The Sykeside Partnership Limited


Directors	METCALFE, Alan Geoffrey
	METCALFE, Ian David Geoffrey
	METCALFE, Lucy Suzanne


Company Secretary	METCALFE, Marie Elizabeth


Registered Address	Sykeside Camping Park
	Brotherswater
	Patterdale
	CA11 0NZ


Registered Number	04260512 (England and Wales)

Notes to the Financial Statements
for the year ended 28 February 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	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.

Deferred tax

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.

	Intangible assets
	Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets’; residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets’; residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income.

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Land and buildings	250
	Plant and machinery	5
	Fixtures and fittings	5
	Office Equipment	5

	Finance leases and hire purchase contracts
	Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. 

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.

	Trade and other debtors
	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.

Trade and other debtors

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.

	Trade and other creditors
	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.

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	10		10

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 March 25	60,400	60,400
At 28 February 26	60,400	60,400
Amortisation and impairment
At 01 March 25	60,400	60,400
At 28 February 26	60,400	60,400
Net book value
At 28 February 26	-	-
At 28 February 25	-	-

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 March 25	1,562,367	361,832	215,766	13,594	2,153,559
Additions	-	173,560	-	-	173,560
Disposals	-	(62,365)	-	-	(62,365)
At 28 February 26	1,562,367	473,027	215,766	13,594	2,264,754
Depreciation and impairment
At 01 March 25	65,217	249,639	204,461	12,400	531,717
Charge for year	2,701	25,567	2,249	896	31,413
On disposals	-	(12,399)	-	-	(12,399)
At 28 February 26	67,918	262,807	206,710	13,296	550,731
Net book value
At 28 February 26	1,494,449	210,220	9,056	298	1,714,023
At 28 February 25	1,497,150	112,193	11,305	1,194	1,621,842

5.	Stocks

	2026	2025
	£	£
Finished goods	17,465	18,342
Total	17,465	18,342

6.	Debtors: amounts due within one year

	2026	2025
	£	£
Amounts owed by group undertakings	633,870	675,019
Prepayments and accrued income	7,236	6,716
Total	641,106	681,735

7.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	21,134	25,416
Bank borrowings and overdrafts	30,137	30,137
Taxation and social security	11,775	16,831
Finance lease and HP contracts	2,791	27,938
Other creditors	695	142
Accrued liabilities and deferred income	21,666	21,666
Total	88,198	122,130


	Bank borrowings and overdrafts are secured by a fixed and floating charge over the company’s assets. Finance lease and HP contracts are secured on the assets concerned.

8.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	1,636,365	1,666,502
Other creditors	56,740	-
Total	1,693,105	1,666,502


	Bank borrowings and overdrafts are secured by a fixed and floating charge over the company’s assets. Finance lease and HP contracts are secured on the assets concerned. Bank borrowings are repayable after more than five years amount to £1,515,816 (2025 - £1,545,953).

9.	Obligations under finance leases

		2026		2025
		£		£
	Finance lease and HP contracts	59,532		27,938

10.	Related party transactions
	Sykeside Holdings Limited, the parent company, has given security against the bank loan held by this company. Included in debtors is an amount of £633,870 owed from Sykeside Holdings Limited (2025: £675,019).

11.	Parent-subsidiary relationships
	As part of a small group, this company is exempt from producing group accounts. These accounts are for this company alone. This company's parent undertaking is Sykeside Holding Limited, a company registered in England and Wales under the company number 06458736.

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	4		1,714,023		1,621,842
			1,714,023		1,621,842
Current assets
Stocks	5	17,465		18,342
Debtors	6	641,106		681,735
Cash at bank and on hand		163,162		194,164
		821,733		894,241
Creditors amounts falling due within one year	7	(88,198)		(122,130)
Net current assets (liabilities)			733,535		772,111
Total assets less current liabilities			2,447,558		2,393,953
Creditors amounts falling due after one year	8		(1,693,105)		(1,666,502)
Net assets			754,453		727,451
Capital and reserves
Called up share capital			62,500		62,500
Share premium			187,494		187,494
Profit and loss account			504,459		477,457
Shareholders' funds			754,453		727,451