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REGISTERED NUMBER: 07028938 (England and Wales)










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: Mr D F Riley
Mr S J Burgess
Mrs S R Rogers





SECRETARY: Mr D F Riley





REGISTERED OFFICE: 20E
Harris Business Park
Stoke Prior
Bromsgrove
Worcestershire
B60 4BD





REGISTERED NUMBER: 07028938 (England and Wales)





ACCOUNTANTS: Attwoods
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 28,219 34,686

CURRENT ASSETS
Stocks 687,724 578,846
Debtors 5 775,111 750,519
Cash at bank 94,646 135,529
1,557,481 1,464,894
CREDITORS
Amounts falling due within one year 1,174,404 1,131,414
NET CURRENT ASSETS 383,077 333,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

411,296

368,166

CREDITORS
Amounts falling due after more than one
year

(139,753

)

(125,169

)

PROVISIONS FOR LIABILITIES (7,478 ) (6,590 )
NET ASSETS 264,065 236,407

CAPITAL AND RESERVES
Called up share capital 1,004 1,004
Retained earnings 263,061 235,403
SHAREHOLDERS' FUNDS 264,065 236,407

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.

Syntechnologies Limited (Registered number: 07028938)

Abridged Balance Sheet - continued
30 September 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 March 2024 and were signed on its behalf by:




Mr D F Riley - Director Mrs S R Rogers - Director




Mr S J Burgess - Director


Syntechnologies Limited (Registered number: 07028938)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Syntechnologies 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.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% 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.

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 13 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022 56,680
Additions 5,109
At 30 September 2023 61,789
DEPRECIATION
At 1 October 2022 21,994
Charge for year 11,576
At 30 September 2023 33,570
NET BOOK VALUE
At 30 September 2023 28,219
At 30 September 2022 34,686

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Other debtors 6,750 -

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 6,150 6,150
Between one and five years 2,050 8,200
8,200 14,350

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 261,592 229,533

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
£    £   
Mr S J Burgess
Balance outstanding at start of year - (7,556 )
Amounts advanced - 7,556
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mrs S R Rogers
Balance outstanding at start of year - (7,598 )
Amounts advanced - 7,598
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 Mr D F Riley.