SYKE HOUSE INVESTMENTS LIMITED


Directors	WHITAKER, Gemma Louise
	WHITAKER, William Reginald


Registered Address	Number 3 Acorn Business Park
	Keighley Road
	Skipton
	BD23 2UE


Registered Number	14509788 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Investment property	3		4,671,000		4,600,000
			4,671,000		4,600,000
Current assets
Stocks	4	220,000		-
Debtors	5	75,465		112,506
Cash at bank and on hand		49,893		-
		345,358		112,506
Creditors amounts falling due within one year	6	(121,885)		(110,988)
Net current assets (liabilities)			223,473		1,518
Total assets less current liabilities			4,894,473		4,601,518
Creditors amounts falling due after one year	7		(354,081)		-
Provisions for liabilities	9		(75,000)		(75,000)
Net assets			4,465,392		4,526,518
Capital and reserves
Called up share capital			4,300,000		4,300,000
Revaluation reserve			225,000		225,000
Profit and loss account			(59,608)		1,518
Shareholders' funds			4,465,392		4,526,518

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 31 March 2025, and are signed on its behalf by:

WHITAKER, William Reginald
Director
Registered Company No. 14509788

SYKE HOUSE INVESTMENTS LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	These financial statements have been prepared on the going concern basis.

	Turnover policy
	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/or the rendering of services. 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.

Turnover policy

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/or the rendering of services.

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.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	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.

Deferred tax

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.

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Trade and other 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.

	Trade and other 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.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Investment property
	The 2024 valuation was made by the directors, on an open market value for existing use basis.


		£
	Fair value at 01 January 24	4,600,000
	Additions	71,000
	At 31 December 24	4,671,000

4.	Stocks

	2024	2023
	£	£
Other stocks	220,000	-
Total	220,000	-

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	73,846	-
Other debtors	457	107,531
Prepayments and accrued income	1,162	4,975
Total	75,465	112,506

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	461	107,531
Bank borrowings and overdrafts	34,614	-
Taxation and social security	14,613	457
Accrued liabilities and deferred income	72,197	3,000
Total	121,885	110,988


	The bank borrowings included within creditors due within one year are secured by fixed and floating charges over the assets to which they relate.

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	354,081	-
Total	354,081	-


	The bank borrowings included within creditors due after one year are secured by fixed and floating charges over the assets to which they relate.

8.	Creditors: amounts due after 5 years
	Bank loans outstanding at the year-end include instalments due after more than five years of £205,715 (2023: £0).

9.	Provisions for liabilities
	Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position. The provision for deferred taxation is made up as follows: Deferred tax on revaluation surplus £75,000

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

The provision for deferred taxation is made up as follows:
Deferred tax on revaluation surplus £75,000

	2024	2023
	£	£
Net deferred tax liability (asset)	75,000	75,000
Total	75,000	75,000