Sykes Ihlenfeldt Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05507917 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

SYKES IHLENFELDT LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

C T Ihlenfeldt

M R Sykes

SECRETARY:

C T Ihlenfeldt

REGISTERED OFFICE:

7 Tower Hill

Chipperfield

Kings Langley

Hertfordshire

WD4 9LJ

REGISTERED NUMBER:

05507917 (England and Wales)

ACCOUNTANTS:

The LK Partnership LLP

Rowan House

Hill End Lane

St Albans

Hertfordshire

AL4 0RA

BANKERS:

National Westminster Bank Plc

72/74 High Street

Watford

Hertfordshire

WD17 2GZ

FIXED ASSETS

Intangible assets

4

12,375

15,375

Tangible assets

5

-

-

12,375

15,375

CURRENT ASSETS

Debtors

6

199,915

193,895

Cash at bank

1,908

18,648

201,823

212,543

CREDITORS

Amounts falling due within one year

7

129,866

128,717

NET CURRENT ASSETS

71,957

83,826

TOTAL ASSETS LESS CURRENT LIABILITIES

84,332

99,201

CREDITORS

Amounts falling due after more than one year

8

21,193

40,000

NET ASSETS

63,139

59,201

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

63,137

59,199

SHAREHOLDERS' FUNDS

63,139

59,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2022 and were signed on its behalf by:

M R Sykes - Director

C T Ihlenfeldt - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill is stated at cost and is written off in equal annual instalments over its estimated useful economic life of 20 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Computer equipment

-

25% on 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

60,000

AMORTISATION

At 1 January 2021

44,625

Charge for year

3,000

At 31 December 2021

47,625

NET BOOK VALUE

At 31 December 2021

12,375

At 31 December 2020

15,375

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2021

and 31 December 2021

4,515

DEPRECIATION

At 1 January 2021

and 31 December 2021

4,515

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

-

6.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

70,455

42,796

Other debtors

103,911

125,550

174,366

168,346

Amounts falling due after more than one year:

Other debtors

25,549

25,549

Aggregate amounts

199,915

193,895

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

36,402

36,403

Taxation and social security

56,904

57,262

Other creditors

36,560

35,052

129,866

128,717

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

21,193

40,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

2021

2020

£

£

C T Ihlenfeldt

Balance outstanding at start of year

55,255

79,108

Amounts advanced

53,361

36,535

Amounts repaid

(65,861

)

(60,388

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

42,755

55,255

M R Sykes

Balance outstanding at start of year

45,848

58,301

Amounts advanced

47,755

37,935

Amounts repaid

(56,892

)

(50,388

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

36,711

45,848

10.	ULTIMATE CONTROLLING PARTY

The company has been controlled throughout the period by the directors who together own the entire issued share capital.