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SYKES VIDEO LINKS LTD

Registered Number
02002175
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

SYKES VIDEO LINKS LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

Mrs A C Sykes
Mr G J Sykes

Company Secretary

Mr G J Sykes

Registered Address

44 Mill Road
Lincoln
LN1 3JJ

Registered Number

02002175 (England and Wales)
SYKES VIDEO LINKS LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets387,26781,124
87,26781,124
Current assets
Stocks4138,618143,642
Debtors5728,551620,681
Current asset investments61,243,2331,227,019
Cash at bank and on hand25,60625,266
2,136,0082,016,608
Creditors amounts falling due within one year7(133,415)(110,011)
Net current assets (liabilities)2,002,5931,906,597
Total assets less current liabilities2,089,8601,987,721
Creditors amounts falling due after one year8(240)(240)
Provisions for liabilities9(4,518)(5,089)
Net assets2,085,1021,982,392
Capital and reserves
Called up share capital1,1231,123
Profit and loss account2,083,9791,981,269
Shareholders' funds2,085,1021,982,392
The financial statements were approved and authorised for issue by the Board of Directors on 15 January 2025, and are signed on its behalf by:
Mr G J Sykes
Director
Registered Company No. 02002175
SYKES VIDEO LINKS LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-25
Fixtures and fittings-5
Vehicles25-
Office Equipment-10
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year77
3.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 May 2360,21210,3054,67416,53291,723
Additions--2089,6389,846
At 30 April 2460,21210,3054,88226,170101,569
Depreciation and impairment
At 01 May 23-1,6493,4405,51010,599
Charge for year-8664852,3523,703
At 30 April 24-2,5153,9257,86214,302
Net book value
At 30 April 2460,2127,79095718,30887,267
At 30 April 2360,2128,6561,23411,02281,124
Included within the net book value of land and buildings above is £60,212 (2023 - £60,212) in respect of short leasehold land and buildings.
4.Stocks

2024

2023

££
Raw materials and consumables138,618143,642
Total138,618143,642
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables24,41828,208
Amounts owed by group undertakings91,32391,323
Other debtors609,758498,026
Prepayments and accrued income3,0523,124
Total728,551620,681
6.Current asset investments
Current financial assets are financial assets at fair value through profit and loss. Balance at 1st May 2023 £1,227,019 Additions £0 Disposals (£319,067) Change in fair value £181,109 Cash movement £154,172 Balance at 30th April 2024 £1,243,233
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables71,91136,745
Taxation and social security15,75531,709
Payments received on account2,2413,670
Other creditors15,61016,986
Accrued liabilities and deferred income27,89820,901
Total133,415110,011
8.Creditors: amounts due after one year

2024

2023

££
Other creditors240240
Total240240
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,5185,089
Total4,5185,089
10.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mr G J Sykes(8,362)176,71744,000124,355
(8,362)176,71744,000124,355
Interest has been charged at the official rate.