IRIS Accounts Production v23.1.5.20 07353610 Board of Directors 1.5.22 30.4.23 30.4.23 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure073536102022-04-30073536102023-04-30073536102022-05-012023-04-30073536102021-04-30073536102021-05-012022-04-30073536102022-04-3007353610ns16:EnglandWales2022-05-012023-04-3007353610ns15:PoundSterling2022-05-012023-04-3007353610ns11:Director12022-05-012023-04-3007353610ns11:PrivateLimitedCompanyLtd2022-05-012023-04-3007353610ns11:SmallEntities2022-05-012023-04-3007353610ns11:AuditExempt-NoAccountantsReport2022-05-012023-04-3007353610ns11:SmallCompaniesRegimeForDirectorsReport2022-05-012023-04-3007353610ns11:SmallCompaniesRegimeForAccounts2022-05-012023-04-3007353610ns11:FullAccounts2022-05-012023-04-3007353610ns11:Director22022-05-012023-04-3007353610ns11:CompanySecretary12022-05-012023-04-3007353610ns11:RegisteredOffice2022-05-012023-04-3007353610ns6:CurrentFinancialInstruments2023-04-3007353610ns6:CurrentFinancialInstruments2022-04-3007353610ns6:ShareCapital2023-04-3007353610ns6:ShareCapital2022-04-3007353610ns6:CapitalRedemptionReserve2023-04-3007353610ns6:CapitalRedemptionReserve2022-04-3007353610ns6:RetainedEarningsAccumulatedLosses2023-04-3007353610ns6:RetainedEarningsAccumulatedLosses2022-04-3007353610ns6:LandBuildings2022-05-012023-04-3007353610ns6:PlantMachinery2022-05-012023-04-3007353610ns6:LandBuildings2022-04-3007353610ns6:PlantMachinery2022-04-3007353610ns6:MotorVehicles2022-04-3007353610ns6:MotorVehicles2022-05-012023-04-3007353610ns6:LandBuildings2023-04-3007353610ns6:PlantMachinery2023-04-3007353610ns6:MotorVehicles2023-04-3007353610ns6:LandBuildings2022-04-3007353610ns6:PlantMachinery2022-04-3007353610ns6:MotorVehicles2022-04-3007353610ns6:WithinOneYearns6:CurrentFinancialInstruments2023-04-3007353610ns6:WithinOneYearns6:CurrentFinancialInstruments2022-04-30
REGISTERED NUMBER: 07353610 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Synergy Biologics Limited

Synergy Biologics Limited (Registered number: 07353610)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Synergy Biologics Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: Mr Robin Kumar Deb
Miss Zahida Parveen Khurshid





SECRETARY: Mr Robin Kumar Deb





REGISTERED OFFICE: Unit 1
The Stamp Factory
Wednesbury Road
Walsall
WS1 3QY





REGISTERED NUMBER: 07353610 (England and Wales)





ACCOUNTANTS: Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA

Synergy Biologics Limited (Registered number: 07353610)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,580,500 1,690,570
Investment property 5 1,093,657 -
2,674,157 1,690,570

CURRENT ASSETS
Stocks 250,775 420,775
Debtors 6 566,974 1,608,101
Cash at bank and in hand 760,432 1,047,091
1,578,181 3,075,967
CREDITORS
Amounts falling due within one year 7 (338,151 ) (791,207 )
NET CURRENT ASSETS 1,240,030 2,284,760
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,914,187

3,975,330

PROVISIONS FOR LIABILITIES (135,857 ) (118,569 )
NET ASSETS 3,778,330 3,856,761

CAPITAL AND RESERVES
Called up share capital 66 66
Capital redemption reserve 33 33
Retained earnings 3,778,231 3,856,662
SHAREHOLDERS' FUNDS 3,778,330 3,856,761

Synergy Biologics Limited (Registered number: 07353610)

Balance Sheet - continued
30 April 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





Mr Robin Kumar Deb - Director


Synergy Biologics Limited (Registered number: 07353610)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. STATUTORY INFORMATION

Synergy Biologics 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


Synergy Biologics Limited (Registered number: 07353610)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 22 ).

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 May 2022 1,037,324 2,357,717 19,000 3,414,041
Additions 7,083 10,006 - 17,089
At 30 April 2023 1,044,407 2,367,723 19,000 3,431,130
DEPRECIATION
At 1 May 2022 96,537 1,613,570 13,364 1,723,471
Charge for year 13,903 111,847 1,409 127,159
At 30 April 2023 110,440 1,725,417 14,773 1,850,630
NET BOOK VALUE
At 30 April 2023 933,967 642,306 4,227 1,580,500
At 30 April 2022 940,787 744,147 5,636 1,690,570

Synergy Biologics Limited (Registered number: 07353610)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,093,657
At 30 April 2023 1,093,657
NET BOOK VALUE
At 30 April 2023 1,093,657

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 498,653 345,858
Other debtors 68,321 1,262,243
566,974 1,608,101

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 87,252 82,044
Taxation and social security 146,862 163,494
Other creditors 104,037 545,669
338,151 791,207

8. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party are the Directors by virtue of their ownership of 100% of the issued share capital in the company.