Graham Sykes Holdings Limited 06445535 false 2023-04-01 2023-12-31 2023-12-31 The principal activity of the company is being a non-trading holding company for its trading subsidiary Graham Sykes Limited Digita Accounts Production Advanced 6.30.9574.0 true false true true 06445535 2023-04-01 2023-12-31 06445535 2023-12-31 06445535 core:ShareCapital 2023-12-31 06445535 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 06445535 core:Goodwill 2023-12-31 06445535 bus:SmallEntities 2023-04-01 2023-12-31 06445535 bus:AuditExemptWithAccountantsReport 2023-04-01 2023-12-31 06445535 bus:FullAccounts 2023-04-01 2023-12-31 06445535 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2023-12-31 06445535 bus:RegisteredOffice 2023-04-01 2023-12-31 06445535 bus:Director1 2023-04-01 2023-12-31 06445535 bus:Director2 2023-04-01 2023-12-31 06445535 bus:PrivateLimitedCompanyLtd 2023-04-01 2023-12-31 06445535 core:Goodwill 2023-04-01 2023-12-31 06445535 core:Subsidiary1 2023-04-01 2023-12-31 06445535 core:Subsidiary1 countries:AllCountries 2023-04-01 2023-12-31 06445535 1 2023-04-01 2023-12-31 06445535 countries:AllCountries 2023-04-01 2023-12-31 06445535 2023-03-31 06445535 core:Goodwill 2023-03-31 06445535 core:CostValuation 2023-03-31 06445535 2022-04-01 2023-03-31 06445535 2023-03-31 06445535 core:ShareCapital 2023-03-31 06445535 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06445535 core:Goodwill 2023-03-31 06445535 core:Subsidiary1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06445535

Graham Sykes Holdings Limited

Filleted Unaudited Financial Statements

for the Period from 1 April 2023 to 31 December 2023

 

Graham Sykes Holdings Limited
(Registration number: 06445535)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Graham Sykes Holdings Limited
(Registration number: 06445535)

Company Information

Directors

I R McManus

D J Goodman

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Graham Sykes Holdings Limited
(Registration number: 06445535)

Balance Sheet as at 31 December 2023

Note

2023
£

2023
£

Fixed assets

 

Intangible assets

4

33,419

53,471

Investments

2

2

 

33,421

53,473

Creditors: Amounts falling due within one year

6

(33,321)

(53,373)

Net assets

 

100

100

Capital and reserves

 

Called up share capital

100

100

Total equity

 

100

100

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 September 2024 and signed on its behalf by:
 

.........................................
I R McManus
Director

 

Graham Sykes Holdings Limited
(Registration number: 06445535)

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Graham Sykes Holdings Limited
(Registration number: 06445535)

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

Asset class

Amortisation method and rate

Goodwill

10% Straight line basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

 

Graham Sykes Holdings Limited
(Registration number: 06445535)

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

419,375

419,375

At 31 December 2023

419,375

419,375

Amortisation

At 1 April 2023

365,904

365,904

Amortisation charge

20,052

20,052

At 31 December 2023

385,956

385,956

Carrying amount

At 31 December 2023

33,419

33,419

At 31 March 2023

53,471

53,471

5

Investments

2023
£

2023
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

At 1 April 2023

2

Provision

Carrying amount

At 31 December 2023

2

At 31 March 2023

2

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Graham Sykes Holdings Limited
(Registration number: 06445535)

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2023

Subsidiary undertakings

Graham Sykes Limited

28 Alexandra Terrace
Exmouth, Devon
EX8 1BD

Ordinary

100%

100%

 

England and Wales

     

Subsidiary undertakings

Graham Sykes Limited

The principal activity of Graham Sykes Limited is Insurance products and services.

6

Creditors

Note

2023
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

33,321

53,373

7

Parent and ultimate parent undertaking

The company's immediate parent is Noble Insurance Group Limited, incorporated in England and Wales.