Silverfin false false 31/07/2024 01/08/2023 31/07/2024 S Matthews 21/10/2008 G J Matthews 06/01/2020 K L Matthews 23/10/2014 30 October 2024 The principal activity of the Company during the financial year was that of a holding company and providing safety training services to the marine industry 06728699 2024-07-31 06728699 bus:Director1 2024-07-31 06728699 bus:Director2 2024-07-31 06728699 bus:Director3 2024-07-31 06728699 2023-07-31 06728699 core:CurrentFinancialInstruments 2024-07-31 06728699 core:CurrentFinancialInstruments 2023-07-31 06728699 core:Non-currentFinancialInstruments 2024-07-31 06728699 core:Non-currentFinancialInstruments 2023-07-31 06728699 core:ShareCapital 2024-07-31 06728699 core:ShareCapital 2023-07-31 06728699 core:FurtherSpecificReserve3ComponentTotalEquity 2024-07-31 06728699 core:FurtherSpecificReserve3ComponentTotalEquity 2023-07-31 06728699 core:RetainedEarningsAccumulatedLosses 2024-07-31 06728699 core:RetainedEarningsAccumulatedLosses 2023-07-31 06728699 core:LandBuildings 2023-07-31 06728699 core:PlantMachinery 2023-07-31 06728699 core:OfficeEquipment 2023-07-31 06728699 core:LandBuildings 2024-07-31 06728699 core:PlantMachinery 2024-07-31 06728699 core:OfficeEquipment 2024-07-31 06728699 core:CostValuation 2023-07-31 06728699 core:AdditionsToInvestments 2024-07-31 06728699 core:CostValuation 2024-07-31 06728699 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-07-31 06728699 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-07-31 06728699 2023-08-01 2024-07-31 06728699 bus:FilletedAccounts 2023-08-01 2024-07-31 06728699 bus:SmallEntities 2023-08-01 2024-07-31 06728699 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 06728699 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 06728699 bus:Director1 2023-08-01 2024-07-31 06728699 bus:Director2 2023-08-01 2024-07-31 06728699 bus:Director3 2023-08-01 2024-07-31 06728699 core:LandBuildings core:TopRangeValue 2023-08-01 2024-07-31 06728699 core:PlantMachinery 2023-08-01 2024-07-31 06728699 core:OfficeEquipment 2023-08-01 2024-07-31 06728699 2022-08-01 2023-07-31 06728699 core:LandBuildings 2023-08-01 2024-07-31 06728699 core:Non-currentFinancialInstruments 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Company No: 06728699 (England and Wales)

SIRYN LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

SIRYN LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

SIRYN LIMITED

BALANCE SHEET

As at 31 July 2024
SIRYN LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 626,546 581,853
Investments 4 279,363 279,263
905,909 861,116
Current assets
Debtors 5 383,437 236,028
Cash at bank and in hand 25,111 21,137
408,548 257,165
Creditors: amounts falling due within one year 6 ( 30,529) ( 33,919)
Net current assets 378,019 223,246
Total assets less current liabilities 1,283,928 1,084,362
Creditors: amounts falling due after more than one year 7 ( 267,381) ( 279,840)
Provision for liabilities ( 19,205) ( 19,205)
Net assets 997,342 785,317
Capital and reserves
Called-up share capital 100 100
Undistributable reserve 105,810 105,810
Profit and loss account 891,432 679,407
Total shareholders' funds 997,342 785,317

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Siryn Limited (registered number: 06728699) were approved and authorised for issue by the Board of Directors on 30 October 2024. They were signed on its behalf by:

S Matthews
Director
SIRYN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
SIRYN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Siryn Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, Dorset. BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 20 years straight line
Plant and machinery 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 3

3. Tangible assets

Land and buildings Plant and machinery Office equipment Total
£ £ £ £
Cost
At 01 August 2023 635,481 1,037 8,534 645,052
Additions 52,349 0 459 52,808
At 31 July 2024 687,830 1,037 8,993 697,860
Accumulated depreciation
At 01 August 2023 55,764 600 6,835 63,199
Charge for the financial year 7,544 109 462 8,115
At 31 July 2024 63,308 709 7,297 71,314
Net book value
At 31 July 2024 624,522 328 1,696 626,546
At 31 July 2023 579,717 437 1,699 581,853

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 August 2023 279,263
Additions 100
At 31 July 2024 279,363
Carrying value at 31 July 2024 279,363
Carrying value at 31 July 2023 279,263

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 37,057 62,954
Amounts owed by related parties 19,574 14,493
Corporation tax 24,783 24,783
Other debtors 302,023 133,798
383,437 236,028

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 11,919 11,036
Trade creditors 1,060 0
Other taxation and social security 10,178 9,795
Other creditors 7,372 13,088
30,529 33,919

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 267,381 279,840

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
S Matthews 123,802 100,458
G Matthews 42,362 399

Advances

An advance for Directors Loan accounts was made to the directors on 31 July 2023 for £100,458 (at interest rate of 2.25%) . £0 has been repaid, £0 has been written off, and £0 has been waived.

An advance for Directors loan accounts was made to the directors on 31 July 2024 for £267,021 (at interest rate of 2.25%). £0 has been repaid, £0 has been written off, and £0 has been waived.

The total liability incurred under advances is £267,622, the total amount repaid are £0, the total amounts written-off are £0 and the total amounts waived are £0.