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# SYHA ENTERPRISES LIMITED

## Company Registration Number:
06350868 (England and Wales)

## Unaudited abridged accounts for the year ended 31 March 2025

## Period of accounts

## Start date: 01 April 2024

## End date: 31 March 2025

# SYHA ENTERPRISES LIMITED

## Contents of the Financial Statements

for the Period Ended 31 March 2025

Balance sheet |
Notes |

# SYHA ENTERPRISES LIMITED

## Balance sheet

As at 31 March 2025

| Notes | 2025 | 2024
--- | --- | --- | ---
|  | £ | £
Fixed assets
Intangible assets: | 3 | 0 | 17,887
Tangible assets: | 4 | 1,351 | 2,317
Investments: | 5 | 2,380,000 | 2,380,000
Total fixed assets: |  | 2,381,351 | 2,400,204
Current assets
Debtors: | 6 | 128,475 | 131,534
Cash at bank and in hand: |  | 126,333 | 227,498
Total current assets: |  | 254,808 | 359,032
Creditors: amounts falling due within one year: | 7 | (44,581) | (40,674)
Net current assets (liabilities): |  | 210,227 | 318,358
Total assets less current liabilities: |  | 2,591,578 | 2,718,562
Creditors: amounts falling due after more than one year: | 8 | (2,925,191) | (3,025,191)
Total net assets (liabilities): |  | (333,613) | (306,629)
Capital and reserves
Called up share capital: |  | 1 | 1
Profit and loss account: |  | (333,614) | (306,630)
Shareholders funds: |  | (333,613) | (306,629)

The notes form part of these financial statements

# SYHA ENTERPRISES LIMITED

## Balance sheet statements

For the year ending 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 July 2025
and signed on behalf of the board by:

Name: William Pritchard
Status: Director

The notes form part of these financial statements

# SYHA ENTERPRISES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

## Turnover policy

Turnover represents charges to third parties for services provided and management charges received as a result of sales of properties on behalf of the parent entity together with the sale of property and grant income. Turnover excludes VAT.

## Tangible fixed assets and depreciation policy

Depreciation is calculated to write off the cost of property, plant and equipment on a straight-line basis over their estimated useful lives as follows: Office equipment – 4 years Motor vehicles – 4 Years Property, plant and equipment are depreciated from the month of purchase

## Intangible fixed assets and amortisation policy

Depreciation is calculated to write off the cost of property, plant and equipment on a straight-line basis over their estimated useful lives as follows: Office equipment – 4 years Motor vehicles – 4 Years Property, plant and equipment are depreciated from the month of purchase

## Other accounting policies

Goodwill Purchased Goodwill represents the difference between the aggregate of the fair values of the identifiable assets and liabilities acquired and the fair value of the consideration given. This relates to the acquisition of the trade and assets of Rotherlets (the Business), a business owned by Action Recruitment Europe Limited (AREL) and the trade of The Property Lettings Shop (TPLS). The Goodwill is capitalised and amortised in the year following acquisition through the statement of comprehensive income on a straight-line basis over its estimated useful economic life of 10 years. Going Concern The directors are satisfied that the Company has adequate resources to continue to operate for the foreseeable future. The Company has net liabilities but has business plan forecasts which show positive cash surpluses and has ongoing intercompany support from its parent Company. The Company has undertaken a strategic review of its operations and sold one part of the business; Co-Create; it will look to further implement the results of the review during the coming year. For this reason, they continue to adopt the going concern basis for preparing these financial statements.

# SYHA ENTERPRISES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 2. Employees

| 2025 | 2024
--- | --- | ---
Average number of employees during the period | 13 | 15

# SYHA ENTERPRISES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 3. Intangible Assets

| Total
--- | ---
Cost | £
At 01 April 2024 | 866,102
At 31 March 2025 | 866,102
Amortisation |
At 01 April 2024 | 848,215
Charge for year | 17,887
At 31 March 2025 | 866,102
Net book value |
At 31 March 2025 | 0
At 31 March 2024 | 17,887

Goodwill is for the acquisition of lettings agencies

# SYHA ENTERPRISES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 4. Tangible Assets

| Total
--- | ---
Cost | £
At 01 April 2024 | 23,418
At 31 March 2025 | 23,418
Depreciation |
At 01 April 2024 | 21,101
Charge for year | 966
At 31 March 2025 | 22,067
Net book value |
At 31 March 2025 | 1,351
At 31 March 2024 | 2,317

# SYHA ENTERPRISES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 5. Fixed investments

The company is part of a joint venture with four housing associations. The partnership aims to build up to 500 new homes - both private sale and social rented - each year within the Sheffield City Region. The company is a for-profit business, and profits made will be returned to SYHAE and four other investors who are social landlords. The profit due to SYHAE from the joint venture are re-invested by SYHA, a social landlord. All profits from Forge New Homes are therefore re-invested in affordable housing and communities.

# SYHA ENTERPRISES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 6. Debtors

| 2025 | 2024
--- | --- | ---
| £ | £
Debtors due after more than one year: | 128,475 | 131,534

# SYHA ENTERPRISES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 7. Creditors: amounts falling due within one year note

Trade creditors 18,303 Other taxation and social security costs 15,265 Other creditors 6,245 Accruals and deferred income 4,768

# SYHA ENTERPRISES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 8. Creditors: amounts falling due after more than one year note

SYHA have made available up to £5 million in perpetuity, with a specific annual review of the investment (last undertaken July 2024). No interest is payable on the balance.

# SYHA ENTERPRISES LIMITED

## Notes to the Financial Statements

for the Period Ended 31 March 2025

## 9. Related party transactions

The company has taken advantage of the exemption available not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.