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REGISTERED NUMBER: 10586051 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Synergy3 Group Limited

Synergy3 Group Limited (Registered number: 10586051)

Contents of the Financial Statements
for the Year Ended 31 January 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Synergy3 Group Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: S P Francis





REGISTERED OFFICE: 118 Pall Mall
London
SW1Y 5EA





REGISTERED NUMBER: 10586051 (England and Wales)





ACCOUNTANTS: Butt Miller
Chartered Accountants
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

Synergy3 Group Limited (Registered number: 10586051)

Statement of Financial Position
31 January 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 317 1,660
Investments 5 25,318 20,000
25,635 21,660

CURRENT ASSETS
Debtors 6 81,799 46,736
Cash at bank 70,624 126,662
152,423 173,398
CREDITORS
Amounts falling due within one year 7 (16,909 ) (19,077 )
NET CURRENT ASSETS 135,514 154,321
TOTAL ASSETS LESS CURRENT
LIABILITIES

161,149

175,981

PROVISIONS FOR LIABILITIES - (236 )
NET ASSETS 161,149 175,745

CAPITAL AND RESERVES
Called up share capital 200,000 200,000
Retained earnings (38,851 ) (24,255 )
SHAREHOLDERS' FUNDS 161,149 175,745

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2023 and were signed by:



S P Francis - Director


Synergy3 Group Limited (Registered number: 10586051)

Notes to the Financial Statements
for the Year Ended 31 January 2023


1. STATUTORY INFORMATION

Synergy3 Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents invoiced sales of services, excluding value added tax.

Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33.33% on cost

Government grants
Grants comprise of local council grants received and are recognised in the Income Statement once the relevant performance conditions have been met.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leasing commitments
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

Synergy3 Group Limited (Registered number: 10586051)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


2. ACCOUNTING POLICIES - continued

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 Income Statement in the period to which they relate.

Fixed asset investments
Fixed asset investments comprise of unlisted shares valued at cost.

Going concern
After making enquiries, the director has reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, he continues to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2022 7,052 2,281 9,333
Disposals (4,403 ) - (4,403 )
At 31 January 2023 2,649 2,281 4,930
DEPRECIATION
At 1 February 2022 5,456 2,217 7,673
Charge for year 429 64 493
Eliminated on disposal (3,553 ) - (3,553 )
At 31 January 2023 2,332 2,281 4,613
NET BOOK VALUE
At 31 January 2023 317 - 317
At 31 January 2022 1,596 64 1,660

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 February 2022 20,000
Additions 5,318
At 31 January 2023 25,318
NET BOOK VALUE
At 31 January 2023 25,318
At 31 January 2022 20,000

Synergy3 Group Limited (Registered number: 10586051)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 41,109 14,539
Other debtors - 2,909
Director's current account 32,088 20,524
Tax 6,192 6,286
S455 tax 1,794 -
Prepayments 616 2,478
81,799 46,736

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
VAT 16,909 17,026
Accruals - 2,051
16,909 19,077

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 1,315

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
S P Francis
Balance outstanding at start of year 20,524 15,001
Amounts advanced 27,448 53,384
Amounts repaid (15,884 ) (47,861 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,088 20,524

The above loan is unsecured, repayable on demand and where applicable, interest has been charged at the HMRC approved rate.

10. DIVIDENDS

The dividend declared was based on interim accounts which showed that there were sufficient profits available for distribution at the time the dividend was paid. The director acknowledges that no further distributions can be made until there are sufficient profits available for that purpose.