Syt Coaching & Development Ltd. - Limited company accounts 22.3

REGISTERED NUMBER: SC259639 (Scotland)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 January 2023

for

Syt Coaching & Development Ltd.

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

S Thomson

REGISTERED OFFICE:

22B Marine Parade walk

Dundee

DD1 3AU

REGISTERED NUMBER:

SC259639 (Scotland)

ACCOUNTANTS:

MacDonald Accountancy Services

12 Allardice Street

Stonehaven

Aberdeenshire

AB39 2BQ

The director presents his report with the financial statements of the company for the year ended 31 January 2023.

DIRECTOR

S Thomson held office during the whole of the period from 1 February 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S Thomson - Director

13 March 2023

TURNOVER

101,272

44,521

Cost of sales

4,575

7,985

GROSS PROFIT

96,697

36,536

Administrative expenses

33,266

33,619

63,431

2,917

Other operating income

-

8,316

OPERATING PROFIT

63,431

11,233

Interest receivable and similar income

127

13

PROFIT BEFORE TAXATION

63,558

11,246

Tax on profit

12,076

2,137

PROFIT FOR THE FINANCIAL YEAR

51,482

9,109

CURRENT ASSETS

Cash at bank

147,589

104,069

CREDITORS

Amounts falling due within one year

5

17,866

5,578

NET CURRENT ASSETS

129,723

98,491

TOTAL ASSETS LESS CURRENT
LIABILITIES

129,723

98,491

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

129,721

98,489

SHAREHOLDERS' FUNDS

129,723

98,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 13 March 2023 and were signed by:

S Thomson - Director

1.	STATUTORY INFORMATION

Syt Coaching & Development Ltd. is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance

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.

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 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 February 2022

and 31 January 2023

1,004

DEPRECIATION

At 1 February 2022

and 31 January 2023

1,004

NET BOOK VALUE

At 31 January 2023

-

At 31 January 2022

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

Taxation and social security

17,195

4,863

Other creditors

671

715

17,866

5,578