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Registered number: 12278719
Sylvan Insights Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
BNC ACCOUNTANTS LTD
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 12278719
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,189 8,154
Tangible Assets 5 25,392 10,593
30,581 18,747
CURRENT ASSETS
Debtors 6 2,281,865 1,355,646
Cash at bank and in hand 1,520,635 1,266,584
3,802,500 2,622,230
Creditors: Amounts Falling Due Within One Year 7 (3,752,302 ) (2,506,728 )
NET CURRENT ASSETS (LIABILITIES) 50,198 115,502
TOTAL ASSETS LESS CURRENT LIABILITIES 80,779 134,249
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (4,824 ) (3,575 )
NET ASSETS 75,955 130,674
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 75,954 130,673
SHAREHOLDERS' FUNDS 75,955 130,674
For the year ending 31 October 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S J Paul
Director
19/07/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Sylvan Insights Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12278719 . The registered office is International House, 64 Nile Street, London, N1 7SR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements are prepared in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets comprise computer software. These assets are amortised to the profit and loss account on a straight-line basis over their estimated economic life of three years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Reducing balance
Computer Equipment 33% Straight line
2.6. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Taxation for the period comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
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2.9. 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.
2.10. Critical Accounting Judgements And Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the year end.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 1)
3 1
4. Intangible Assets
Computer software
£
Cost
As at 1 November 2023 8,895
As at 31 October 2024 8,895
Amortisation
As at 1 November 2023 741
Provided during the period 2,965
As at 31 October 2024 3,706
Net Book Value
As at 31 October 2024 5,189
As at 1 November 2023 8,154
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 November 2023 747 22,537 23,284
Additions - 22,664 22,664
As at 31 October 2024 747 45,201 45,948
Depreciation
As at 1 November 2023 511 12,180 12,691
Provided during the period 59 7,806 7,865
As at 31 October 2024 570 19,986 20,556
...CONTINUED
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Page 4
Net Book Value
As at 31 October 2024 177 25,215 25,392
As at 1 November 2023 236 10,357 10,593
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,078,262 1,182,985
Prepayments and accrued income 92,525 52,649
Other debtors 111,078 120,012
2,281,865 1,355,646
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,841,179 316,727
Corporation tax 556 42,233
VAT 454,469 -
Other creditors 75,460 8,966
Accruals and deferred income 1,380,091 2,138,802
Directors' loan accounts 547 -
3,752,302 2,506,728
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 4,824 3,575
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
The nominal value per share is £1 and as at the year end, there is 1 Ordinary share in issue.
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 65,000 -
11. Related Party Transactions
Director's loan account balances totalling £49,928 were included within Other Debtors due within one year. These amounts were fully repaid within nine months of the year end.
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