| Yes Syzygy Limited |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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Turnover represents net income from licensing the rights to use its intellectual property, excluding value added tax. |
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Going Concern |
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The financial statements have been prepared on a going concern basis. The Directors have prepared forecasts for a period greater than one year from the date of signature of the financial statements and have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Intangible assets |
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Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. |
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Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably. |
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Amortisation |
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Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: |
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Patents |
- |
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10% straight line |
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Intellectual Property Rights |
- |
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20% straight line |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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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. |
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| 2 |
Profit before taxation |
2024 |
|
2023 |
| £ |
£ |
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Profit before taxation is stated after charging: |
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Amortisation of intangible assets |
14,458 |
|
15,316 |
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14,458 |
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15,316 |
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| 3 |
Employees |
2024 |
|
2023 |
| Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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| 4 |
Intangible fixed assets |
£ |
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Patents, Trademarks, Licences and Intellectual Property Rights : |
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Cost |
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At 1 January 2024 |
316,884 |
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Additions |
14,111 |
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At 31 December 2024 |
330,995 |
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Amortisation |
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At 1 January 2024 |
243,160 |
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Provided during the year |
14,458 |
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At 31 December 2024 |
257,618 |
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Net book value |
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At 31 December 2024 |
73,377 |
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At 31 December 2023 |
73,724 |
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During 2011 the directors valued the intellectual property rights of the company at £100,000. This valuation has been amortised over ten years, the expected useful life of the asset. The cost of Patents, Trademarks and Licences represents amounts spent to register the company's patents and trademarks in various territories around the world. |
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| 5 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
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Cost |
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At 1 January 2024 |
200,200 |
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At 31 December 2024 |
200,200 |
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The company owns 100% of the issued share capital of The Yes Yes Company Limited, a company incorporated in England and Wales under number 05371471, and Bio-Tech Lubricants Limited, a company incorporated in England and Wales under number 08857325. The directors believe that the value of these investments is not less than cost. |
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The company indirectly owns 100% of the share capital of Ah! YES Inc, a company incorporated in the state of Delaware, USA, and of Yes Yes Europe Sarl, a company incorporated in France. |
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| 6 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
83,929 |
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86,909 |
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| 7 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
| £ |
£ |
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Trade creditors |
6,803 |
|
- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
29,410 |
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54,426 |
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Other creditors |
1,850 |
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1,850 |
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38,063 |
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56,276 |
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| 8 |
Revaluation reserve |
2024 |
|
2023 |
| £ |
£ |
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At 1 January 2024 |
100,000 |
|
100,000 |
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At 31 December 2024 |
100,000 |
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100,000 |
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| 9 |
Controlling party |
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On 4 April 2025 Yes Syzygy Limited was acquired by Project Nazare Limited which is incorporated in England and Wales under number 16358171. |
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| 10 |
Share-based payments |
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Equity settled |
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At 31 December 2024, the following share options were outstanding in respect of exit based EMI and unapproved share option plans: |
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EMI Options |
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1,325,500 EMI share options were granted during 2016 at a Market Value of £0.01 per Share. During 2019 a further 384,000 EMI share options were granted at a Market Value of £0.01 per share and 399,000 remained outstanding at 31 December 2024 (2023: 474,000). All of these options have vested. |
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Unapproved Options |
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300,000 share options were granted during 2016 at a Market Value of £0.01 per share and all remain outstanding at 31 December 2024. |
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| 11 |
Other information |
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Yes Syzygy Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Meadow Barn, Norton Farm |
|
Selborne Road |
|
Alton |
|
Hampshire |
|
GU34 3NB |