Registered number
04166085
Sytecross Limited
Filleted Accounts
31 December 2024
Sytecross Limited
Registered number: 04166085
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,082,527 5,070,243
Current assets
Stocks 854,569 828,727
Debtors 4 11,989 11,795
Cash at bank and in hand 534,098 506,169
1,400,656 1,346,691
Creditors: amounts falling due within one year 5 (158,349) (124,045)
Net current assets 1,242,307 1,222,646
Total assets less current liabilities 6,324,834 6,292,889
Creditors: amounts falling due after more than one year 6 (1,224,902) (1,340,502)
Provisions for liabilities (116,216) (133,699)
Net assets 4,983,716 4,818,688
Capital and reserves
Called up share capital 100,000 100,000
Revaluation reserve 7 464,864 534,794
Profit and loss account 4,418,852 4,183,894
Shareholders' funds 4,983,716 4,818,688
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.
S K Gupta
Director
Approved by the board on 4 September 2025
Sytecross Limited
Notes to the Accounts
for the year ended 31 December 2024
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.
Investment Properties
The investment properties are shown at their fair value as estimated by the directors. Any movements in fair value are recognised in arriving at the profit before tax. Deferred tax is provided on these movements.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2024 5,070,243
Additions 82,214
Surplus on revaluation (69,930)
At 31 December 2024 5,082,527
Depreciation
At 31 December 2024 -
Net book value
At 31 December 2024 5,082,527
At 31 December 2023 5,070,243
Freehold land and buildings: 2024 2023
£ £
Historical cost 4,535,448 4,535,448
Cumulative depreciation based on historical cost - -
4,535,448 4,535,448
4 Debtors 2024 2023
£ £
Trade debtors 6,470 10,279
Other debtors 5,519 1,516
11,989 11,795
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,420 752
Taxation and social security costs 72,825 33,486
Other creditors 83,104 89,807
158,349 124,045
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 1,224,902 1,340,502
7 Revaluation reserve 2024 2023
£ £
At 1 January 2024 534,794 784,035
Loss on revaluation of land and buildings (69,930) (249,241)
At 31 December 2024 464,864 534,794
8 Other information
Sytecross Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Wakerfield Close
Hornchurch
Essex
RM11 2TH
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