SYTEX UK LIMITED - Filleted accounts

Registered number

06677774

SYTEX UK LIMITED

Filleted Accounts

31 August 2024

SYTEX UK LIMITED
Registered number:		06677774
Balance Sheet
as at 31 August 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		49,890			57,451
			49,890			57,451

Current assets
Stock and work in progress		49,160			35,180
Debtors	4	69,396			36,196
Cash at bank and in hand		112,959			100,423
		231,515			171,799

Creditors: amounts falling due within one year	5	(109,396)			(119,082)

Net current assets			122,119			52,717

Total assets less current liabilities			172,009			110,168

Creditors: amounts falling due after more than one year	6		(41,790)			1,587

Provisions for liabilities			-			-

Net Assets			130,219			111,755

Capital and reserves
Called up share capital			2			2
Profit and loss account			130,217			111,753

Shareholders' funds			130,219			111,755


The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



Mr C Paterson
Director
Approved by the board on 7 November 2024

SYTEX UK LIMITED
Notes to the Accounts
for the year ended 31 August 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	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 from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			over 4 years
	Fixtures, fittings, tools and equipment			over 4 years
	Motor Vehicles			15% Reducing balance
	Leasehold improvements			15% Reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.

2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					8		9

3	Tangible fixed assets
		Leasehold Improvements		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 September 2023	21,805		145,360		15,000		182,165
	Additions	-		3,292		-		3,292
	Surplus on revaluation	-		-		-		-
	Disposals	-		-		-		-
	At 31 August 2024	21,805		148,652		15,000		185,457

	Depreciation
	At 1 September 2023	1,434		112,286		10,993		124,713
	Charge for the year	235		10,018		601		10,854
	Surplus on revaluation	-		-		-		-
	On disposals	-		-		-		-
	At 31 August 2024	1,669		122,304		11,594		135,567

	Net book value
	At 31 August 2024	20,136		26,348		3,406		49,890
	At 31 August 2023	20,371		33,074		4,007		57,452


4	Debtors					2024		2023
£							£

	Trade debtors					63,714		30,600
	Accrued income					-		-
	Prepayments					5,682		5,596
						69,396		36,196

	Amounts due after more than one year included above					-		-

5	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					10,108		10,108
	Trade creditors					9,615		30,394
	Pensions					1,181		1,031
	Taxation and social security costs					85,942		74,474
	Other creditors					2,550		3,075
						109,396		119,082


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					7,626		17,734
	Trade creditors					-		-
	Other creditors					34,164		(19,321)
						41,790		(1,587)

7	Related party transactions

	No related party transactions were undertaken during the year as are required to be diclosed under the FRS.

8	Controlling party

	The company was under the common control of Mr C and Mrs J Paterson throughout the current and previous year.

9	Other information

	Sytex UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
	63-66 Hatton Garden
	London
	EC1N 8LE