Registered number
05371196
Yes Syzygy Limited
Unaudited Filleted Accounts
31 December 2023
Yes Syzygy Limited
Statement of Financial Position
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 4 73,724 80,654
Investments 5 200,200 200,200
273,924 280,854
Current assets
Debtors 6 86,909 108,579
Cash at bank and in hand 1,220 1,060
88,129 109,639
Creditors: amounts falling due within one year 7 (56,276) (88,000)
Net current assets 31,853 21,639
Net assets 305,777 302,493
Capital and reserves
Called up share capital 200,100 200,100
Revaluation reserve 8 100,000 100,000
Profit and loss account 5,677 2,393
Shareholders' funds 305,777 302,493
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sarah Brooks
Director
Approved by the board on 11 September 2024
Company registration number: 05371196
Yes Syzygy Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents net income from licensing the rights to use its intellectual property, excluding value added tax.
Going Concern
The financial statements have been prepared on a going concern basis. The Directors have prepared forecasts for a period greater than one year from the date of signature of the financial statements and have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents - 10% straight line
Intellectual Property Rights - 20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Debtors
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, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Profit before taxation 2023 2022
£ £
Profit before taxation is stated after charging:
Amortisation of intangible assets 15,316 15,452
15,316 15,452
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
4 Intangible fixed assets £
Patents, Trademarks, Licences and Intellectual Property Rights :
Cost
At 1 January 2023 308,498
Additions 8,386
At 31 December 2023 316,884
Amortisation
At 1 January 2023 227,844
Provided during the year 15,316
At 31 December 2023 243,160
Net book value
At 31 December 2023 73,724
At 31 December 2022 80,654
During 2011 the directors valued the intellectual property rights of the company at £100,000. This valuation has been amortised over ten years, the expected useful life of the asset. The cost of Patents, Trademarks and Licences represents amounts spent to register the company's patents and trademarks in various territories around the world.
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 200,200
At 31 December 2023 200,200
The company owns 100% of the issued share capital of The Yes Yes Company Limited, a company incorporated in England and Wales under number 05371471, and Bio-Tech Lubricants Limited, a company incorporated in England and Wales under number 08857325. The directors believe that the value of these investments is not less than cost.
The company indirectly owns 100% of the share capital of Ah! YES Inc, a company incorporated in the state of Delaware, USA, and of Yes Yes Europe Sarl, a company incorporated in France.
6 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 86,909 107,377
Other debtors - 1,202
86,909 108,579
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 1,501
Amounts owed to group undertakings and undertakings in which the company has a participating interest 54,426 84,719
Other creditors 1,850 1,780
56,276 88,000
8 Revaluation reserve 2023 2022
£ £
At 1 January 2023 100,000 100,000
At 31 December 2023 100,000 100,000
9 Share-based payments
Equity settled
At 31 December 2023, the following share options were outstanding in respect of exit based EMI and unapproved share option plans:
EMI Options
1,325,500 EMI share options were granted during 2016 at a Market Value of £0.01 per Share. During 2019 a further 384,000 EMI share options were granted at a Market Value of £0.01 per share and 474,000 remained outstanding at 31 December 2023. All of these options have vested.
Unapproved Options
300,000 share options were granted during 2016 at a Market Value of £0.01 per share and all remain outstanding at 31 December 2023.
10 Other information
Yes Syzygy Limited is a private company limited by shares and incorporated in England. Its registered office is:
Meadow Barn, Norton Farm
Selborne Road
Alton
Hampshire
GU34 3NB
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