Registered number
05731439
SYNERGY LIFESTYLE LIMITED
Filleted Accounts
For the year ended 31 March 2023
SYNERGY LIFESTYLE LIMITED
Registered number: 05731439
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 672 895
Current assets
Debtors 4 50,233 50,328
Cash at bank and in hand 349,929 181,258
400,162 231,586
Creditors: amounts falling due within one year 5 (402,216) (240,870)
#NAME? (2,054) (9,284)
Total assets less current liabilities (1,382) (8,389)
Creditors: amounts falling due after more than one year 6 (21,801) (31,447)
#NAME? (23,183) (39,836)
Capital and reserves
Called up share capital 100 100
Profit and loss account (23,283) (39,936)
Shareholders' funds (23,183) (39,836)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Mandeep Singh Kakar
Director
Approved by the board on 30 July 2024
SYNERGY LIFESTYLE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Furniture and Fixtures 25% on reducing balance
Computer Equipment 25% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Going concern
The accounts are prepared on a going concern basis notwithstanding the fact that the company balance sheet has a negative equity, on the ground that the company is in agreement with the creditors and the shareholder will continue to provide financial support to the company.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 6
3 Tangible fixed assets
Furniture & Fixtures Computer Equipment Total
£ £ £
Cost
At 1 April 2022 12,407 3,653 16,060
At 31 March 2023 12,407 3,653 16,060
Depreciation
At 1 April 2022 11,561 3,604 15,165
Charge for the year 211 12 223
At 31 March 2023 11,772 3,616 15,388
Net book value
At 31 March 2023 635 37 672
At 31 March 2022 846 49 895
4 Debtors 2023 2022
£ £
Trade debtors 50,233 48,682
Other debtors - 1,646
50,233 50,328
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,588 10,648
Trade creditors 225 2,574
Taxation and social security costs 14,125 19,954
Other creditors 377,278 207,694
402,216 240,870
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 21,801 31,447
7 Other information
SYNERGY LIFESTYLE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Harrow Business Centre,
429-433 Pinner Road,
Harrow,
England,
HA1 4HN
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