2 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 635,000 52,917 127,000 179,917 455,083 582,083 xbrli:pure xbrli:shares iso4217:GBP 06968920 2023-01-01 2023-12-31 06968920 2023-12-31 06968920 2022-12-31 06968920 2022-01-01 2022-12-31 06968920 2022-12-31 06968920 2021-12-31 06968920 core:PlantMachinery 2023-01-01 2023-12-31 06968920 core:MotorVehicles 2023-01-01 2023-12-31 06968920 bus:Director2 2023-01-01 2023-12-31 06968920 core:PlantMachinery 2022-12-31 06968920 core:MotorVehicles 2022-12-31 06968920 core:PlantMachinery 2023-12-31 06968920 core:MotorVehicles 2023-12-31 06968920 core:WithinOneYear 2023-12-31 06968920 core:WithinOneYear 2022-12-31 06968920 core:AfterOneYear 2023-12-31 06968920 core:AfterOneYear 2022-12-31 06968920 core:ShareCapital 2023-12-31 06968920 core:ShareCapital 2022-12-31 06968920 core:RetainedEarningsAccumulatedLosses 2023-12-31 06968920 core:RetainedEarningsAccumulatedLosses 2022-12-31 06968920 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 06968920 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 06968920 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 06968920 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInInvestments 2023-12-31 06968920 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 06968920 core:Non-currentFinancialInstruments 2023-12-31 06968920 core:Non-currentFinancialInstruments 2022-12-31 06968920 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-12-31 06968920 core:PlantMachinery 2022-12-31 06968920 core:MotorVehicles 2022-12-31 06968920 bus:SmallEntities 2023-01-01 2023-12-31 06968920 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06968920 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06968920 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06968920 bus:FullAccounts 2023-01-01 2023-12-31 06968920 core:IntangibleAssetsOtherThanGoodwill 2023-01-01 2023-12-31 06968920 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 06968920 core:IntangibleAssetsOtherThanGoodwill 2022-12-31
COMPANY REGISTRATION NUMBER: 06968920
Symmetry Solutions Limited
Filleted Unaudited Financial Statements
31 December 2023
Symmetry Solutions Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Symmetry Solutions Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
455,083
582,083
Tangible assets
6
242,560
202,087
Investments
7
639,298
849,468
------------
------------
1,336,941
1,633,638
Current assets
Debtors
8
783,630
780,828
Cash at bank and in hand
249,686
421,451
------------
------------
1,033,316
1,202,279
Creditors: amounts falling due within one year
9
( 533,878)
( 809,240)
------------
------------
Net current assets
499,438
393,039
------------
------------
Total assets less current liabilities
1,836,379
2,026,677
Creditors: amounts falling due after more than one year
10
( 28,020)
( 25,362)
Provisions
Taxation including deferred tax
( 10,695)
------------
------------
Net assets
1,808,359
1,990,620
------------
------------
Symmetry Solutions Limited
Balance Sheet (continued)
31 December 2023
2023
2022
Note
£
£
£
£
Capital and reserves
Called up share capital
300
300
Profit and loss account
1,808,059
1,990,320
------------
------------
Shareholders funds
1,808,359
1,990,620
------------
------------
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 profit and loss account 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 27 August 2024 , and are signed on behalf of the board by:
Mr N J A Phillips
Director
Company registration number: 06968920
Symmetry Solutions 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 & Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
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 investments measured at fair value through profit or loss, and in sterling which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, and expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Business acquisitions
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Motor vehicles
-
20% reducing balance
Investments
Listed investments meet the definition of basic financial instruments and are initially recognised at transaction price. Listed investments are subsequently measured at fair value with changes in fair value being recognised in profit or loss.
Other loans meet the definition of a financing transaction, and are initially recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other loans are subsequently measured at amortised cost.
All investments are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Any reversals of impairment are recognised in profit or loss immediately.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution pension plans
Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Intangible assets
Business acquisitions
£
Cost
At 1 January 2023 and 31 December 2023
635,000
---------
Amortisation
At 1 January 2023
52,917
Charge for the year
127,000
---------
At 31 December 2023
179,917
---------
Carrying amount
At 31 December 2023
455,083
---------
At 31 December 2022
582,083
---------
6. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023
19,814
222,903
242,717
Additions
13,836
207,762
221,598
Disposals
( 171,818)
( 171,818)
--------
---------
---------
At 31 December 2023
33,650
258,847
292,497
--------
---------
---------
Depreciation
At 1 January 2023
5,432
35,198
40,630
Charge for the year
6,804
44,504
51,308
Disposals
( 42,001)
( 42,001)
--------
---------
---------
At 31 December 2023
12,236
37,701
49,937
--------
---------
---------
Carrying amount
At 31 December 2023
21,414
221,146
242,560
--------
---------
---------
At 31 December 2022
14,382
187,705
202,087
--------
---------
---------
7. Investments
Shares in participating interests
Listed investments
Other loans
Total
£
£
£
£
Cost or valuation
At 1 January 2023
11,400
642,229
195,839
849,468
Additions
51,359
103,000
154,359
Disposal proceeds and repayments
( 138,163)
( 112,206)
(250,369)
Revaluations
( 122,733)
( 122,733)
Other movements
8,573
8,573
--------
---------
---------
---------
At 31 December 2023
11,400
432,692
195,206
639,298
--------
---------
---------
---------
Impairment
At 1 January 2023 and 31 December 2023
--------
---------
---------
---------
Carrying amount
At 31 December 2023
11,400
432,692
195,206
639,298
--------
---------
---------
---------
At 31 December 2022
11,400
642,229
195,839
849,468
--------
---------
---------
---------
8. Debtors
2023
2022
£
£
Trade debtors
511,133
405,288
Other debtors
272,497
375,540
---------
---------
783,630
780,828
---------
---------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
37,346
47,977
Corporation tax
125,309
195,385
Social security and other taxes
39,625
94,353
Other creditors
331,598
471,525
---------
---------
533,878
809,240
---------
---------
Included with other creditors above are hire purchase liabilities of £52,038 (2022: £27,498) which are secured on the assets to which they relate.
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
28,020
25,362
--------
--------
Included with other creditors above are hire purchase liabilities of £28,020 (2022: £25,362) which are secured on the assets to which they relate.