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Company No: 3578603 (England and Wales)

SYSCO PRODUCTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

SYSCO PRODUCTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

SYSCO PRODUCTIONS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
SYSCO PRODUCTIONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 186,197 313,353
186,197 313,353
Current assets
Stocks 4 157,966 35,693
Debtors 5 910,370 1,931,293
Cash at bank and in hand 6 1,972,912 750,831
3,041,248 2,717,817
Creditors: amounts falling due within one year 7 ( 1,515,334) ( 1,409,613)
Net current assets 1,525,914 1,308,204
Total assets less current liabilities 1,712,111 1,621,557
Creditors: amounts falling due after more than one year 8 ( 38,340) ( 158,152)
Provision for liabilities 9 ( 18,313) ( 37,863)
Net assets 1,655,458 1,425,542
Capital and reserves
Called-up share capital 11 100 100
Profit and loss account 1,655,358 1,425,442
Total shareholder's funds 1,655,458 1,425,542

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Sysco Productions Limited (registered number: 3578603) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

MPL Burgin
Director
HJA Roche
Director

21 May 2025

SYSCO PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
SYSCO PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sysco Productions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 4 years straight line
Fixtures and fittings 4 years straight line
Office equipment 4 years straight line
Computer equipment 4 years straight line
Other property, plant and equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 28 28

3. Tangible assets

Vehicles Fixtures and fittings Office equipment Computer equipment Other property, plant
and equipment
Total
£ £ £ £ £ £
Cost
At 01 January 2024 52,062 142,518 19,424 93,356 337,928 645,288
Additions 0 1,209 0 12,999 0 14,208
At 31 December 2024 52,062 143,727 19,424 106,355 337,928 659,496
Accumulated depreciation
At 01 January 2024 20,558 130,717 19,424 76,754 84,482 331,935
Charge for the financial year 13,016 6,603 0 9,102 112,643 141,364
At 31 December 2024 33,574 137,320 19,424 85,856 197,125 473,299
Net book value
At 31 December 2024 18,488 6,407 0 20,499 140,803 186,197
At 31 December 2023 31,504 11,801 0 16,602 253,446 313,353

4. Stocks

2024 2023
£ £
Stocks 0 6,863
Work in progress 157,966 28,830
157,966 35,693

5. Debtors

2024 2023
£ £
Trade debtors 361,015 1,240,364
Amounts owed by group undertakings 370,390 368,390
Corporation tax 0 10,446
Other debtors 178,965 312,093
910,370 1,931,293

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 1,972,912 750,831

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 418,339 607,518
Amounts owed to group undertakings 27,339 31,016
Taxation and social security 143,859 47,623
Obligations under finance leases and hire purchase contracts (secured) 119,813 105,541
Other creditors 805,984 617,915
1,515,334 1,409,613

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 38,340 158,152

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 37,863) ( 13,230)
Credited/(charged) to the Statement of Income and Retained Earnings 19,550 ( 24,633)
At the end of financial year ( 18,313) ( 37,863)

The deferred taxation balance is made up as follows:

2024 2023
£ £
Accelerated capital allowances ( 26,369) ( 42,014)
Tax losses carry forward 0 3,608
Other timing differences 8,056 543
( 18,313) ( 37,863)

10. Financial instruments

11. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

12. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 30,000 15,000
between one and five years 30,000 0
60,000 15,000

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 5,266 5,073

13. Ultimate controlling party

Parent Company:

Longcrest Limited
35 Ballards Lane, London N3 1XW