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REGISTERED NUMBER: 11212631 (England and Wales)















Unaudited Financial Statements For The Year Ended 29 February 2024

for

Foster & Sykes Limited

Foster & Sykes Limited (Registered number: 11212631)






Contents of the Financial Statements
For The Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Foster & Sykes Limited

Company Information
For The Year Ended 29 February 2024







DIRECTORS: C L Sykes
J P Foster





REGISTERED OFFICE: 19 Helsington Road
Kendal
Cumbria
LA9 5JR





REGISTERED NUMBER: 11212631 (England and Wales)





ACCOUNTANTS: Fuller Spurling
Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE

Foster & Sykes Limited (Registered number: 11212631)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 828
Investment property 5 726,843 726,843
726,843 727,671

CURRENT ASSETS
Debtors 6 3,919 5,501
Cash at bank 16,409 18,639
20,328 24,140
CREDITORS
Amounts falling due within one year 7 446,734 464,768
NET CURRENT LIABILITIES (426,406 ) (440,628 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

300,437

287,043

CREDITORS
Amounts falling due after more than one year 8 277,100 276,600
NET ASSETS 23,337 10,443

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 23,335 10,441
23,337 10,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Foster & Sykes Limited (Registered number: 11212631)

Balance Sheet - continued
29 February 2024


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 Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by:





J P Foster - Director


Foster & Sykes Limited (Registered number: 11212631)

Notes to the Financial Statements
For The Year Ended 29 February 2024

1. STATUTORY INFORMATION

Foster & Sykes 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.

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.

Turnover
Turnover consists of rent receivable as it falls due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 4 years
Computer equipment - Straight line over 3 years

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.

Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation represents the sum of tax currently payable, and deferred tax if material.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax, where material, is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Foster & Sykes Limited (Registered number: 11212631)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Debtors
Debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 18,053 907 18,960
DEPRECIATION
At 1 March 2023 17,225 907 18,132
Charge for year 828 - 828
At 29 February 2024 18,053 907 18,960
NET BOOK VALUE
At 29 February 2024 - - -
At 28 February 2023 828 - 828

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 726,843
NET BOOK VALUE
At 29 February 2024 726,843
At 28 February 2023 726,843

Foster & Sykes Limited (Registered number: 11212631)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

5. INVESTMENT PROPERTY - continued

Investment properties are shown at historical cost, which the directors consider to fairly represent open market values at 28th February 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 3,500 5,147
Prepayments and accrued income 419 354
3,919 5,501

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Corporation tax 3,219 2,255
Directors' current accounts 442,079 459,733
Accrued expenses 1,436 2,780
446,734 464,768

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans more 5 yrs non-inst 277,100 276,600

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 277,100 276,600

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 277,100 276,600

The mortgages are secured on the investment properties.