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REGISTERED NUMBER: 13322327 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Syncro Inc. Limited

Syncro Inc. Limited (Registered number: 13322327)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Syncro Inc. Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S J Merali-Piercy
Miss K A Sammons





REGISTERED OFFICE: Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY





REGISTERED NUMBER: 13322327 (England and Wales)





ACCOUNTANTS: Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY

Syncro Inc. Limited (Registered number: 13322327)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 153,223 97,805

CURRENT ASSETS
Stocks 85,000 82,000
Debtors 5 9,731 2,276
Cash at bank and in hand 16,265 37,138
110,996 121,414
CREDITORS
Amounts falling due within one year 6 157,128 152,096
NET CURRENT LIABILITIES (46,132 ) (30,682 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,091

67,123

CREDITORS
Amounts falling due after more than one
year

7

(12,439

)

(22,121

)

PROVISIONS FOR LIABILITIES (26,782 ) (16,104 )
NET ASSETS 67,870 28,898

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 67,868 28,896
67,870 28,898

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Syncro Inc. Limited (Registered number: 13322327)

Balance Sheet - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:




S J Merali-Piercy - Director



Miss K A Sammons - Director


Syncro Inc. Limited (Registered number: 13322327)

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


1. STATUTORY INFORMATION

Syncro Inc. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 10% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Syncro Inc. Limited (Registered number: 13322327)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 123,912
Additions 83,777
At 31 March 2024 207,689
DEPRECIATION
At 1 April 2023 26,107
Charge for year 28,359
At 31 March 2024 54,466
NET BOOK VALUE
At 31 March 2024 153,223
At 31 March 2023 97,805

Syncro Inc. Limited (Registered number: 13322327)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 56,783
At 31 March 2024 56,783
DEPRECIATION
Charge for year 11,357
At 31 March 2024 11,357
NET BOOK VALUE
At 31 March 2024 45,426

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 8,580 -
Other debtors 1,151 2,276
9,731 2,276

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 55,482
Hire purchase contracts 19,963 -
Trade creditors 20,736 15,359
Taxation and social security 6,673 3,430
Other creditors 99,756 77,825
157,128 152,096

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 12,439 22,121