Syke Farm Ltd SC669985 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is other letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true true SC669985 2023-09-01 2024-08-31 SC669985 2024-08-31 SC669985 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC669985 core:ShareCapital 2024-08-31 SC669985 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 SC669985 bus:SmallEntities 2023-09-01 2024-08-31 SC669985 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC669985 bus:FullAccounts 2023-09-01 2024-08-31 SC669985 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC669985 bus:RegisteredOffice 2023-09-01 2024-08-31 SC669985 bus:Director1 2023-09-01 2024-08-31 SC669985 bus:Director2 2023-09-01 2024-08-31 SC669985 bus:Director3 2023-09-01 2024-08-31 SC669985 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC669985 core:PlantMachinery 2023-09-01 2024-08-31 SC669985 countries:Scotland 2023-09-01 2024-08-31 SC669985 2023-08-31 SC669985 2022-09-01 2023-08-31 SC669985 2023-08-31 SC669985 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC669985 core:ShareCapital 2023-08-31 SC669985 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 iso4217:GBP xbrli:pure

Registration number: SC669985

Syke Farm Ltd

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2024

 

Syke Farm Ltd

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

Syke Farm Ltd

(Registration number: SC669985)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,494

9,994

Investment property

5

1,270,406

1,239,257

 

1,278,900

1,249,251

Current assets

 

Debtors

8,947

224,422

Cash at bank and in hand

 

15,144

12,527

 

24,091

236,949

Creditors: Amounts falling due within one year

(1,243,501)

(1,487,346)

Net current liabilities

 

(1,219,410)

(1,250,397)

Net assets/(liabilities)

 

59,490

(1,146)

Capital and reserves

 

Called up share capital

120

120

Profit and loss account

59,370

(1,266)

Total equity

 

59,490

(1,146)

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

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 17 May 2025 and signed on its behalf by:
 

WM Crawshaw

Director

A McKenzie

Director

J Morris

Director

 

Syke Farm Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Dykemuir
Mauchline
Ayrshire
KA5 6EY

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. Of the company's current liabilities, an amount is owed to the directors, who have agreed to continue to support the company, and not to demand repayment of this amount to the extent that any such repayment would jeopardise the future of the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

 

Syke Farm Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

33% Straight line

Investment property

Investment property is carried at fair value. Formal valuations have not been made but the directors consider that the market value of the property does not differ materially from original cost. Any changes in fair value are recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Total
£

Cost or valuation

At 1 September 2023

12,633

At 31 August 2024

12,633

Depreciation

At 1 September 2023

2,639

Charge for the year

1,500

At 31 August 2024

4,139

Carrying amount

At 31 August 2024

8,494

At 31 August 2023

9,994

5

Investment properties

2024
£

At 1 September 2023

1,239,257

Additions

31,149

At 31 August

1,270,406

There has been no valuation of investment property by an independent valuer.