SYNCNET LIMITED

Company Registration Number:
07418453 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 01 November 2022

End date: 31 October 2023

SYNCNET LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

SYNCNET LIMITED

Company Information

for the Period Ended 31 October 2023




Director: Ayodeji Olakolu
Registered office: 196
Wythenshawe Road
Manchester
England
M23 0PF
Company Registration Number: 07418453 (England and Wales)

SYNCNET LIMITED

Directors' Report Period Ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Principal Activities

General IT Support and Consultancy Services

Directors

The director(s) shown below were appointed to the company during the period
Ayodeji Olakolu
01 November 2022

This report was approved by the board of directors on 30 August 2024
And Signed On Behalf Of The Board By:

Name: Ayodeji Olakolu
Status: Director

SYNCNET LIMITED

Profit and Loss Account

for the Period Ended 31 October 2023


Notes

2023
£

2022
£
Turnover 117,647 102,768
Gross Profit or (Loss) 117,647 102,768
Administrative Expenses ( 108,274 ) ( 88,019 )
Operating Profit or (Loss) 9,373 14,749
Profit or (Loss) Before Tax 9,373 14,749
Tax on Profit ( 1,781 ) ( 2,802 )
Profit or (Loss) for Period 7,592 11,947

The notes form part of these financial statements

SYNCNET LIMITED

Balance sheet

As at 31 October 2023


Notes

2023
£

2022
£
Fixed assets
Total fixed assets: - -
Current assets
Debtors: 4 46,503 52,778
Cash at bank and in hand: 21,101 2
Total current assets: 67,604 52,780
Creditors: amounts falling due within one year: 5 ( 40,956 ) ( 33,725 )
Net current assets (liabilities): 26,648 19,055
Total assets less current liabilities: 26,648 19,055
Creditors: amounts falling due after more than one year: 6 ( 17,389 ) ( 17,389 )
Total net assets (liabilities): 9,259 1,666

The notes form part of these financial statements

SYNCNET LIMITED

Balance sheet continued

As at 31 October 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 9,159 1,566
Shareholders funds: 9,259 1,666

For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

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

This report was approved by the board of directors on 30 August 2024
And Signed On Behalf Of The Board By:

Name: Ayodeji Olakolu
Status: Director

The notes form part of these financial statements

SYNCNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts

SYNCNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 1 1

SYNCNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 3. Off balance sheet disclosure

    No

SYNCNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Debtors


2023
£

2022
£
Other debtors 46,503 52,778
Total 46,503 52,778

SYNCNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

5.Creditors: amounts falling due within one year note


2023
£

2022
£
Taxation and social security 14,460 12,679
Accruals and deferred income 3,250 2,500
Other creditors 23,246 18,546
Total 40,956 33,725

SYNCNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

6.Creditors: amounts falling due after more than one year


2023
£

2022
£
Bank loans and overdrafts 17,389 17,389
Total 17,389 17,389