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REGISTERED NUMBER: 08346766 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Synergy Automotive Electronics Limited

Synergy Automotive Electronics Limited (Registered number: 08346766)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Synergy Automotive Electronics Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: N Oakland





SECRETARY:





REGISTERED OFFICE: Unit 3C
Tall Trees Estate
Welsh Way
Bagendon
Gloucestershire
GL7 7JE





REGISTERED NUMBER: 08346766 (England and Wales)





ACCOUNTANTS: Brooklyn Consultancy Ltd
Chartered Accountants
Newstones
Park Road
Nailsworth
Gloucestershire
GL6 0HZ

Synergy Automotive Electronics Limited (Registered number: 08346766)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,905 60,817

CURRENT ASSETS
Stocks 205,518 179,999
Debtors 5 156,885 198,868
Cash at bank 19,619 19,701
382,022 398,568
CREDITORS
Amounts falling due within one year 6 86,797 107,317
NET CURRENT ASSETS 295,225 291,251
TOTAL ASSETS LESS CURRENT
LIABILITIES

342,130

352,068

PROVISIONS FOR LIABILITIES 8,276 11,929
NET ASSETS 333,854 340,139

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 333,754 340,039
SHAREHOLDERS' FUNDS 333,854 340,139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Synergy Automotive Electronics Limited (Registered number: 08346766)

Balance Sheet - continued
30 April 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 August 2024 and were signed by:





N Oakland - Director


Synergy Automotive Electronics Limited (Registered number: 08346766)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Synergy Automotive Electronics 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 etc - 25% 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.

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.

Synergy Automotive Electronics Limited (Registered number: 08346766)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 156,279
Additions 1,722
At 30 April 2024 158,001
DEPRECIATION
At 1 May 2023 95,462
Charge for year 15,634
At 30 April 2024 111,096
NET BOOK VALUE
At 30 April 2024 46,905
At 30 April 2023 60,817

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 130,008 197,640
Other debtors 26,877 1,228
156,885 198,868

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts - 6,250
Other loans 6,650 12,350
Trade creditors 30,690 25,337
Tax 7,919 14,462
Social security and other taxes 4,197 3,079
VAT 34,076 43,021
Other creditors 56 56
Directors' current accounts 727 62
Accrued expenses 2,482 2,700
86,797 107,317