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REGISTERED NUMBER: 03139476 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

GLYCOSYNTH LIMITED

GLYCOSYNTH LIMITED (REGISTERED NUMBER: 03139476)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GLYCOSYNTH LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2023







DIRECTORS: M Burton
Mrs J Burton
Mrs H J Turner
C Turner





SECRETARY: Mrs H J Turner





REGISTERED OFFICE: 14 Craven Court
Winwick Quay
Warrington
Cheshire
WA2 8QU





REGISTERED NUMBER: 03139476 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

GLYCOSYNTH LIMITED (REGISTERED NUMBER: 03139476)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,160 5,483

CURRENT ASSETS
Stocks 7,000 6,500
Debtors 5 109,335 165,626
Cash at bank and in hand 648,661 1,871,535
764,996 2,043,661
CREDITORS
Amounts falling due within one year 6 605,865 425,557
NET CURRENT ASSETS 159,131 1,618,104
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,291

1,623,587

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 162,291 1,622,587
SHAREHOLDERS' FUNDS 163,291 1,623,587

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 21 March 2024 and were signed on its behalf by:





Mrs J Burton - Director


GLYCOSYNTH LIMITED (REGISTERED NUMBER: 03139476)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Glycosynth 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.

Turnover
Turnover represents the net invoiced value of goods sold, excluding value added tax.

Royalties receivable are accounted for in the period in which they are invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

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

Financial instruments
The following assets and liabilities are classified as financial instruments; trade debtors, Directors loan accounts, other debtors, trade creditors and accruals.

Financial instruments that are payable or receivable within one year, typically trade creditors, accruals, and trade debtors, are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received.

Derivative financial instruments are recognised at fair value using a valuation technique with any gains or losses being reported in profit or loss. Outstanding derivatives at reporting date are included under the appropriate format heading depending on the nature of the derivative.

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.


GLYCOSYNTH LIMITED (REGISTERED NUMBER: 03139476)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 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.

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.

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 12 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2022
and 30 September 2023 18,718 25,249 2,800 8,829 55,596
DEPRECIATION
At 1 October 2022 16,420 24,298 743 8,652 50,113
Charge for year 460 190 514 159 1,323
At 30 September 2023 16,880 24,488 1,257 8,811 51,436
NET BOOK VALUE
At 30 September 2023 1,838 761 1,543 18 4,160
At 30 September 2022 2,298 951 2,057 177 5,483

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 102,722 159,849
Other debtors 6,613 5,777
109,335 165,626

GLYCOSYNTH LIMITED (REGISTERED NUMBER: 03139476)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,507 60,988
Taxation and social security 63,715 149,431
Other creditors 529,643 215,138
605,865 425,557

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £1,648,160 (2022 - £248,160) were paid to the directors .

8. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr & Mrs Burton by virtue of their shareholding.