Registered number
03724716
Syms Automotive Designs Limited
Report and Unaudited Accounts
31 March 2025
TRUEMAN BROWN
CHARTERED ACCOUNTANTS
7 FOXGLOVE ROAD
SOUTH OCKENDON
ESSEX. RM15 6EU
Syms Automotive Designs Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Chartered Accountants' report 3
Profit and loss account 4
Balance sheet 5
Statement of changes in equity 6
Notes to the accounts 7
Syms Automotive Designs Limited
Company Information
Directors
Mr A Syms
Secretary
Mrs A Syms
Accountants
Trueman Brown
7 Foxglove Road
South Ockendon
Essex
RM15 6EU
Bankers
National Westminster Bank Plc
Sunderland City Branch
52 Fawcett Street
Sunderland
Tyne & Wear
SR1 1SB
Registered office
4 Nottingham Way
Langdon Hills
Basildon
Essex
SS16 6TR
Registered number
03724716
Syms Automotive Designs Limited
Registered number: 03724716
Directors' Report
The directors present their report and accounts for the year ended 31 March 2025.
Principal activities
The company's principal activity during the year continued to be the provision of consulting services to the automotive industry.
Directors
The following persons served as directors during the year:
Mr A Syms
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 17 June 2025 and signed by its order.
Mrs A Syms
Secretary
Syms Automotive Designs Limited
Profit and Loss Account
for the year ended 31 March 2025
2025 2024
£ £
Turnover 73,717 75,438
Administrative expenses (23,763) (21,778)
Operating profit 49,954 53,660
Profit on ordinary activities before taxation 49,954 53,660
Tax on profit on ordinary activities (9,429) (10,712)
Profit for the financial year 40,525 42,948
Syms Automotive Designs Limited
Registered number: 03724716
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 - 179
Current assets
Debtors 4 5,841 5,677
Cash at bank and in hand 8,096 9,343
13,937 15,020
Creditors: amounts falling due within one year 5 (10,412) (11,893)
Net current assets 3,525 3,127
Total assets less current liabilities 3,525 3,306
Provisions for liabilities - (106)
Net assets 3,525 3,200
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,425 3,100
Shareholders' funds 3,525 3,200
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 A Syms
Director
Approved by the board on 17 June 2025
Syms Automotive Designs Limited
Statement of Changes in Equity
for the year ended 31 March 2025
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 April 2023 100 - - 3,152 3,252
Profit for the financial year 42,948 42,948
Dividends (43,000) (43,000)
At 31 March 2024 100 - - 3,100 3,200
At 1 April 2024 100 - - 3,100 3,200
Profit for the financial year 40,525 40,525
Dividends (40,200) (40,200)
At 31 March 2025 100 - - 3,425 3,525
Syms Automotive Designs Limited
Notes to the Accounts
for the year ended 31 March 2025
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.
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:
Fixtures, fittings, tools and equipment 20% on written down value
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.
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.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 6,259
At 31 March 2025 6,259
Depreciation
At 1 April 2024 6,080
Charge for the year 179
At 31 March 2025 6,259
Net book value
At 31 March 2025 -
At 31 March 2024 179
4 Debtors 2025 2024
£ £
Trade debtors 5,410 5,342
Other debtors 431 335
5,841 5,677
5 Creditors: amounts falling due within one year 2025 2024
£ £
Corporation tax 9,535 10,520
Other taxes and social security costs - 83
Other creditors 877 1,290
10,412 11,893
6 Controlling party
The company was under the control of A Syms throughout the current and previous year period. A Syms is the managing director and majority shareholder.
7 Other information
Syms Automotive Designs Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Nottingham Way
Langdon Hills
Basildon
Essex
SS16 6TR
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