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REGISTERED NUMBER: 05069323















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

SYLMASTA LIMITED

SYLMASTA LIMITED (REGISTERED NUMBER: 05069323)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SYLMASTA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: S Bedding





SECRETARY: Mrs J Bedding





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 05069323





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

SYLMASTA LIMITED (REGISTERED NUMBER: 05069323)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 57,760 70,805
Investments 4 - 216,852
Investment property 5 260,000 -
317,760 287,657

CURRENT ASSETS
Stocks 6 107,393 58,943
Debtors 7 277,451 220,886
Cash at bank and in hand 54,807 76,733
439,651 356,562
CREDITORS
Amounts falling due within one year 8 242,078 225,026
NET CURRENT ASSETS 197,573 131,536
TOTAL ASSETS LESS CURRENT
LIABILITIES

515,333

419,193

CREDITORS
Amounts falling due after more than one
year

9

(173,513

)

(180,511

)

PROVISIONS FOR LIABILITIES (25,229 ) -
NET ASSETS 316,591 238,682

CAPITAL AND RESERVES
Called up share capital 8 8
Non distributable reserve 10 32,363 -
Retained earnings 284,220 238,674
SHAREHOLDERS' FUNDS 316,591 238,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SYLMASTA LIMITED (REGISTERED NUMBER: 05069323)

BALANCE SHEET - continued
30 APRIL 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 director and authorised for issue on 27 January 2025 and were signed by:





S Bedding - Director


SYLMASTA LIMITED (REGISTERED NUMBER: 05069323)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. 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 as modified by the revaluation of certain assets.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 11 ) .

SYLMASTA LIMITED (REGISTERED NUMBER: 05069323)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 113,002 6,869 10,909 130,780
Additions 6,331 416 2,199 8,946
Disposals (8,241 ) (157 ) (1,792 ) (10,190 )
At 30 April 2024 111,092 7,128 11,316 129,536
DEPRECIATION
At 1 May 2023 48,569 3,981 7,425 59,975
Charge for year 16,084 805 1,235 18,124
Eliminated on disposal (4,614 ) (140 ) (1,569 ) (6,323 )
At 30 April 2024 60,039 4,646 7,091 71,776
NET BOOK VALUE
At 30 April 2024 51,053 2,482 4,225 57,760
At 30 April 2023 64,433 2,888 3,484 70,805

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 216,852
PROVISIONS

Reclassification 216,852
At 30 April 2024 216,852
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 216,852

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Revaluations 43,150
Reclassification/transfer 216,850
At 30 April 2024 260,000
NET BOOK VALUE
At 30 April 2024 260,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 43,150
Cost 216,850
260,000

SYLMASTA LIMITED (REGISTERED NUMBER: 05069323)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. STOCKS
2024 2023
£    £   
Stocks 107,393 58,943

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 272,736 218,686
Other debtors 3,000 2,200
Prepayments 1,715 -
277,451 220,886

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 126,106 118,960
Amounts owed to group undertakings 34,820 35,227
Tax 61,881 45,033
Social security and other taxes 4,192 2,082
VAT 1,727 11,975
Other creditors 1,080 -
Accrued expenses 2,272 1,749
242,078 225,026

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 3,334 13,333
Bank loans more 5 yr by instal 160,179 157,178
173,513 180,511

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 160,179 157,178

10. RESERVES
Non
distributable
reserve
£   
Movement in the year 32,363

At 30 April 2024 32,363

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Bedding & Mrs J Bedding.

This was by virtue of their 100% holding of the issued share capital.