1_SYCAMORE_SQUARE_LTD - Accounts

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

1 Sycamore Square Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 58 Linden Road, Gosforth, Newcastle upon Tyne, NE3 4HB.

These financial statements cover the period from incorporation on 5 July 2022 to 31 December 2023 which is longer than 12 months. The accounting period has been extended to match that of its ultimate parent company.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Turnover consists of rental income, net of VAT, which is recognised on a straight-line basis over the life of the lease; even if this does not match the pattern of payments

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

The average monthly number of persons (including directors) employed by the company during the Period was:

Investment property comprises residential property located in the UK. The property was purchased in July 2023 for £850,000. The director has considered the condition of the property and the changes in the property market up to 31 December 2023 and has concluded that no significant adjustments to the total accumulated costs of £913,691 are required to reflect fair value at that date.

The company is a wholly owned subsidiary of Gabriel Group Limited, a company registered in England and Wales.