Company registration number 13157231 (England and Wales)
SYKES ADVENTURE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
SYKES ADVENTURE LIMITED
COMPANY INFORMATION
Director
Mr S A Sykes
Company number
13157231
Registered office
13 Chatham Avenue
Lytham St. Annes
FY8 2RT
Accountants
MHA
Kendal House
Murley Moss Business Village
Oxenholme Road
Kendal
LA9 7RL
SYKES ADVENTURE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SYKES ADVENTURE LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
31 October 2024
31 January 2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
386
1,418
Tangible assets
4
3,217
5,086
3,603
6,504
Current assets
Debtors
5
4,291
251
Cash at bank and in hand
8,396
11,846
12,687
12,097
Creditors: amounts falling due within one year
6
(25,614)
(22,941)
Net current liabilities
(12,927)
(10,844)
Net liabilities
(9,324)
(4,340)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(9,424)
(4,440)
Total equity
(9,324)
(4,340)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 29 May 2025
Mr S A Sykes
Director
Company registration number 13157231 (England and Wales)
SYKES ADVENTURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

Sykes Adventure Limited is a private company limited by shares incorporated in England and Wales. The registered office is 13 Chatham Avenue, Lytham St. Annes, FY8 2RT.

1.1
Reporting period

During this accounting period, the directors took the decision to shorten the company's financial period to a 9 month period ending on 31 October 2024. The reason for this is to align the financial periods with the group that the company joined on 30 January 2024. The comparative amounts in the financial statements (including related notes) represent the year end of 31 January 2024 and are therefore not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

SYKES ADVENTURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
33% straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% straight line
Fixtures and fittings
33% straight line

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.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2024
Number
Number
Total
1
1
SYKES ADVENTURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 4 -
3
Intangible fixed assets
Other
£
Cost
At 1 February 2024 and 31 October 2024
4,170
Amortisation and impairment
At 1 February 2024
2,752
Amortisation charged for the period
1,032
At 31 October 2024
3,784
Carrying amount
At 31 October 2024
386
At 31 January 2024
1,418
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2024 and 31 October 2024
7,990
Depreciation and impairment
At 1 February 2024
2,904
Depreciation charged in the period
1,869
At 31 October 2024
4,773
Carrying amount
At 31 October 2024
3,217
At 31 January 2024
5,086
5
Debtors
2024
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
251
Other debtors
4,291
-
0
4,291
251
SYKES ADVENTURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2024
£
£
Trade creditors
1,890
425
Amounts owed to group undertakings
21,620
19,402
Other creditors
2,104
3,114
25,614
22,941
7
Called up share capital
2024
2024
2024
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Parent company

The company became a wholly owned subsidiary of Sykes Group Limited on 30 January 2024. Sykes Group Limited is not required to prepare consolidated financial statements. The registered office of Sykes Group Limited is Unit 2 Mintsfeet Road, Kendal, Cumbria, England, LA9 6LU.

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