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Registered number: 06837709









SYNERGYVETS RECRUITMENT LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
SYNERGYVETS RECRUITMENT LTD
REGISTERED NUMBER: 06837709

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,338
2,468

  
10,338
2,468

Current assets
  

Debtors: amounts falling due after more than one year
 5 
6,999
3,117

Debtors: amounts falling due within one year
 5 
413,308
278,623

Bank and cash balances
  
281,403
422,087

  
701,710
703,827

Creditors: amounts falling due within one year
 6 
(212,512)
(216,046)

Net current assets
  
 
 
489,198
 
 
487,781

Total assets less current liabilities
  
499,536
490,249

Provisions for liabilities
  

Deferred tax
 7 
(1,757)
(518)

  
 
 
(1,757)
 
 
(518)

Net assets
  
497,779
489,731


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
497,778
489,730

  
497,779
489,731


Page 1

 
SYNERGYVETS RECRUITMENT LTD
REGISTERED NUMBER: 06837709
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Sharlie Goddard
Director

Date: 26 July 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SYNERGYVETS RECRUITMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The principal activity of the Company was that of recruitment services for locum and permanent vets and vet nurses throughout the UK.
The Company is a private company, limited by shares, and is incorporated in England and Wales.
The registered office address is Stonecross, Trumpington High Street, Cambridge, CB2 9SU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover represents amounts derived from the provision of goods and services which fall within the company's ordinary activities after deduction of trade discounts and value added tax. Turnover is recognised upon the date of agreed contracts between the recruited individual and the customer.
The turnover, which arises in the United Kingdom, is attributable to the company's principal activity.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
SYNERGYVETS RECRUITMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 
2.5

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
SYNERGYVETS RECRUITMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. 
 
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).

Page 5

 
SYNERGYVETS RECRUITMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
6,383
39,179
45,562


Additions
-
9,773
9,773



At 31 March 2024

6,383
48,952
55,335



Depreciation


At 1 April 2023
5,216
37,878
43,094


Charge for the year on owned assets
307
1,596
1,903



At 31 March 2024

5,523
39,474
44,997



Net book value



At 31 March 2024
860
9,478
10,338



At 31 March 2023
1,167
1,301
2,468

Page 6

 
SYNERGYVETS RECRUITMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
6,999
3,117


2024
2023
£
£

Due within one year

Trade debtors
331,483
184,548

Other debtors
13,117
13,400

Prepayments and accrued income
68,708
80,675

413,308
278,623


Included within other debtors due within one year is a loan to Philip Goddard, a former Director, amounting to £10,000 (2023 - £10,000). This was repaid in full after the year end. 




6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
29
122

Trade creditors
40,006
10,340

Corporation tax
339
13,639

Other taxation and social security
146,860
120,097

Other creditors
1,090
5,711

Accruals and deferred income
24,188
66,137

212,512
216,046


Page 7

 
SYNERGYVETS RECRUITMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Deferred taxation




2024


£






At beginning of year
(518)


Charged to profit or loss
(1,239)



At end of year
(1,757)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,757)
(518)


8.


Related party transactions

Included within office costs are management charges of £13,000 (2023 - £15,651) charged by Goddard Farms, a partnership in which one of the directors is a partner.

 
Page 8