Caseware UK (AP4) 2021.0.152 2021.0.152 2021-09-302021-09-3012020-10-01false1No description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05550129 2020-10-01 2021-09-30 05550129 2019-10-01 2020-09-30 05550129 2021-09-30 05550129 2020-09-30 05550129 c:Director1 2020-10-01 2021-09-30 05550129 d:PlantMachinery 2020-10-01 2021-09-30 05550129 d:OtherPropertyPlantEquipment 2020-10-01 2021-09-30 05550129 d:OtherPropertyPlantEquipment 2021-09-30 05550129 d:OtherPropertyPlantEquipment 2020-09-30 05550129 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2020-10-01 2021-09-30 05550129 d:CurrentFinancialInstruments 2021-09-30 05550129 d:CurrentFinancialInstruments 2020-09-30 05550129 d:Non-currentFinancialInstruments 2021-09-30 05550129 d:Non-currentFinancialInstruments 2020-09-30 05550129 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 05550129 d:CurrentFinancialInstruments d:WithinOneYear 2020-09-30 05550129 d:Non-currentFinancialInstruments d:AfterOneYear 2021-09-30 05550129 d:Non-currentFinancialInstruments d:AfterOneYear 2020-09-30 05550129 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-09-30 05550129 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-09-30 05550129 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-09-30 05550129 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-09-30 05550129 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-09-30 05550129 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-09-30 05550129 d:ShareCapital 2021-09-30 05550129 d:ShareCapital 2020-09-30 05550129 d:RetainedEarningsAccumulatedLosses 2021-09-30 05550129 d:RetainedEarningsAccumulatedLosses 2020-09-30 05550129 c:FRS102 2020-10-01 2021-09-30 05550129 c:AuditExempt-NoAccountantsReport 2020-10-01 2021-09-30 05550129 c:FullAccounts 2020-10-01 2021-09-30 05550129 c:PrivateLimitedCompanyLtd 2020-10-01 2021-09-30 05550129 2 2020-10-01 2021-09-30 iso4217:GBP xbrli:pure

Registered number: 05550129









SYNERGY AIRCRAFT LEASING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2021

 
SYNERGY AIRCRAFT LEASING LIMITED
REGISTERED NUMBER: 05550129

BALANCE SHEET
AS AT 30 SEPTEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,388,157
1,307,989

  
1,388,157
1,307,989

Current assets
  

Debtors: amounts falling due within one year
 5 
185,573
93,842

Cash at bank and in hand
 6 
171,868
148,859

  
357,441
242,701

Creditors: amounts falling due within one year
 7 
(672,004)
(199,464)

Net current (liabilities)/assets
  
 
 
(314,563)
 
 
43,237

Total assets less current liabilities
  
1,073,594
1,351,226

Creditors: amounts falling due after more than one year
 8 
(297,931)
(858,179)

  

Net assets
  
775,663
493,047


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
775,563
492,947

  
775,663
493,047


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 August 2022.

Page 1

 
SYNERGY AIRCRAFT LEASING LIMITED
REGISTERED NUMBER: 05550129
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2021


G G Heavens
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
SYNERGY AIRCRAFT LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

1.


General information

Synergy Aircraft Leasing Limited is a private company, limited by shares, registered in England and
Wales. The company's registered number is shown on the cover page, its registered office is Rivers Suite, Fairoaks Airport, Chobham, GU24 8HX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SYNERGY AIRCRAFT LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
SYNERGY AIRCRAFT LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Aircraft
-
20% straight line
Other fixed assets
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

Page 5

 
SYNERGY AIRCRAFT LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)


2.13
Financial instruments (continued)

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).


4.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 October 2020
1,583,556


Additions
94,300



At 30 September 2021

1,677,856



Depreciation


At 1 October 2020
275,567


Charge for the year on owned assets
14,132



At 30 September 2021

289,699



Net book value



At 30 September 2021
1,388,157



At 30 September 2020
1,307,989


5.


Debtors

2021
2020
£
£
Page 6

 
SYNERGY AIRCRAFT LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

5.Debtors (continued)



Trade debtors
142,520
3,320

Other debtors
1,053
69,500

Prepayments and accrued income
42,000
21,022

185,573
93,842



6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
171,868
148,859

171,868
148,859



7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
540,436
109,003

Trade creditors
2,285
-

Amounts owed to group undertakings
82,670
-

Corporation tax
36,536
17,544

Other taxation and social security
7,077
6,160

Accruals and deferred income
3,000
66,757

672,004
199,464



8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
60,000
620,248

Amounts owed to group undertakings
237,931
237,931

297,931
858,179


Page 7

 
SYNERGY AIRCRAFT LEASING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

9.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
540,436
109,003


540,436
109,003

Amounts falling due 1-2 years

Bank loans
60,000
173,975


60,000
173,975

Amounts falling due 2-5 years

Bank loans
-
374,317


-
374,317

Amounts falling due after more than 5 years

Bank loans
-
71,956

-
71,956

600,436
729,251



10.


Controlling party

The controlling party is G G Heavens, a director and shareholder of the the parent compan,, Synergy Aviation Holdings Limited, a company incorporated in the United Kingdom
The company is part of a small group so is exempt from producing consolidated accounts.

 
Page 8