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REGISTERED NUMBER: 01358855 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Syndex (London) Limited

Syndex (London) Limited (Registered number: 01358855)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Syndex (London) Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mr R Booth
Mr P M Booth





SECRETARY: Mr R Booth





REGISTERED OFFICE: 1146 High Road
Whetstone
London
N20 0RA





REGISTERED NUMBER: 01358855 (England and Wales)





ACCOUNTANTS: Cymans
Chartered Certified Accountants
1146 High Road
Whetstone
London
N20 0RA

Syndex (London) Limited (Registered number: 01358855)

Statement of Financial Position
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,555 3,193
Investment property 5 6,050,000 6,050,000
6,052,555 6,053,193

CURRENT ASSETS
Debtors 6 19,924 -
Cash at bank 365,437 412,625
385,361 412,625
CREDITORS
Amounts falling due within one year 7 309,554 818,513
NET CURRENT ASSETS/(LIABILITIES) 75,807 (405,888 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,128,362

5,647,305

CREDITORS
Amounts falling due after more than one
year

8

(2,003,861

)

(1,529,301

)

PROVISIONS FOR LIABILITIES (537,533 ) (537,533 )
NET ASSETS 3,586,968 3,580,471

CAPITAL AND RESERVES
Called up share capital 600 600
Retained earnings 10 3,586,368 3,579,871
SHAREHOLDERS' FUNDS 3,586,968 3,580,471

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

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

Syndex (London) Limited (Registered number: 01358855)

Statement of Financial Position - continued
31 May 2023


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 22 February 2024 and were signed on its behalf by:





Mr R Booth - Director


Syndex (London) Limited (Registered number: 01358855)

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

1. STATUTORY INFORMATION

Syndex (London) 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rent receivable on an accrual basis and invoiced sales of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% 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.

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.

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 1 (2022 - 1 ) .

Syndex (London) Limited (Registered number: 01358855)

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

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 21,456
DEPRECIATION
At 1 June 2022 18,263
Charge for year 638
At 31 May 2023 18,901
NET BOOK VALUE
At 31 May 2023 2,555
At 31 May 2022 3,193

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 6,050,000
NET BOOK VALUE
At 31 May 2023 6,050,000
At 31 May 2022 6,050,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2013 1,614,575
Valuation in 2015 280,000
Valuation in 2022 934,545
2,829,120

** TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF
INVESTMENT PROPERTY

'COST' ACCOUNT TOTAL
Cost/valuation b/f 6,050,000
6,050,000

CLIENT SCREEN TOTAL = -


Syndex (London) Limited (Registered number: 01358855)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 19,924 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 27,692 22,642
Taxation and social security 1,674 15,269
Other creditors 280,188 780,602
309,554 818,513

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 1,958,387 1,483,827
Other creditors 45,474 45,474
2,003,861 1,529,301

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,143,178 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 1,958,387 1,483,827

The bank holds a fixed and floating charge over the specific asset.

10. RESERVES
Retained
earnings
£   

At 1 June 2022 3,579,871
Profit for the year 6,497
At 31 May 2023 3,586,368

Retained earnings comprises of the following:

Distributable reserves £1,288,284 (£1,223,315 in 2021)

Non distributable reserves £2,291,587 (£1,515,660 in 2021)