Registered number
07480088
SYRINGA UK LTD
Filleted Accounts
31 December 2021
SYRINGA UK LTD
Registered number: 07480088
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Intangible assets 3 9,600 12,000
Tangible assets 4 2,297 3,063
11,897 15,063
Current assets
Stocks 309,645 362,369
Debtors 5 128,849 322,633
Cash at bank and in hand 424,103 138,539
862,597 823,541
Creditors: amounts falling due within one year 6 (118,843) (156,303)
Net current assets 743,754 667,238
Total assets less current liabilities 755,651 682,301
Creditors: amounts falling due after more than one year 7 (221,527) (275,000)
Provisions for liabilities (2,379) (3,493)
Net assets 531,745 403,808
Capital and reserves
Called up share capital 100 100
Profit and loss account 531,645 403,708
Shareholders' funds 531,745 403,808
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H J C S van der Merwe
Director
Approved by the board on 7 September 2022
SYRINGA UK LTD
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 8 5
3 Intangible fixed assets £
Software:
Cost
At 1 January 2021 24,000
At 31 December 2021 24,000
Amortisation
At 1 January 2021 12,000
Provided during the year 2,400
At 31 December 2021 14,400
Net book value
At 31 December 2021 9,600
At 31 December 2020 12,000
Capitalised software is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021 16,427
At 31 December 2021 16,427
Depreciation
At 1 January 2021 13,364
Charge for the year 766
At 31 December 2021 14,130
Net book value
At 31 December 2021 2,297
At 31 December 2020 3,063
5 Debtors 2021 2020
£ £
Trade debtors 37,088 231,877
Loans to participators 90,485 67,524
Other debtors 1,276 23,232
128,849 322,633
6 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts - 9,166
Trade creditors 51,971 71,689
Corporation tax 45,676 36,348
Other taxes and social security costs 9,688 672
Other creditors 11,508 38,428
118,843 156,303
7 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 221,527 275,000
8 Loans 2021 2020
£ £
Creditors include:
Secured bank loans 284,166 284,166
Fixed and floating charge and general pledge.
9 Other information
SYRINGA UK LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit G
Daux Road
Billingshurst
West Sussex
RH14 9SR
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