REGISTERED NUMBER: 01986871 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SYSLINK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R A E Garrod-Mason

E D Watson

REGISTERED OFFICE:

Jubilee House

2 Church Road

Saxilby

Lincoln

LN1 2HJ

REGISTERED NUMBER:

01986871 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe (Lincoln) Ltd

Landmark House

1 Riseholme Road

Lincoln

Lincolnshire

LN1 3SN

FIXED ASSETS

Tangible assets

3

1,384

1,428

Investment property

4

450,000

440,000

451,384

441,428

CURRENT ASSETS

Debtors

5

186

669

Cash at bank

17,566

28,715

17,752

29,384

CREDITORS

Amounts falling due within one year

6

23,277

16,357

NET CURRENT (LIABILITIES)/ASSETS

(5,525

)

13,027

TOTAL ASSETS LESS CURRENT LIABILITIES

445,859

454,455

PROVISIONS FOR LIABILITIES

263

271

NET ASSETS

445,596

454,184

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Revaluation reserve

7

266,854

256,854

Retained earnings

7

176,742

195,330

445,596

454,184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

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

E D Watson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on cost

Investment property

Investment property is shown at the most recent valuation.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

1,834

13,583

4,597

641

20,655

Additions

-

489

-

-

489

Disposals

(342

)

(10,328

)

(4,597

)

-

(15,267

)

At 31 December 2024

1,492

3,744

-

641

5,877

DEPRECIATION

At 1 January 2024

1,401

12,826

4,596

404

19,227

Charge for year

40

159

-

64

263

Eliminated on disposal

(103

)

(10,298

)

(4,596

)

-

(14,997

)

At 31 December 2024

1,338

2,687

-

468

4,493

NET BOOK VALUE

At 31 December 2024

154

1,057

-

173

1,384

At 31 December 2023

433

757

1

237

1,428

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

440,000

Revaluations

10,000

At 31 December 2024

450,000

NET BOOK VALUE

At 31 December 2024

450,000

At 31 December 2023

440,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

450,000

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

183,147

183,147

The investment property was valued on an open market basis on 31 December 2024 by local estate agents .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

186

669

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

5

-

Other creditors

23,272

16,357

23,277

16,357

7.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 January 2024

195,330

256,854

452,184

Profit for the year

1,412

1,412

Dividends

(20,000

)

(20,000

)

Freehold property

-

10,000

10,000

At 31 December 2024

176,742

266,854

443,596