Sylvanaire Limited - Accounts to registrar (filleted) - small 18.2
Sylvanaire Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| SYLVANAIRE LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 |
| SYLVANAIRE LIMITED (REGISTERED NUMBER: 01331332) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| SYLVANAIRE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Exchange |
| 5 Bank Street |
| Bury |
| BL9 0DN |
| BANKERS: |
| 21 The Grand Arcade |
| Wigan |
| Lancashire |
| WN1 1BH |
| SYLVANAIRE LIMITED (REGISTERED NUMBER: 01331332) |
| STATEMENT OF FINANCIAL POSITION |
| 30 JUNE 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Other reserves |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| SYLVANAIRE LIMITED (REGISTERED NUMBER: 01331332) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 JUNE 2021 |
| 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 |
| SYLVANAIRE LIMITED (REGISTERED NUMBER: 01331332) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| 1. | STATUTORY INFORMATION |
| Sylvanaire Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01331332 and the registered office address is The Exchange, 5 Bank Street, Bury, Lancashire, BL9 0DN.. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors have considered the impact of the global Covid-19 pandemic on the company and recognise that the future cannot be predicted with certainty. |
| The company has substantial cash reserves and is not dependent on any form of financial support. Post year end, rental receipts continue to exceed overhead costs. |
| For the reasons noted above, the directors are satisfied that the company is a going concern and that the accounts are correctly prepared on this basis. |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates. |
| The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised. |
| The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below:- |
| i) Determining the fair value of investment properties as at the year end date. |
| Revenue |
| Revenue comprises the aggregate of the fair value of the rental services provided. Revenue is recognised as those services are provided to the occupants of the property. |
| Property, plant and equipment |
| Office building | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Investment properties |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| SYLVANAIRE LIMITED (REGISTERED NUMBER: 01331332) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
| Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| SYLVANAIRE LIMITED (REGISTERED NUMBER: 01331332) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| Office | and | Computer |
| building | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 July 2020 |
| Additions |
| At 30 June 2021 |
| DEPRECIATION |
| At 1 July 2020 |
| Charge for year |
| At 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 |
| At 30 June 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2020 |
| and 30 June 2021 |
| NET BOOK VALUE |
| At 30 June 2021 |
| At 30 June 2020 |
| Fair value at 30 June 2021 is represented by: |
| £ |
| Valuation in 2021 | 604,926 |
| Cost | 616,232 |
| 1,221,158 |
| If properties had not been revalued they would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 616,232 | 616,232 |
| Investment properties have been valued by the directors at an open market value as at the year end date. |
| SYLVANAIRE LIMITED (REGISTERED NUMBER: 01331332) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | SUBSEQUENT EVENTS |
| Subsequent to the year end date, interim dividends totalling £42,000 have been voted and paid. |