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REGISTERED NUMBER: SC316502 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

SYNERGY FINANCIAL PLANNING LIMITED

SYNERGY FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: SC316502)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SYNERGY FINANCIAL PLANNING LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: D Neely
Ms L Dempster





REGISTERED OFFICE: The Gatehouse
Crosshill Road
Brishopbriggs
Glasgow
G64 2QG





REGISTERED NUMBER: SC316502 (Scotland)





ACCOUNTANTS: SD Business Management
Suite 411 Baltic Chambers
50 Wellington Street
Glasgow
Strathclyde
G2 6HJ

SYNERGY FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: SC316502)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,780 6,690
Tangible assets 5 300,935 159,382
305,715 166,072

CURRENT ASSETS
Debtors 12,805 59,953
Cash at bank and in hand 52,745 238,393
65,550 298,346
CREDITORS
Amounts falling due within one year 76,628 127,561
NET CURRENT (LIABILITIES)/ASSETS (11,078 ) 170,785
TOTAL ASSETS LESS CURRENT LIABILITIES 294,637 336,857

CREDITORS
Amounts falling due after more than one
year

6

(123,825

)

(160,518

)

PROVISIONS FOR LIABILITIES (57,178 ) (30,283 )
NET ASSETS 113,634 146,056

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 111,634 144,056
SHAREHOLDERS' FUNDS 113,634 146,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

SYNERGY FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: SC316502)

Abridged Balance Sheet - continued
31 March 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 November 2023 and were signed on its behalf by:





D Neely - Director


SYNERGY FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: SC316502)

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

1. STATUTORY INFORMATION

Synergy Financial Planning Limited is a private company, limited by shares , registered in Scotland. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Website is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 10% on cost

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

SYNERGY FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: SC316502)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 9,550
AMORTISATION
At 1 April 2022 2,860
Amortisation for year 1,910
At 31 March 2023 4,770
NET BOOK VALUE

At 31 March 2023 4,780
At 31 March 2022 6,690

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 274,573
Additions 254,467
Disposals (96,856 )
At 31 March 2023 432,184
DEPRECIATION
At 1 April 2022 115,191
Charge for year 67,416
Eliminated on disposal (51,358 )
At 31 March 2023 131,249
NET BOOK VALUE
At 31 March 2023 300,935
At 31 March 2022 159,382

SYNERGY FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: SC316502)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 74,080
At 31 March 2023 74,080
DEPRECIATION
Charge for year 4,630
At 31 March 2023 4,630
NET BOOK VALUE
At 31 March 2023 69,450

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
31.3.23 31.3.22
£    £   
Repayable by instalments
Other loans more 5yrs instal 8,525 -

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.23 31.3.22
£    £   
D Neely
Balance outstanding at start of year 14,812 22,420
Amounts advanced 779 15,000
Amounts repaid (16,677 ) (22,608 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,086 ) 14,812

No interest is charged on the outstanding loan.