13,230)

  
 
 
(37,863)
 
 
(13,230)

Net assets
  
1,425,542
1,388,265


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,425,442
1,388,165

  
1,425,542
1,388,265


Page 1

 
SYSCO PRODUCTIONS LIMITED
REGISTERED NUMBER: 3578603
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




H J A Roche
Director

Date: 23 September 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
SYSCO PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The principal activity of the company during the year was the provision of technology and services to the museums, visitor attractions and sports industries.
The company is a private company limited by shares and is incorporated in England and Wales under company number 3578603.
The registered office address of the company is 35 Ballards Lane, London N3 1XW. The business address of the company is Eashing Farm, Eashing Lane, Godalming GU7 2QB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention 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.



The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
SYSCO PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25% straight line
Fixtures & fittings
-
25% straight line
Office equipment
-
25% straight line
Computer equipment
-
25% straight line
Other fixed assets
-
33.3% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
 
Page 4

 
SYSCO PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 5

 
SYSCO PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.8

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.9

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 6

 
SYSCO PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 28 (2022 - 26).

Page 7

 
SYSCO PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Office equipment
Computer equipment
Other fixed assets
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
59,176
135,509
29,600
88,329
-
312,614


Additions
18,417
7,009
-
6,290
337,928
369,644


Disposals
(25,531)
-
(10,176)
(1,263)
-
(36,970)



At 31 December 2023

52,062
142,518
19,424
93,356
337,928
645,288



Depreciation


At 1 January 2023
33,841
124,578
29,600
69,730
-
257,749


Charge for the year on owned assets
12,248
6,139
-
8,287
36,050
62,724


Charge for the year on financed assets
-
-
-
-
48,432
48,432


Disposals
(25,531)
-
(10,176)
(1,263)
-
(36,970)



At 31 December 2023

20,558
130,717
19,424
76,754
84,482
331,935



Net book value



At 31 December 2023
31,504
11,801
-
16,602
253,446
313,353



At 31 December 2022
25,335
10,931
-
18,599
-
54,865

Page 8

 
SYSCO PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
14,580
-

Other fixed assets
253,446
-

268,026
-


5.


Debtors

2023
2022
£
£


Trade debtors
1,240,364
1,471,214

Amounts owed by group undertakings
368,390
368,390

Other debtors
96,384
584

Prepayments and accrued income
226,155
172,153

1,931,293
2,012,341



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
607,518
950,456

Amounts owed to group undertakings
31,016
31,016

Corporation tax
-
10,446

Other taxation and social security
47,623
88,324

Obligations under finance lease and hire purchase contracts
105,541
-

Other creditors
9,962
11,790

Accruals and deferred income
607,953
633,721

1,409,613
1,725,753


Page 9

 
SYSCO PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
158,152
-

158,152
-


Net obligations under finance leases and hire purchase contracts are secured on the specific assets to which they relate.


8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
105,541
-

Between 1-5 years
158,152
-

263,693
-


9.


Deferred taxation




2023


£






At beginning of year
(13,230)


Charged to profit or loss
(24,633)



At end of year
(37,863)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(42,014)
(13,717)

Tax losses carried forward
3,608
-

Other short-term timing differences
543
487

(37,863)
(13,230)

Page 10

 
SYSCO PRODUCTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Pension commitments

The company contributes to defined contribution pension schemes.The assets of the schemes are held separately from those of the company in independently administered funds.
There were outstanding employer and employee contributions at the year end of £5,073 (2022: £4,543).


11.


Ultimate Parent Undertaking

The company is a wholly-owned subsidiary of Longcrest Limited, a company registered in England and Wales. The registered office is at 35 Ballards Lane, London N3 1XW.
This company is controlled by M P L Burgin. 

 
Page 11