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Registered number: 03229262
Synthotech Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Advoco (SW) Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03229262
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 51,576 43,462
Tangible Assets 5 193,370 134,182
Investments 6 366,847 122,500
611,793 300,144
CURRENT ASSETS
Stocks 7 2,271,027 1,850,675
Debtors 8 995,370 768,647
Cash at bank and in hand 222,337 94,221
3,488,734 2,713,543
Creditors: Amounts Falling Due Within One Year 9 (927,988 ) (736,361 )
NET CURRENT ASSETS (LIABILITIES) 2,560,746 1,977,182
TOTAL ASSETS LESS CURRENT LIABILITIES 3,172,539 2,277,326
Creditors: Amounts Falling Due After More Than One Year 10 (694,614 ) (312,571 )
NET ASSETS 2,477,925 1,964,755
CAPITAL AND RESERVES
Called up share capital 12 211,100 100
Profit and Loss Account 2,266,825 1,964,655
SHAREHOLDERS' FUNDS 2,477,925 1,964,755
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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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Tindley
Director
4 March 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Synthotech Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03229262 . The registered office is Milner Court Hornbeam Square South, Hornbeam Park, Harrogate, North Yorkshire, HG2 8NB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% straight line
Motor Vehicles 17% straight line
Fixtures & Fittings 15% straight line
Computer Equipment 25% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 35 (2022: 35)
35 35
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 January 2023 61,168
Additions 19,633
As at 31 December 2023 80,801
Amortisation
As at 1 January 2023 17,706
Provided during the period 11,519
As at 31 December 2023 29,225
Net Book Value
As at 31 December 2023 51,576
As at 1 January 2023 43,462
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 485,922 180,661 337,409 238,649 1,242,641
Additions 5,289 84,035 11,908 15,914 117,146
As at 31 December 2023 491,211 264,696 349,317 254,563 1,359,787
Depreciation
As at 1 January 2023 409,583 145,985 320,320 232,571 1,108,459
Provided during the period 23,908 22,043 4,592 7,415 57,958
As at 31 December 2023 433,491 168,028 324,912 239,986 1,166,417
Net Book Value
As at 31 December 2023 57,720 96,668 24,405 14,577 193,370
As at 1 January 2023 76,339 34,676 17,089 6,078 134,182
6. Investments
Subsidiaries
£
Cost
As at 1 January 2023 122,500
Additions 250,747
As at 31 December 2023 373,247
Provision
As at 1 January 2023 -
Impairment losses 6,400
As at 31 December 2023 6,400
Net Book Value
As at 31 December 2023 366,847
As at 1 January 2023 122,500
7. Stocks
2023 2022
£ £
Stock 2,271,027 1,850,675
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8. Debtors
2023 2022
£ £
Due within one year
Trade debtors 631,129 433,968
Prepayments and accrued income 148,687 214,473
Other debtors 2,839 660
Other loan 99,683 -
Corporation tax recoverable assets 113,032 119,546
995,370 768,647
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 398,944 346,309
Bank loans and overdrafts 347,980 175,584
Social security and other tax 24,927 18,878
VAT 66,989 74,543
Other creditor 8,028 40,136
Accrued expenses 53,315 33,106
Director's loan account 27,805 47,805
927,988 736,361
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 48,433 42,821
Bank loans 646,181 269,750
694,614 312,571
11. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 48,433 42,821
12. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 211,100 100
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