Ian Sykes and Co Limited


1 February 2017falseNo description of principal activityTaxfiler2017.44.Web9725943business:PrivateLimitedCompanyLtd2017-02-012017-12-3197259432017-01-3197259432017-02-012017-12-319725943business:AuditExemptWithAccountantsReport2017-02-012017-12-319725943business:FullAccounts2017-02-012017-12-3197259432017-12-319725943business:Director12017-02-012017-12-319725943business:Director22017-02-012017-12-3197259432017-01-319725943core:WithinOneYear2017-12-319725943core:WithinOneYear2017-01-319725943core:ShareCapital2017-12-319725943core:ShareCapital2017-01-319725943core:RetainedEarningsAccumulatedLosses2017-12-319725943core:RetainedEarningsAccumulatedLosses2017-01-319725943business:SmallEntities2017-02-012017-12-319725943countries:EnglandWales2017-02-012017-12-319725943core:IntangibleAssetsOtherThanGoodwill2017-01-319725943core:IntangibleAssetsOtherThanGoodwill2017-12-319725943core:IntangibleAssetsOtherThanGoodwill2017-02-012017-12-3197259432015-08-102017-01-31iso4217:GBPxbrli:pure
Company Registration No. 9725943 (England and Wales)
Ian Sykes and Co LimitedUnaudited accounts for the period from 1 February 2017 to 31 December 2017
Ian Sykes and Co LimitedUnaudited accounts Contents
Page
- 2 -
Ian Sykes and Co Limited Company Information for the period from 1 February 2017 to 31 December 2017
Directors
Ian SykesKaren Sykes
Company Number
9725943 (England and Wales)
Accountants
Ian Sykes and Co Limited 1 Windlesham Gardens Shoreham by Sea West Sussex BN43 5AD
- 3 -
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Ian Sykes and Co Limited for the period from 1 February 2017 to 31 December 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ian Sykes and Co Limited for the period from 1 February 2017 to 31 December 2017 as set out on pages 5 - 7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Ian Sykes and Co Limited Chartered Certified Accountants 1 Windlesham Gardens Shoreham by Sea West Sussex BN43 5AD 2 January 2018
- 4 -
Ian Sykes and Co Limited Statement of financial position as at 31 December 2017
31/12/2017 
31/01/2017 
Notes
£ 
£ 
Fixed assets
Intangible assets
275 
400 
Current assets
Debtors
9,291 
3,189 
Cash at bank and in hand
11,889 
1,746 
21,180 
4,935 
Creditors: amounts falling due within one year
(14,577)
(11,209)
Net current assets/(liabilities)
6,603 
(6,274)
Net assets/(liabilities)
6,878 
(5,874)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
6,778 
(5,974)
Shareholders' funds
6,878 
(5,874)
For the period ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 2 January 2018.
Ian Sykes Director Company Registration No. 9725943
- 5 -
Ian Sykes and Co Limited Notes to the Accounts for the period from 1 February 2017 to 31 December 2017
1
Statutory information
Ian Sykes and Co Limited is a private company, limited by shares, registered in England and Wales, registration number 9725943.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the period from 1 February 2017 to 31 December 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 10 August 2015
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Revenue
Revenue, described as turnover, is the value of work performed during the year with respect to services. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.
Intangible fixed assets
The cost of the right to use the company's trademark is amortised on a straight line basis over 5 years, this being the period of the licence.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 February 2017
500 
At 31 December 2017
500 
Amortisation
At 1 February 2017
100 
Charge for the period
125 
At 31 December 2017
225 
Net book value
At 31 December 2017
275 
At 31 January 2017
400 
5
Debtors
31/12/2017 
31/01/2017 
£ 
£ 
Trade debtors
8,966 
1,260 
Accrued income and prepayments
236 
1,916 
Other debtors
89 
13 
9,291 
3,189 
- 6 -
Ian Sykes and Co Limited Notes to the Accounts for the period from 1 February 2017 to 31 December 2017
6
Creditors: amounts falling due within one year
31/12/2017 
31/01/2017 
£ 
£ 
Trade creditors
1,746 
458 
Taxes and social security
5,741 
582 
Loans from directors
7,090 
10,169 
14,577 
11,209 
7
Transactions with related parties
The loan from the directors has not been overdrawn at any time during the year. It is non interest bearing and repayable on demand.
8
Average number of employees
During the period the average number of employees was 2 (31/01/2017: 2).
- 7 -