REGISTERED NUMBER: 13907585 (England and Wales)

Financial Statements

for the Year Ended 31 July 2024

for

Syson Limited

Trading as

Home Instead Mansfield

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R C Stanton

Mrs S Stanton

REGISTERED OFFICE:

Suite 4b, Birch House

Ransom Wood Business Park Southwell Road

Rainworth

Mansfield

Nottinghamshire

NG21 0HJ

REGISTERED NUMBER:

13907585 (England and Wales)

ACCOUNTANTS:

SKS Bailey Group Limited

Suite 4, 10/12 The Grove,

Ilkley

West Yorkshire

LS29 9EG

Fixed assets

Intangible assets

3

39,360

44,280

Tangible assets

4

4,688

6,453

44,048

50,733

Current assets

Debtors

5

50,798

44,236

Cash at bank

7,475

8,027

58,273

52,263

Creditors

Amounts falling due within one year

6

(127,527

)

(78,604

)

Net current liabilities

(69,254

)

(26,341

)

Total assets less current liabilities

(25,206

)

24,392

Creditors

Amounts falling due after more than one year

7

(56,764

)

(108,500

)

Provisions for liabilities

9

(1,226

)

-

Net liabilities

(83,196

)

(84,108

)

Capital and reserves

Called up share capital

10

100

100

Retained earnings

11

(83,296

)

(84,208

)

Shareholders' funds

(83,196

)

(84,108

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2025 and were signed on its behalf by:

Mrs S Stanton - Director

R C Stanton - 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.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

TANGIBLE FIXED ASSETS

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GOING CONCERN

The accounts are prepared on the basis that the directors of the company have agreed they will not withdraw funds until the company has the available profits and cash flow and they continue to support the company for the foreseeable future.

At the balance sheet date, liabilities exceed assets by £83,296 (2023 : £84,208). However the financial statements have been prepared on a going concern basis as the company has the continuing support from its directors and majority shareholders.

The directors are therefore satisfied that the financial statements have been correctly prepared on the going concern basis. The directors' are confident that the accounts will return to profit in the year ended 31st July 2025.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 21 ) .

3.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 August 2023

and 31 July 2024

49,200

AMORTISATION

At 1 August 2023

4,920

Amortisation for year

4,920

At 31 July 2024

9,840

NET BOOK VALUE

At 31 July 2024

39,360

At 31 July 2023

44,280

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2023

and 31 July 2024

6,048

1,891

7,939

DEPRECIATION

At 1 August 2023

1,141

345

1,486

Charge for year

1,269

496

1,765

At 31 July 2024

2,410

841

3,251

NET BOOK VALUE

At 31 July 2024

3,638

1,050

4,688

At 31 July 2023

4,907

1,546

6,453

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,051

4,801

Other debtors

6,000

5,000

Rent deposits

-

1,015

Accrued income

43,747

33,420

50,798

44,236

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other loans (see note 8)

87,150

51,733

Trade creditors

1,234

1,869

Social security and other tax

8,824

3,245

Pensions

1,134

1,591

Other creditors

29,170

18,820

Directors' current accounts

1

377

Accrued expenses

14

969

127,527

78,604

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loan

56,764

108,500

8.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Other loans

53,188

51,733

Bank Loan

33,962

-

87,150

51,733

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

1,226

-

Deferred

tax

£

Charge to Income Statement during year

1,226

Balance at 31 July 2024

1,226

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary share

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 August 2023

(84,208

)

Profit for the year

912

At 31 July 2024

(83,296

)

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

No dividends were paid to the directors' through the period to 31st July 2024. The company owed the directors’ £1 as at 31st July 2024 (£377 as at 31st July 2023).

13.	RELATED PARTY DISCLOSURES

The company owed an amount of £53,188 to a related party as at 31st July 2024 (2023 - £51,733). The directors' own 100% of the issued share capital of the related party company.