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Registration number: 14838691

Sycamore Managed Funding Ltd

Unaudited Filleted Financial Statements

for the Period from 2 May 2023 to 31 May 2024

 

Sycamore Managed Funding Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Sycamore Managed Funding Ltd

Company Information

Directors

Mrs Kiera Simon

Mr Rick Fletcher

Mrs Marie Cowell

Registered office

Meridian House
St David’s Bridge
Cranbrook
Kent
TN17 3HL

Accountants

Association of Independent Accountants and Auditors
17 Hanover Square
London
W1S 1BN

 

Sycamore Managed Funding Ltd

(Registration number: 14838691)
Balance Sheet as at 31 May 2024

Note

2024
£

Current assets

 

Debtors

4

14,785,775

Cash at bank and in hand

 

4,135,234

 

18,921,009

Creditors: Amounts falling due within one year

5

(32,400)

Total assets less current liabilities

 

18,888,609

Creditors: Amounts falling due after more than one year

5

(14,080,000)

Net assets

 

4,808,609

Capital and reserves

 

Called up share capital

6

5,000,000

Retained earnings

(191,391)

Shareholders' funds

 

4,808,609

For the financial period ending 31 May 2024 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 January 2025 and signed on its behalf by:
 

.........................................
Mrs Marie Cowell
Director

 

Sycamore Managed Funding Ltd

Notes to the Unaudited Financial Statements for the Period from 2 May 2023 to 31 May 2024

1

General information

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

The address of its registered office is:
Meridian House
St David’s Bridge
Cranbrook
Kent
TN17 3HL
United Kingdom

These financial statements were authorised for issue by the Board on 16 January 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Sycamore Managed Funding Ltd

Notes to the Unaudited Financial Statements for the Period from 2 May 2023 to 31 May 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

4

Debtors

 

Sycamore Managed Funding Ltd

Notes to the Unaudited Financial Statements for the Period from 2 May 2023 to 31 May 2024

Current

2024
£

Trade debtors

14,080,000

Prepayments

5,775

Other debtors

700,000

 

14,785,775

5

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

13,400

Accruals and deferred income

19,000

32,400

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

7

14,080,000

6

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £100 each

50,000

5,000,000

   

7

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

14,080,000