REGISTERED NUMBER: 07651611 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MAY 2024

FOR

SYLO CREATIVE DESIGN LTD

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

-

1,129

CURRENT ASSETS

Debtors

6

45,703

45,267

Cash at bank

1

1

45,704

45,268

CREDITORS

Amounts falling due within one year

7

52,050

42,902

NET CURRENT (LIABILITIES)/ASSETS

(6,346

)

2,366

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,346

)

3,495

CREDITORS

Amounts falling due after more than one year

8

-

(3,209

)

PROVISIONS FOR LIABILITIES

9

-

(215

)

NET (LIABILITIES)/ASSETS

(6,346

)

71

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

(6,347

)

70

SHAREHOLDERS' FUNDS

(6,346

)

71

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

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

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 October 2025 and were signed by:

Mr D Appiah - Director

1.	STATUTORY INFORMATION

Sylo Creative Design Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

07651611

Registered office:

48 St Leonards Road

Bexhill on Sea

East Sussex

TN40 1JB

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company ceased trading on 31 May 2025 and so the accounts have been prepared on the basis that the company is no longer a going concern.

Turnover

Turnover represents the invoiced value of goods and services supplied by the company in the year.

Tangible fixed assets

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

Computer equipment

-

25% on cost

All fixed assets are initially recorded at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Computer

equipmen

£

COST

At 1 June 2023

and 31 May 2024

4,517

DEPRECIATION

At 1 June 2023

3,388

Charge for year

1,129

At 31 May 2024

4,517

NET BOOK VALUE

At 31 May 2024

-

At 31 May 2023

1,129

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

1,500

Director's current account

34,321

31,976

S455 tax recoverable

11,382

10,591

Prepayments and accrued income

-

1,200

45,703

45,267

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

7,980

4,908

Trade creditors

2,617

-

Corporation tax

26,161

21,822

S455 tax payable

9,954

9,895

Other creditors

812

1,092

Accruals and deferred income

4,526

5,185

52,050

42,902

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

-

963

Bank loans - 2-5 years

-

2,246

-

3,209

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

-

215

Deferred

tax

£

Balance at 1 June 2023

215

Provided during year

(215

)

Balance at 31 May 2024

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

£1

1

1

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Amounts due from the director at the balance sheet date total £34,321 (2023: £31,976). Amounts due are unsecured and repayable on demand. Interest has been charged using HM Revenue and Customs' beneficial loan rate.