SYKE HOUSE INVESTMENTS LIMITED


Directors	WHITAKER, Gemma Louise
	WHITAKER, William Reginald


Registered Address	Number 3 Acorn Business Park
	Keighley Road
	Skipton
	BD23 2UE


Registered Number	14509788 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2025

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.

	Going concern
	These financial statements have been prepared on the going concern basis.

	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.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term. The Company has elected to early adopt the changes to FRS 102 issued in 2024, which are otherwise effective for accounting periods beginning on or after 1 January 2026. These amendments introduce significant changes in accounting for revenue and leases. The Company has considered the transitional provisions and applied the relevant requirements of the standard accordingly. The key changes for the Company arising from the amendments relate to the recognition, measurement, presentation and disclosure of lease arrangements. The impact of these changes is discussed within the relevant accounting policies.

Operating leases

Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.

Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

The Company has elected to early adopt the changes to FRS 102 issued in 2024, which are otherwise effective for accounting periods beginning on or after 1 January 2026. These amendments introduce significant changes in accounting for revenue and leases. 
 
The Company has considered the transitional provisions and applied the relevant requirements of the standard accordingly. The key changes for the Company arising from the amendments relate to the recognition, measurement, presentation and disclosure of lease arrangements. The impact of these changes is discussed within the relevant accounting policies.

	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.

	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 Income Statement. 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 Income Statement.

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Vehicles	4

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	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.

	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 complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

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 complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	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.

	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.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	3		2

3.	Tangible fixed assets

	Vehicles	Total
	£	£
Cost or valuation
Additions	29,122	29,122
At 31 December 25	29,122	29,122
Depreciation and impairment
Charge for year	1,813	1,813
At 31 December 25	1,813	1,813
Net book value
At 31 December 25	27,309	27,309
At 31 December 24	-	-

4.	Investment property
	The 2025 valuation was made by the directors, on an open market value for existing use basis.


		£
	Fair value at 01 January 25	4,671,000
	At 31 December 25	4,671,000

5.	Stocks

	2025	2024
	£	£
Other stocks	-	220,000
Total	-	220,000

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	10,948	73,846
Other debtors	16,208	457
Prepayments and accrued income	3,649	1,162
Total	30,805	75,465

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	780	461
Bank borrowings and overdrafts	-	34,614
Taxation and social security	13,483	14,613
Finance lease and HP contracts	28,119	-
Other creditors	387,628	-
Accrued liabilities and deferred income	72,745	72,197
Total	502,755	121,885


	The bank borrowings included within creditors due within one year are secured by fixed and floating charges over the assets to which they relate.

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	-	354,081
Total	-	354,081


	The bank borrowings included within creditors due after one year are secured by fixed and floating charges over the assets to which they relate.

9.	Creditors: amounts due after 5 years
	Bank loans outstanding at the year-end include instalments due after more than five years of £Nil (2024: £205,715).

10.	Provisions for liabilities
	Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position. The provision for deferred taxation is made up as follows: Deferred tax on revaluation surplus £75,000 Deferred tax charge in the year £3,500

10.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

The provision for deferred taxation is made up as follows:
Deferred tax on revaluation surplus £75,000
Deferred tax charge in the year £3,500

	2025	2024
	£	£
Net deferred tax liability (asset)	78,500	75,000
Total	78,500	75,000

11.	Related party transactions
	Included in other debtors, due within one year, is an amount of £10,000 (2024 - £Nil) due from a director. This balance is interest free and repayable on demand.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		27,309		-
Investment property	4		4,671,000		4,671,000
			4,698,309		4,671,000
Current assets
Stocks	5	-		220,000
Debtors	6	30,805		75,465
Cash at bank and on hand		371,299		49,893
		402,104		345,358
Creditors amounts falling due within one year	7	(502,755)		(121,885)
Net current assets (liabilities)			(100,651)		223,473
Total assets less current liabilities			4,597,658		4,894,473
Creditors amounts falling due after one year	8		-		(354,081)
Provisions for liabilities	10		(78,500)		(75,000)
Net assets			4,519,158		4,465,392
Capital and reserves
Called up share capital			4,300,000		4,300,000
Revaluation reserve			225,000		225,000
Profit and loss account			(5,842)		(59,608)
Shareholders' funds			4,519,158		4,465,392