Company registration number 13245691 (England and Wales)
SYNERGASIA LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
SYNERGASIA LIMITED
COMPANY INFORMATION
Director
P Rizos
Company number
13245691
Registered office
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
Accountants
Evelyn Partners (Thames Valley) Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
SYNERGASIA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
SYNERGASIA LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
1,480,733
1,160,000
Current assets
Debtors
4
4,399
5,275
Cash at bank and in hand
219,943
179,621
224,342
184,896
Creditors: amounts falling due within one year
5
(581,888)
(556,786)
Net current liabilities
(357,546)
(371,890)
Total assets less current liabilities
1,123,187
788,110
Creditors: amounts falling due after more than one year
6
(790,998)
(777,410)
Provisions for liabilities
(60,939)
-
0
Net assets
271,250
10,700
Capital and reserves
Called up share capital
7
30
30
Non-distributable profits reserve
8
259,794
-
0
Distributable profit and loss reserves
11,426
10,670
Total equity
271,250
10,700

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

SYNERGASIA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 7 February 2024
P Rizos
Director
Company registration number 13245691 (England and Wales)
SYNERGASIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Synergasia Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB.

1.1
Reporting period

The entity's reporting period for the comparative is greater than one year as it's was its' first period since incorporation and therefore the figures are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable for rental income, and is shown net of discounts.

 

Rental income from investment properties is recognised in profit and loss on straight-line basis over the lease term.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.

 

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

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

Basic financial liabilities

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

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

SYNERGASIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Investment property
2023
£
Fair value
At 1 April 2022
1,160,000
Revaluations
320,733
At 31 March 2023
1,480,733

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director at March 2023. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
4,399
5,275
SYNERGASIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
145
Corporation tax
430
2,503
Other creditors
505,660
489,497
Accruals and deferred income
75,798
64,641
581,888
556,786

Included in other creditors are amounts due to a shareholder of £152,644 (2022 - £152,821). This loan is interest free and repayable on demand.

 

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
790,998
777,410

Included in other creditors falling due after more than one year, are amounts due to a company under common control of £790,998 (2022 - £777,410). Interest of £22,939 (2022 - 28,583) has been charged on this loan during the period.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
30
30
30
30
8
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
-
-
Non distributable profits in the year
259,794
-
At the end of the year
259,794
-
9
Directors' transactions

Included in other creditors falling due within one year are amounts due to the director of £333,206 (2022 - £316,835). Interest of £4,695 (2022 - £11,881) has been charged on this loan during the period.

 

 

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