Company registration number 05092478 (England and Wales)
SYNCHRONICITY SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
SYNCHRONICITY SOLUTIONS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
SYNCHRONICITY SOLUTIONS LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr A B Clark
Secretary
Private Company Registrars Limited
Company number
05092478
Registered office
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Accountants
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
SYNCHRONICITY SOLUTIONS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,890
9,841
Current assets
Debtors
4
354,031
120,293
Cash at bank and in hand
36,037
365,994
390,068
486,287
Creditors: amounts falling due within one year
5
(258,292)
(288,531)
Net current assets
131,776
197,756
Total assets less current liabilities
139,666
207,597
Creditors: amounts falling due after more than one year
6
(24,256)
(42,432)
Provisions for liabilities
(1,972)
(2,460)
Net assets
113,438
162,705
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
113,437
162,704
Total equity
113,438
162,705
SYNCHRONICITY SOLUTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 31 July 2024
Mr A B Clark
Director
Company Registration No. 05092478
The notes on pages 4 to 7 form part of these financial statements
SYNCHRONICITY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Synchronicity Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Courtyard, Shoreham Road, Upper Beeding, Steyning, West Sussex, BN44 3TN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line
Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SYNCHRONICITY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
12
SYNCHRONICITY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2023
15,372
17,606
32,978
Additions
-
0
4,960
4,960
At 31 March 2024
15,372
22,566
37,938
Depreciation and impairment
At 1 April 2023
13,477
9,660
23,137
Depreciation charged in the year
806
6,105
6,911
At 31 March 2024
14,283
15,765
30,048
Carrying amount
At 31 March 2024
1,089
6,801
7,890
At 31 March 2023
1,895
7,946
9,841
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
289,200
35,622
Other debtors
60,935
81,484
Prepayments and accrued income
3,896
3,187
354,031
120,293
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
18,182
18,182
Trade creditors
9,664
9,712
Corporation tax
126,368
130,817
Other taxation and social security
81,239
125,074
Other creditors
20,439
2,146
Accruals and deferred income
2,400
2,600
258,292
288,531
SYNCHRONICITY SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
24,256
42,432

The loan is secured by way of a personal guarantee from the director of the company.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Ordinary share of £1 each
1
1
1
1
9
Parent company

The parent company of Synchronicty Solutions Limited is Synchronicity Group Limited, a company registered in England and Wales.

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