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Sykeside Holdings Limited

Registered Number
06458736
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2025

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

Directors

METCALFE, Alan Geoffrey
METCALFE, Ian David Geoffrey
METCALFE, Marie Elizabeth

Company Secretary

METCALFE, Marie Elizabeth

Registered Address

Sykeside Camping Park,
Brotherswater, Patterdale
Cumbria
CA11 0NZ

Registered Number

06458736 (England and Wales)
Sykeside Holdings Limited
Statement of Financial Position
28 February 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets3415,000417,500
Investments41,005,0051,005,005
1,420,0051,422,505
Current assets
Cash at bank and on hand2,1772,290
2,1772,290
Creditors amounts falling due within one year5(839,132)(883,632)
Net current assets (liabilities)(836,955)(881,342)
Total assets less current liabilities583,050541,163
Net assets583,050541,163
Capital and reserves
Called up share capital83,33383,333
Share premium249,999249,999
Profit and loss account249,718207,831
Shareholders' funds583,050541,163
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, Marie Elizabeth
Director

Registered Company No. 06458736
Sykeside Holdings 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 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.
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 buildings180
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 Statement of Income.
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 year33
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 March 24450,000450,000
At 28 February 25450,000450,000
Depreciation and impairment
At 01 March 2432,50032,500
Charge for year2,5002,500
At 28 February 2535,00035,000
Net book value
At 28 February 25415,000415,000
At 29 February 24417,500417,500
4.Fixed asset investments
Investments in group undertakings and participating interests

Investments in groups1

Total

££
Cost or valuation
At 01 March 241,005,0051,005,005
At 28 February 251,005,0051,005,005
Net book value
At 28 February 251,005,0051,005,005
At 29 February 241,005,0051,005,005

Notes

1Investments in group undertakings and participating interests
5.Creditors: amounts due within one year

2025

2024

££
Amounts owed to related parties675,019720,802
Taxation and social security15,25514,461
Other creditors148,858148,369
Total839,132883,632
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.
6.Contingent liabilities
The company has granted security for a loan held by The Sykeside Partnership Limited, a wholly owned subsidiary. At the balance sheet date the amount outstanding on the loan was £1,696,639.
7.Related party transactions
Included in other creditors is an amount of £675,019 owed to The Sykeside Partnership Limited (2024: £720,802). On 1 March 2024 the Directors were owed £148,368 by the company. During the period the company were advanced a further £1,000 and repaid £5,512. At 28 February 2025, the company owed the Directors £143,856. No interest was charged on this loan, and the loan is repayable on demand.
8.Parent-subsidiary relationships
The company, and the group headed by it, qualify as a small group as such the parent and the group are exempt from producing group accounts.