2024-03-012025-02-282025-02-28false04260512The Sykeside Partnership 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The Sykeside Partnership Limited

Registered Number
04260512
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2025

The Sykeside Partnership Limited
Company Information
for the year from 1 March 2024 to 28 February 2025

Directors

METCALFE, Alan Geoffrey
METCALFE, Ian David Geoffrey
METCALFE, Lucy Suzanne

Company Secretary

METCALFE, Marie Elizabeth

Registered Address

Sykeside Camping Park
Brotherswater
Patterdale
CA11 0NZ

Registered Number

04260512 (England and Wales)
The Sykeside Partnership Limited
Statement of Financial Position
28 February 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets41,621,8421,625,567
1,621,8421,625,567
Current assets
Stocks518,34218,645
Debtors6681,734727,510
Cash at bank and on hand194,16484,236
894,240830,391
Creditors amounts falling due within one year7(122,129)(152,937)
Net current assets (liabilities)772,111677,454
Total assets less current liabilities2,393,9532,303,021
Creditors amounts falling due after one year8(1,666,502)(1,589,273)
Net assets727,451713,748
Capital and reserves
Called up share capital62,50062,500
Share premium187,494187,494
Profit and loss account477,457463,754
Shareholders' funds727,451713,748
The financial statements were approved and authorised for issue by the Board of Directors on 15 April 2025, and are signed on its behalf by:
METCALFE, Alan Geoffrey
Director
METCALFE, Ian David Geoffrey
Director
METCALFE, Lucy Suzanne
Director

Registered Company No. 04260512
The Sykeside Partnership Limited
Notes to the Financial Statements
for the year ended 28 February 2025

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.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. 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.
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 initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets’; residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings250
Plant and machinery5
Fixtures and fittings5
Office Equipment5
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 Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
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). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20252024
Average number of employees during the year1010
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 March 2460,40060,400
At 28 February 2560,40060,400
Amortisation and impairment
At 01 March 2460,40060,400
At 28 February 2560,40060,400
Net book value
At 28 February 25--
At 29 February 24--
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 March 241,562,367332,700215,76613,5942,124,427
Additions-29,132--29,132
At 28 February 251,562,367361,832215,76613,5942,153,559
Depreciation and impairment
At 01 March 2462,518222,697202,19611,449498,860
Charge for year2,70126,9432,26494932,857
At 28 February 2565,219249,640204,46012,398531,717
Net book value
At 28 February 251,497,148112,19211,3061,1961,621,842
At 29 February 241,499,849110,00313,5702,1451,625,567
5.Stocks

2025

2024

££
Finished goods18,34218,645
Total18,34218,645
6.Debtors: amounts due within one year

2025

2024

££
Amounts owed by group undertakings675,019720,802
Prepayments and accrued income6,7156,708
Total681,734727,510
7.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables25,41645,985
Bank borrowings and overdrafts30,13750,000
Taxation and social security16,83034,009
Finance lease and HP contracts27,9381,172
Other creditors142105
Accrued liabilities and deferred income21,66621,666
Total122,129152,937
Bank borrowings and overdrafts are secured by a fixed and floating charge over the company’s assets. Finance lease and HP contracts are secured on the assets concerned.
8.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts1,666,5021,561,334
Other creditors-27,939
Total1,666,5021,589,273
Bank borrowings and overdrafts are secured by a fixed and floating charge over the company’s assets. Finance lease and HP contracts are secured on the assets concerned. Bank borrowings are repayable after more than five years amount to £1,545,953 (2024 - £1,361,334).
9.Obligations under finance leases

2025

2024

££
Finance lease and HP contracts-27,938
10.Related party transactions
Sykeside Holdings Limited, the parent company, has given security against the bank loan held by this company. Included in debtors is an amount of £675,019 owed from Sykeside Holdings Limited (2024: £720,802).
11.Parent-subsidiary relationships
As part of a small group, this company is exempt from producing group accounts. These accounts are for this company alone. This company's parent undertaking is Sykeside Holding Limited, a company registered in England and Wales under the company number 06458736.