Company registration number 04196001 (England and Wales)
SIYAN LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
SIYAN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
SIYAN LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,249,934
3,057,428
Current assets
Debtors
5
311,311
195,990
Cash at bank and in hand
86,456
42,541
397,767
238,531
Creditors: amounts falling due within one year
6
(1,197,659)
(797,799)
Net current liabilities
(799,892)
(559,268)
Total assets less current liabilities
2,450,042
2,498,160
Creditors: amounts falling due after more than one year
7
(574,937)
(636,173)
Provisions for liabilities
(347,822)
(293,944)
Net assets
1,527,283
1,568,043
Capital and reserves
Called up share capital
8
1
1
Capital redemption reserve
1
1
Profit and loss reserves
1,527,281
1,568,041
Total equity
1,527,283
1,568,043
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year 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.
SIYAN LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025
31 January 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 July 2025 and are signed on its behalf by:
M R Baruch
Director
Company registration number 04196001 (England and Wales)
SIYAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information
Siyan Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB.
1.1
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.The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable for the rendering of services in the normal course of business, and is shown net of discounts and VAT.
Rendering of services
Revenue arises from the provision of design and lighting services.
Revenue is recognised proportionally over the performance of the service contract, by reference to the stage of completion of the transaction at the end of the reporting period.
1.3
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:
Leasehold land and buildings
15% reducing balance
Plant and equipment
15% reducing balance
Fixtures and fittings
25% reducing balance
Motor vehicles
20% reducing balance
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.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
SIYAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of 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.
Basic financial assets
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.
Basic financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end 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.
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.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
SIYAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Depreciation and net book value of fixed assets
Determining the rate and method of depreciation for the tangible fixed assets is a key judgement as both the depreciation charge and net book value of the assets are material figures in the financial statements.
The appropriate depreciation rate and method is chosen by taking into account the useful economic life of the assets and the residual value upon disposal.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
37
35
SIYAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
4
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2024
4,944,944
183,968
96,360
5,225,272
Additions
63,609
637,605
3,089
704,303
Disposals
(6,925)
(6,925)
At 31 January 2025
63,609
5,575,624
187,057
96,360
5,922,650
Depreciation and impairment
At 1 February 2024
2,006,477
128,909
32,458
2,167,844
Depreciation charged in the year
5,951
475,306
14,225
12,780
508,262
Eliminated in respect of disposals
(3,390)
(3,390)
At 31 January 2025
5,951
2,478,393
143,134
45,238
2,672,716
Carrying amount
At 31 January 2025
57,658
3,097,231
43,923
51,122
3,249,934
At 31 January 2024
2,938,467
55,059
63,902
3,057,428
Included within the net book value is £1,259,308 (2024 - £893,292) relating to assets held under hire purchase contracts. The depreciation charged to the financial statements in the year in respect of such assets amounted to £158,024 (2024 - £136,791).
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
47,331
132,558
Amounts owed by group undertakings
2,340
Other debtors
112,224
Prepayments and accrued income
142,156
41,892
301,711
176,790
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
9,600
19,200
Total debtors
311,311
195,990
SIYAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
201,000
126,000
Obligations under finance leases
447,785
374,827
Trade creditors
121,066
198,225
Amounts owed to group undertakings
277,943
Taxation and social security
59,620
85,471
Other creditors
46,535
5,476
Accruals and deferred income
43,710
7,800
1,197,659
797,799
The aggregate amount of creditors for which security has been given amounted to £648,545 (2024 - £500,828).
The bank loan is secured by a fixed and floating charge over the assets and undertakings of the company. This security contains a negative pledge which means that the company will not create or agree to create or permit to subsist any security interest over the charged assets.
The obligations under finance leases are secured on the assets to which they relate.
7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
151,500
202,500
Obligations under finance leases
423,437
433,673
574,937
636,173
The aggregate amount of creditors for which security has been given amounted to £574,937 (2024 - £636,173).
The bank loan is secured by a fixed and floating charge over the assets and undertakings of the company. This security contains a negative pledge which means that the company will not create or agree to create or permit to subsist any security interest over the charged assets.
The obligations under finance leases are secured on the assets to which they relate.
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
100
100
1
1
SIYAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
Within one year
189,277
69,922
Between two and five years
922,428
In over five years
922,428
2,034,133
69,922
10
Related party transactions
The company has taken advantage of the exemption allowed under Section 33.1A of FRS 102 not to disclose transactions with other wholly owned members of the group.