Registration number: 14285963

Sykes Joinery Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Sykes Joinery Limited

Company Information

Directors

Mr Michael Flint-Bush Mr Guy Simon Bostock Mr Richard James Wilson

Registered office

c/o Concorde BGW Limited Palmer Street Hyde Park Doncaster South Yorkshire DN4 5DD

Accountants

Atkinson Evans Limited Chartered Certified AccountantsThe Old Drill Hall 10 Arnot Hill Road Arnold Nottingham Nottinghamshire NG5 6LJ

Sykes Joinery Limited

(Registration number: 14285963)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	74,769	47,041
Current assets
Debtors	5	90,500	160,353
Cash at bank and in hand		199,828	81,622
		290,328	241,975
Creditors: Amounts falling due within one year	6	(74,084)	(103,996)
Net current assets		216,244	137,979
Total assets less current liabilities		291,013	185,020
Creditors: Amounts falling due after more than one year	6	(13,078)	(18,495)
Provisions for liabilities		(14,904)	(6,050)
Net assets		263,031	160,475
Capital and reserves
Called up share capital	7	3	3
Retained earnings		263,028	160,472
Shareholders' funds		263,031	160,475

For the financial year ending 31 December 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; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 September 2025 and signed on its behalf by:
 

Sykes Joinery Limited

(Registration number: 14285963)
Balance Sheet as at 31 December 2024

......................................... Mr Richard James Wilson Director

Sykes Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o Concorde BGW Limited
Palmer Street
Hyde Park
Doncaster
South Yorkshire
DN4 5DD

These financial statements were authorised for issue by the Board on 19 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Sykes Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and Machinery	15% Reducing Balance
Computer and Office Equipment	5 Years Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Sykes Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Sykes Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 3).

4	Tangible assets

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 January 2024	53,133	2,108	55,241
Additions	37,812	1,487	39,299
Disposals	(5,000)	-	(5,000)
At 31 December 2024	85,945	3,595	89,540
Depreciation
At 1 January 2024	7,845	355	8,200
Charge for the year	7,103	558	7,661
Eliminated on disposal	(1,090)	-	(1,090)
At 31 December 2024	13,858	913	14,771
Carrying amount
At 31 December 2024	72,087	2,682	74,769
At 31 December 2023	45,288	1,753	47,041

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

Sykes Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Debtors

Current	2024 £	2023 £
Trade debtors	61,170	142,079
Prepayments	7,249	5,148
Other debtors	22,081	13,126
	90,500	160,353

Sykes Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	5,000	5,000
Trade creditors		21,808	19,401
Taxation and social security		36,246	71,781
Accruals and deferred income		10,364	7,388
Other creditors		666	426
		74,084	103,996

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	13,078	18,495

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary £1 of £1 each	3	3	3	3

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Finance lease liabilities	13,078	18,495

Current loans and borrowings

	2024 £	2023 £
Finance lease liabilities	5,000	5,000

Sykes Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9	Related party transactions

Summary of transactions with other related parties

Company under common control The company sold goods to Concorde BGW Limited

Income and receivables from related parties

2024	Other related parties £
Sale of goods	671,362
Amounts receivable from related party	48,229

2023	Other related parties £
Sale of goods	567,853
Amounts receivable from related party	142,402