Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04344071 Mr Sandeep Kapur Mrs Sheila Patel Mr Sandeep Kapur iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04344071 2022-12-31 04344071 2023-12-31 04344071 2023-01-01 2023-12-31 04344071 frs-core:CurrentFinancialInstruments 2023-12-31 04344071 frs-core:Non-currentFinancialInstruments 2023-12-31 04344071 frs-core:ComputerEquipment 2023-12-31 04344071 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04344071 frs-core:ComputerEquipment 2022-12-31 04344071 frs-core:PlantMachinery 2023-12-31 04344071 frs-core:PlantMachinery 2023-01-01 2023-12-31 04344071 frs-core:PlantMachinery 2022-12-31 04344071 frs-core:ShareCapital 2023-12-31 04344071 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04344071 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04344071 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04344071 frs-bus:SmallEntities 2023-01-01 2023-12-31 04344071 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04344071 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04344071 frs-bus:Director1 2023-01-01 2023-12-31 04344071 frs-bus:Director2 2023-01-01 2023-12-31 04344071 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 04344071 frs-countries:EnglandWales 2023-01-01 2023-12-31 04344071 2021-12-31 04344071 2022-12-31 04344071 2022-01-01 2022-12-31 04344071 frs-core:CurrentFinancialInstruments 2022-12-31 04344071 frs-core:Non-currentFinancialInstruments 2022-12-31 04344071 frs-core:ShareCapital 2022-12-31 04344071 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04344071
Synchronized Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04344071
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,162 3,757
2,162 3,757
CURRENT ASSETS
Debtors 5 8,635 31,454
Cash at bank and in hand 79,962 25,303
88,597 56,757
Creditors: Amounts Falling Due Within One Year 6 (71,234 ) (22,959 )
NET CURRENT ASSETS (LIABILITIES) 17,363 33,798
TOTAL ASSETS LESS CURRENT LIABILITIES 19,525 37,555
Creditors: Amounts Falling Due After More Than One Year 7 (18,900 ) (35,700 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (432 ) (792 )
NET ASSETS 193 1,063
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 93 963
SHAREHOLDERS' FUNDS 193 1,063
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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 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.
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 Sandeep Kapur
Director
25/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Synchronized Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04344071 . The registered office is 7 Forest Way, Loughton, Essex, IG10 1JG.
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.
2.3. 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% WDV
Computer Equipment 15% WDV
2.4. 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 in respect of all timing differences that have originated but not reversed at the balance
sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.
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.
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: 3 (2022: 3)
3 3
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 511 5,732 6,243
Additions - 1,930 1,930
Disposals - (4,757 ) (4,757 )
As at 31 December 2023 511 2,905 3,416
Depreciation
As at 1 January 2023 457 2,029 2,486
Provided during the period 8 374 382
Disposals - (1,614 ) (1,614 )
As at 31 December 2023 465 789 1,254
Net Book Value
As at 31 December 2023 46 2,116 2,162
As at 1 January 2023 54 3,703 3,757
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 8,635 8,625
Directors' loan accounts - 22,829
8,635 31,454
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,501 1,301
Bank loans and overdrafts 8,400 -
Corporation tax 11,549 15,761
Other taxes and social security - 23
VAT 6,061 5,874
Directors' loan accounts 43,723 -
71,234 22,959
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7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 18,900 35,700
18,900 35,700
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
Included in the Other Creditors is an amount owed to the company director Mr S Kapur totalling £43,723 (2022 - £22,829 Debtor), no interest is to be charged.
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