IRIS Accounts Production v24.3.2.46 09366802 Board of Directors 1.10.23 30.9.24 30.9.24 20.12.2024 false true false false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093668022023-09-30093668022024-09-30093668022023-10-012024-09-30093668022022-09-30093668022022-10-012023-09-30093668022023-09-3009366802ns15:EnglandWales2023-10-012024-09-3009366802ns14:PoundSterling2023-10-012024-09-3009366802ns10:Director12023-10-012024-09-3009366802ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3009366802ns10:SmallEntities2023-10-012024-09-3009366802ns10:Audited2023-10-012024-09-3009366802ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3009366802ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3009366802ns10:FullAccounts2023-10-012024-09-300936680212023-10-012024-09-3009366802ns10:OrdinaryShareClass12023-10-012024-09-3009366802ns10:Director22023-10-012024-09-3009366802ns10:Director32023-10-012024-09-3009366802ns10:Director42023-10-012024-09-3009366802ns10:Director62023-10-012024-09-3009366802ns10:Director72023-10-012024-09-3009366802ns10:CompanySecretary12023-10-012024-09-3009366802ns10:RegisteredOffice2023-10-012024-09-3009366802ns5:CurrentFinancialInstruments2024-09-3009366802ns5:CurrentFinancialInstruments2023-09-3009366802ns5:Non-currentFinancialInstruments2024-09-3009366802ns5:Non-currentFinancialInstruments2023-09-3009366802ns5:ShareCapital2024-09-3009366802ns5:ShareCapital2023-09-3009366802ns5:RetainedEarningsAccumulatedLosses2024-09-3009366802ns5:RetainedEarningsAccumulatedLosses2023-09-3009366802ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3009366802ns5:ComputerSoftware2023-10-012024-09-3009366802ns5:PlantMachinery2023-10-012024-09-3009366802ns5:IntangibleAssetsOtherThanGoodwill2023-09-3009366802ns5:IntangibleAssetsOtherThanGoodwill2024-09-3009366802ns5:IntangibleAssetsOtherThanGoodwill2023-09-3009366802ns5:PlantMachinery2023-09-3009366802ns5:PlantMachinery2024-09-3009366802ns5:PlantMachinery2023-09-3009366802ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3009366802ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3009366802ns10:OrdinaryShareClass12024-09-3009366802ns5:RetainedEarningsAccumulatedLosses2023-09-3009366802ns5:RetainedEarningsAccumulatedLosses2023-10-012024-09-30
REGISTERED NUMBER: 09366802 (England and Wales)












SYC OPERATIONS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024






SYC OPERATIONS LTD (REGISTERED NUMBER: 09366802)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SYC OPERATIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: Sussex Yacht Club Limited
D K Copeman
S Large
N Blake
G Weston
R Stevenson





SECRETARY: T D Leigh





REGISTERED OFFICE: 85/89 Brighton Road
Shoreham-By-Sea
West Sussex
BN43 6RF





REGISTERED NUMBER: 09366802 (England and Wales)





AUDITORS: Clark Brownscombe
Chartered Accountants
and Statutory Auditors
2 St Andrews Place
Lewes
East Sussex
BN7 1UP

SYC OPERATIONS LTD (REGISTERED NUMBER: 09366802)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 3,780 4,937
3,781 4,938

CURRENT ASSETS
Stocks 10,580 11,142
Debtors 6 5,587 8,007
Cash at bank and in hand 4,877 42,546
21,044 61,695
CREDITORS
Amounts falling due within one year 7 74,023 68,633
NET CURRENT LIABILITIES (52,979 ) (6,938 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(49,198

)

(2,000

)

CREDITORS
Amounts falling due after more than one
year

8

17,335

27,404
NET LIABILITIES (66,533 ) (29,404 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (66,633 ) (29,504 )
SHAREHOLDERS' FUNDS (66,533 ) (29,404 )

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 9th December 2024 and were signed on its behalf by:





D K Copeman - Director


SYC OPERATIONS LTD (REGISTERED NUMBER: 09366802)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. STATUTORY INFORMATION

SYC Operations Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

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 etc - 15% on cost

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.

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.

Going concern
The directors have reviewed the company's forecasts and projections and the directors believe that the company will be able to continue for a period of at least twelve months after the financial statements have been signed on the basis that the CASC will support the company. The company therefore continues to adopt the going concern basis in preparing its financial statements.

SYC OPERATIONS LTD (REGISTERED NUMBER: 09366802)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st October 2023
and 30th September 2024 2,128
AMORTISATION
At 1st October 2023
and 30th September 2024 2,127
NET BOOK VALUE
At 30th September 2024 1
At 30th September 2023 1

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2023 7,456
Disposals (46 )
At 30th September 2024 7,410
DEPRECIATION
At 1st October 2023 2,519
Charge for year 1,111
At 30th September 2024 3,630
NET BOOK VALUE
At 30th September 2024 3,780
At 30th September 2023 4,937

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,587 634
Other debtors - 7,373
5,587 8,007

SYC OPERATIONS LTD (REGISTERED NUMBER: 09366802)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,274 -
Trade creditors 28,955 33,124
Taxation and social security 18,106 21,264
Other creditors 22,688 14,245
74,023 68,633

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 17,335 27,404

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1st October 2023 (29,504 )
Deficit for the year (37,129 )
At 30th September 2024 (66,633 )

SYC OPERATIONS LTD (REGISTERED NUMBER: 09366802)

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


11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
Due to the lack of satisfactory controls and records kept at the point of sale at the bar and also a lack of controls and records for stock we were unable to satisfy ourselves as to the completeness of income or the existence of stock.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Victoria Anderson BA(Hons) FCA DChA (Senior Statutory Auditor)
for and on behalf of Clark Brownscombe

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.