REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
for |
Syntechnologies Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
for |
Syntechnologies Limited |
Syntechnologies Limited (Registered number: 07028938) |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Syntechnologies Limited |
Company Information |
for the Year Ended 30 September 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
90-92 High Street |
Evesham |
Worcestershire |
WR11 4EU |
Syntechnologies Limited (Registered number: 07028938) |
Abridged Balance Sheet |
30 September 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Syntechnologies Limited (Registered number: 07028938) |
Abridged Balance Sheet - continued |
30 September 2023 |
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 |
Syntechnologies Limited (Registered number: 07028938) |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Syntechnologies Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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. |
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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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. |
Syntechnologies Limited (Registered number: 07028938) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
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 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2022 |
Additions |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Other debtors |
6. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
30.9.23 | 30.9.22 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Syntechnologies Limited (Registered number: 07028938) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.23 | 30.9.22 |
£ | £ |
Bank overdrafts |
8. | OTHER FINANCIAL COMMITMENTS |
The company expects to have future rental commitments over the next 12 months of £35,000 (2023 - £35,890) |
The company expects to have future car lease commitments over the next 12 months of £61,320 (2023 - £65,098) |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022: |
30.9.23 | 30.9.22 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Syntechnologies Limited (Registered number: 07028938) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
10. | RELATED PARTY DISCLOSURES |
D Riley, S Burgess and S Rogers are directors of TEC ID Limited. During the reporting period, the company had sales with TEC ID Limited resulting in a closing debit balance of £5,440 (2022: £35,543). These are considered to be valued at a competitive market value. |
D Riley, S Burgess and S Rogers are directors of Hometec Property Services Limited. During the year, the company had transactions with Hometec Property Services Limited resulting in a closing debit balance of £100,510 (2022: £96,435). These transactions are considered to be below market value with no interest being charged. |
D Riley and S Burgess are directors of Automotively Limited. During the year, the company had transactions with Automotively Limited resulting in a closing debit balance of £23,026 (2022: £13,298). These transactions are considered to be below market value with no interest being charged. |
D Riley is also a director of Riley and Riley Limited. The company had no further transactions with Riley and Riley Limited during the reporting period, resulting in the closing credit balance remaining the same at £35,559 (2022: £35,559). These transactions are considered to be below market value with no interest being charged. Dividends were also paid to this company from Syntechnologies Limited. |
S Burgess is also a director of SITAM Limited. The company had no further transactions with SITAM Limited during the reporting period, resulting in the closing credit balance remaining the same at £7,442 (2022: £7,442).These transactions are considered to be below market value with no interest being charged. Dividends were also paid to this company from Syntechnologies Limited. |
S Rogers is also a director of Webheath Limited. The company had no further transactions with Webheath Limited during the reporting period, resulting in the closing credit balance remaining the same at £7,543 (2022: £7,598). These transactions are considered to be below market value with no interest being charged. Dividends were also paid to this company from Syntechnologies Limited. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is Riley and Riley Limited. |
The ultimate controlling party is |