Cynergi Cleaning & Support Services Limited 05725284 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of the supply of commercial cleaning services. Digita Accounts Production Advanced 6.30.9574.0 true 05725284 2023-04-01 2024-03-31 05725284 2024-03-31 05725284 bus:Director1 1 2024-03-31 05725284 bus:OrdinaryShareClass1 bus:OtherShareType 2024-03-31 05725284 bus:OrdinaryShareClass2 bus:OtherShareType 2024-03-31 05725284 2 2024-03-31 05725284 core:CurrentFinancialInstruments 2024-03-31 05725284 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05725284 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05725284 core:BetweenTwoFiveYears 2024-03-31 05725284 core:WithinOneYear 2024-03-31 05725284 core:FurnitureFittingsToolsEquipment 2024-03-31 05725284 core:MotorVehicles 2024-03-31 05725284 core:OtherPropertyPlantEquipment 2024-03-31 05725284 bus:SmallEntities 2023-04-01 2024-03-31 05725284 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05725284 bus:FullAccounts 2023-04-01 2024-03-31 05725284 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05725284 bus:RegisteredOffice 2023-04-01 2024-03-31 05725284 bus:Director1 2023-04-01 2024-03-31 05725284 bus:Director1 1 2023-04-01 2024-03-31 05725284 bus:Director2 2023-04-01 2024-03-31 05725284 bus:OrdinaryShareClass1 bus:OtherShareType 2023-04-01 2024-03-31 05725284 bus:OrdinaryShareClass2 bus:OtherShareType 2023-04-01 2024-03-31 05725284 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05725284 core:FurnitureFittings 2023-04-01 2024-03-31 05725284 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05725284 core:MotorVehicles 2023-04-01 2024-03-31 05725284 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 05725284 core:PlantMachinery 2023-04-01 2024-03-31 05725284 countries:England 2023-04-01 2024-03-31 05725284 2023-03-31 05725284 bus:Director1 1 2023-03-31 05725284 core:FurnitureFittingsToolsEquipment 2023-03-31 05725284 core:MotorVehicles 2023-03-31 05725284 core:OtherPropertyPlantEquipment 2023-03-31 05725284 2022-04-01 2023-03-31 05725284 2023-03-31 05725284 bus:OrdinaryShareClass1 bus:OtherShareType 2023-03-31 05725284 bus:OrdinaryShareClass2 bus:OtherShareType 2023-03-31 05725284 2 2023-03-31 05725284 core:CurrentFinancialInstruments 2023-03-31 05725284 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05725284 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05725284 core:BetweenTwoFiveYears 2023-03-31 05725284 core:WithinOneYear 2023-03-31 05725284 core:FurnitureFittingsToolsEquipment 2023-03-31 05725284 core:MotorVehicles 2023-03-31 05725284 core:OtherPropertyPlantEquipment 2023-03-31 05725284 1 2023-03-31 05725284 1 2022-04-01 2023-03-31 05725284 1 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05725284

Cynergi Cleaning & Support Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

image-name
 

Cynergi Cleaning & Support Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Cynergi Cleaning & Support Services Limited

Company Information

Directors

Mr Ian David Hotston

Mr John Peter Goodwin

Registered office

83 Springfield Road
Chelmsford
Essex
CM2 6JL

Accountants

Viewpoint Accountants Ltd
Saxon House 27 Duke Street
Chelmsford
Essex
CM1 1HT

 

Cynergi Cleaning & Support Services Limited

(Registration number: 05725284)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

4,429

5,537

Other financial assets

2

2

 

4,431

5,539

Current assets

 

Stocks

6

267,722

248,937

Debtors

7

2,259,617

2,276,514

Cash at bank and in hand

 

37,253

12,214

 

2,564,592

2,537,665

Creditors: Amounts falling due within one year

8

(1,879,030)

(1,804,150)

Net current assets

 

685,562

733,515

Total assets less current liabilities

 

689,993

739,054

Creditors: Amounts falling due after more than one year

8

(13,083)

-

Net assets

 

676,910

739,054

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

675,910

738,054

Shareholders' funds

 

676,910

739,054

 

Cynergi Cleaning & Support Services Limited

(Registration number: 05725284)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
Mr Ian David Hotston
Director

.........................................
Mr John Peter Goodwin
Director

 

Cynergi Cleaning & Support Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
83 Springfield Road
Chelmsford
Essex
CM2 6JL

These financial statements were authorised for issue by the Board on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Cynergi Cleaning & Support Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Other tangible assets

20% reducing balance

Furniture, fittings & equipment

20% reducing balance

Motor vehicles

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Cynergi Cleaning & Support Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract
that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares
are issued, any component that creates a financial liability of the company is presented as a liability in the
balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in
the profit and loss account.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 354 (2023 - 328).

 

Cynergi Cleaning & Support Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,108

1,384

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

8,585

9,897

36,669

55,151

At 31 March 2024

8,585

9,897

36,669

55,151

Depreciation

At 1 April 2023

8,198

9,370

32,046

49,614

Charge for the year

78

105

925

1,108

At 31 March 2024

8,276

9,475

32,971

50,722

Carrying amount

At 31 March 2024

309

422

3,698

4,429

At 31 March 2023

387

527

4,623

5,537

6

Stocks

2024
£

2023
£

Raw materials and consumables

17,200

14,746

Work in progress

250,522

234,191

267,722

248,937

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

1,186,557

1,153,722

Amounts owed by related parties

11

-

96,162

Other debtors

 

877,645

822,384

Prepayments

 

4,500

13,331

Income tax asset

190,915

190,915

 

2,259,617

2,276,514

 

Cynergi Cleaning & Support Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

586,576

383,185

Trade creditors

 

413,927

366,840

Taxation and social security

 

539,178

763,253

Other creditors

 

339,349

290,872

 

1,879,030

1,804,150

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

13,083

-

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

667

667

667

667

Ordinary B shares of £1 each

333

333

333

333

 

1,000

1,000

1,000

1,000

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

42,907

-

Later than one year and not later than five years

81,579

-

124,486

-

 

Cynergi Cleaning & Support Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

11

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

Directors' loan

814,960

33,351

848,311

       
     

 

2023

At 1 April 2022
£

Advances to director
£

At 31 March 2023
£

Directors' loan

655,043

159,917

814,960