| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st May 2024 |
| for |
| SYKES SPECIALIST CONTRACTING LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st May 2024 |
| for |
| SYKES SPECIALIST CONTRACTING LIMITED |
| SYKES SPECIALIST CONTRACTING LIMITED (REGISTERED NUMBER: 05829313) |
| Contents of the Financial Statements |
| for the Year Ended 31st May 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SYKES SPECIALIST CONTRACTING LIMITED |
| Company Information |
| for the Year Ended 31st May 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 41 St Thomas's Road |
| Chorley |
| Lancashire |
| PR7 1JE |
| SYKES SPECIALIST CONTRACTING LIMITED (REGISTERED NUMBER: 05829313) |
| Balance Sheet |
| 31st May 2024 |
| 31.5.24 | 31.5.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| SYKES SPECIALIST CONTRACTING LIMITED (REGISTERED NUMBER: 05829313) |
| Balance Sheet - continued |
| 31st May 2024 |
| The financial statements were approved by the director and authorised for issue on |
| SYKES SPECIALIST CONTRACTING LIMITED (REGISTERED NUMBER: 05829313) |
| Notes to the Financial Statements |
| for the Year Ended 31st May 2024 |
| 1. | STATUTORY INFORMATION |
| Sykes Specialist Contracting Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue recognition |
| Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied and services rendered, stated net of discounts and of Value Added Tax. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Impairment of Assets |
| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
| If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| SYKES SPECIALIST CONTRACTING LIMITED (REGISTERED NUMBER: 05829313) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st May 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Cash and cash equivalents |
| Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Plant and | Motor | Computer |
| property | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1st June 2023 |
| Additions |
| At 31st May 2024 |
| DEPRECIATION |
| At 1st June 2023 |
| Charge for year |
| At 31st May 2024 |
| NET BOOK VALUE |
| At 31st May 2024 |
| At 31st May 2023 |
| SYKES SPECIALIST CONTRACTING LIMITED (REGISTERED NUMBER: 05829313) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st May 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1st June 2023 |
| Additions |
| Transfer to ownership | (29,750 | ) |
| At 31st May 2024 |
| DEPRECIATION |
| At 1st June 2023 |
| Charge for year |
| Transfer to ownership | (14,996 | ) |
| At 31st May 2024 |
| NET BOOK VALUE |
| At 31st May 2024 |
| At 31st May 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Trade debtors |
| VAT |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | - | 27,062 |
| Other creditors |
| Directors' current accounts | 1,083 | 2,820 |
| Accrued expenses |
| SYKES SPECIALIST CONTRACTING LIMITED (REGISTERED NUMBER: 05829313) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st May 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Hire purchase contracts (see note 8) |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under hire purchase fall due as follows: |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| Hire purchase contracts are secured on the asset to which they relate. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| At 31 May 2024, the company owed £1,083 to its directors (2023: company owed £2,820 to its directors). No interest has been charged on this loan and it is repayable on demand. |
| 12. | ULTIMATE CONTROLLING PARTY |
| Throughout the current and previous year, Mr CAV Sykes has controlled the company by virtue of his majority holding of the issued ordinary share capital. |