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REGISTERED NUMBER: 04021566 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

SYPLEX LIMITED

SYPLEX LIMITED (REGISTERED NUMBER: 04021566)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SYPLEX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: S Foote
C A Tedman
A D Mitchell
N L Francis





SECRETARY: S Foote





REGISTERED OFFICE: 4 Stow Court
Stow Road
Stow cum Quy
Cambridge
CB25 9AS





REGISTERED NUMBER: 04021566 (England and Wales)





ACCOUNTANTS: Prentis & Co LLP
Chartered Accountants
115c Milton Road
Cambridge
CB4 1XE

SYPLEX LIMITED (REGISTERED NUMBER: 04021566)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 142,985 113,959

CURRENT ASSETS
Stocks 500 500
Debtors 5 412,073 306,905
Cash at bank 553,842 571,097
966,415 878,502
CREDITORS
Amounts falling due within one year 6 294,414 256,472
NET CURRENT ASSETS 672,001 622,030
TOTAL ASSETS LESS CURRENT
LIABILITIES

814,986

735,989

CREDITORS
Amounts falling due after more than one
year

7

(15,045

)

(18,554

)

PROVISIONS FOR LIABILITIES (4,339 ) (6,642 )
NET ASSETS 795,602 710,793

CAPITAL AND RESERVES
Called up share capital 55 55
Capital redemption reserve 45 45
Retained earnings 795,502 710,693
SHAREHOLDERS' FUNDS 795,602 710,793

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

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

SYPLEX LIMITED (REGISTERED NUMBER: 04021566)

BALANCE SHEET - continued
31 JULY 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





S Foote - Director


SYPLEX LIMITED (REGISTERED NUMBER: 04021566)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Syplex 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 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
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.
Equipment - 20% on cost
Motor vehicles - 25% on reducing balance

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 Profit and Loss Account, 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.

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.

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 20 (2022 - 20 ) .

SYPLEX LIMITED (REGISTERED NUMBER: 04021566)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 August 2022 51,712 144,476 196,188
Additions 15,247 87,221 102,468
Disposals - (60,751 ) (60,751 )
At 31 July 2023 66,959 170,946 237,905
DEPRECIATION
At 1 August 2022 35,519 46,710 82,229
Charge for year 8,036 35,143 43,179
Eliminated on disposal - (30,488 ) (30,488 )
At 31 July 2023 43,555 51,365 94,920
NET BOOK VALUE
At 31 July 2023 23,404 119,581 142,985
At 31 July 2022 16,193 97,766 113,959

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022
and 31 July 2023 32,791
DEPRECIATION
At 1 August 2022
and 31 July 2023 13,307
NET BOOK VALUE
At 31 July 2023 19,484
At 31 July 2022 19,484

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 216,860 285,081
Other debtors 10,500 5,000
Directors' current accounts 135,235 235
Tax 45,642 11,684
Prepayments 3,836 4,905
412,073 306,905

SYPLEX LIMITED (REGISTERED NUMBER: 04021566)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,510 3,510
Trade creditors 76,801 91,918
Tax 106,826 63,104
Social security and other taxes 32,163 32,953
VAT 44,634 56,651
Other creditors 2,000 3,122
Accruals and deferred income 28,480 5,214
294,414 256,472

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 15,045 18,554

8. OTHER FINANCIAL COMMITMENTS

At 31 July 2023 the company was committed to making the following total payments under non-cancellable operating leases:
20232022
£   £   
Operating leases which expire:
Between two and five years24,00020,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
S Foote
Balance outstanding at start of year 235 27,447
Amounts advanced 135,000 -
Amounts repaid - (27,212 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 135,235 235

10. RELATED PARTY DISCLOSURES

During the year the company paid rent of £12,396 (2022 - £12,000) to Stow Partners, a partnership of which S Foote is a partner. The company also paid a service charge of £1,230 (2022 - £1,590) to Stow Court Management Company Limited, a company in which S Foote is a shareholder.

Total dividends of £135,200 were paid to the directors (2022 : £135,200).

11. ULTIMATE CONTROLLING PARTY

The controlling party is S Foote.