Registered number
04119130
Synergy 1808 Ltd
Filleted Accounts
31 December 2023
Synergy 1808 Ltd
Registered number: 04119130
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 4,993 8,312
Current assets
Stocks 3,717 3,672
Debtors 5 2,500 2,500
Cash at bank and in hand 454,167 408,205
460,384 414,377
Creditors: amounts falling due within one year 6 (171,062) (111,752)
Net current assets 289,322 302,625
Net assets 294,315 310,937
Capital and reserves
Called up share capital 2 2
Profit and loss account 294,313 310,935
Shareholder's funds 294,315 310,937
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 member has 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.
S Wright
Director
Approved by the board on 10 August 2024
Synergy 1808 Ltd
Notes to the Accounts
for the year ended 31 December 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Property Improvements over the term of the lease
Fixtures, fittings & equipment 12.5% straight line
Motor vehicles 25% wdv
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 15,417
At 31 December 2023 15,417
Amortisation
At 1 January 2023 15,417
At 31 December 2023 15,417
Net book value
At 31 December 2023 -
Franchise Agreement is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 66,842 154,491 6,165 227,498
At 31 December 2023 66,842 154,491 6,165 227,498
Depreciation
At 1 January 2023 66,842 146,179 6,165 219,186
Charge for the year - 3,319 - 3,319
At 31 December 2023 66,842 149,498 6,165 222,505
Net book value
At 31 December 2023 - 4,993 - 4,993
At 31 December 2022 - 8,312 - 8,312
5 Debtors 2023 2022
£ £
Other debtors 2,500 2,500
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 24,081 29,767
Amounts owed to group undertakings and undertakings in which the company has a participating interest 125,874 52,462
Taxation and social security costs 13,709 20,982
Other creditors 7,398 8,541
171,062 111,752
7 Other information
Synergy 1808 Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Wesley House, 4 Charles Hankin Close, Ivybridge, Devon, PL21 5WF
8 Related Party Transactions 2023 2022
£ £
The company is ultimately under the control of its directors
The amount due to Capitalrange Ltd and Kernow Koffi Ltd was 125,874 52,462
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