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COMPANY REGISTRATION NUMBER: 10731185
Syncrtc Limited
Filleted Unaudited Financial Statements
31 December 2023
Syncrtc Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Debtors
5
203,437
203,327
Cash at bank and in hand
1,779
---------
---------
203,437
205,106
Creditors: amounts falling due within one year
6
286,448
283,769
---------
---------
Net current liabilities
83,011
78,663
--------
--------
Total assets less current liabilities
( 83,011)
( 78,663)
--------
--------
Net liabilities
( 83,011)
( 78,663)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 83,012)
( 78,664)
--------
--------
Shareholders deficit
( 83,011)
( 78,663)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 August 2024 , and are signed on behalf of the board by:
S Flavell
Director
Company registration number: 10731185
Syncrtc Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 52 Tabernacle Street, London, EC2A 4NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is in a net liability position. The directors believe that as the company continues to pay its suppliers as they fall due and continues to have support of it's parent company, the company should be prepared on a going concern basis.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
203,311
203,311
Other debtors
126
16
---------
---------
203,437
203,327
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,740
Amounts owed to group undertakings and undertakings in which the company has a participating interest
283,648
280,919
Other creditors
2,800
1,110
---------
---------
286,448
283,769
---------
---------
7. Related party transactions
At the 31 December Syncrtc Limited owed £283,648 (2022: £280,919) to companies under common control and was owed £203,311 (2022: £203,311) by a company under common control.