| |
|
2024 |
|
2023 |
| |
|
£ |
£ |
|
£ |
£ |
| Fixed assets |
|
|
776,081 |
|
|
773,581 |
| Current assets |
|
58,155 |
|
|
945 |
|
| Creditors: amount falling due within one year |
|
(55,287) |
|
|
(55,084) |
|
|
Net current assets
|
|
|
2,868
|
|
|
(54,139)
|
|
Total assets less current liabilities
|
|
|
778,949 |
|
|
719,442 |
| Creditors: amount falling due after more than one year |
|
|
(574,005) |
|
|
(555,352) |
|
Net assets
|
|
|
204,944 |
|
|
164,090 |
| |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
204,944 |
|
|
164,090 |
| |
NOTES TO THE ACCOUNTS
General Information
SKLaycock Ltd is a private company, limited by shares, registered in England and Wales, registration number 13884289, registration address Home Farm, Cheddar Road, Clewer, Wedmore, BS28 4JE.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
|
| 2. |
Financial Commitments, Guarantees and Contingencies
During the prior year the company utilised a loan facility with Barclays Bank UK Plc to purchase shares of Abbas Marquees Ltd on 1 April 2022.
The loan advance amounting to £305,800 carries both a cross guarantee and debenture between SKLaycock Ltd and Abbas Marquees Ltd, and a personal guarantee provided by S & K Laycock.
Bank loan balance as at 2024: £160,705 (2023 : £218,698)
SKLaycock Ltd is the main shareholder of Abbas Marquees Ltd, owning 100%.
|
| 3. |
Average number of employees
Average number of employees during the year was 2 (2023 : 2).
|
| 4. |
Related parties
During the year the company entered into the following transactions with related parties: | Amount due from/to related party | | Provision for doubtful debt from the related party |
|---|
| 2024 £ | | 2023 £ | | 2024 £ | | 2023 £ |
|---|
| Abbas Marquees Ltd | 58,050 | | - | | - | | - |
The company owned 100% of Abbas Marquees Ltd share capital at the year end. Directors, S Laycock and K Laycock wholly own SKLaycock Ltd and are also directors of Abbas Marquees Ltd.
|
|
Directors' Loan Account
At the year end, the company owed the Directors £468,300 (2023: £398,800) via a Directors' Loan Account. No interest is charged on any amounts advanced and no repayment terms are in place.
There are no further related party transactions required to report under FRS105.
|
For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' Responsibilities: The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
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.
These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 08 July 2025 and were signed on its behalf by: -------------------------------- S Laycock Director |
1
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