SYNCOLINE LIMITED

Company Registration Number:
03993294 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

SYNCOLINE LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

SYNCOLINE LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 220 220
Tangible assets: 4 75,042 85,383
Investments: 5 9,333 9,333
Total fixed assets: 84,595 94,936
Current assets
Stocks: 1,073,047 855,660
Debtors:   1,922,395 1,463,472
Cash at bank and in hand: 267,130 266,301
Total current assets: 3,262,572 2,585,433
Creditors: amounts falling due within one year:   (592,475) (375,479)
Net current assets (liabilities): 2,670,097 2,209,954
Total assets less current liabilities: 2,754,692 2,304,890
Provision for liabilities: (18,761) (16,223)
Total net assets (liabilities): 2,735,931 2,288,667
Capital and reserves
Called up share capital: 782 782
Other reserves: (66,917) (66,917)
Profit and loss account: 2,802,066 2,354,802
Shareholders funds: 2,735,931 2,288,667

The notes form part of these financial statements

SYNCOLINE LIMITED

Balance sheet statements

For the year ending 31 March 2024 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 03 September 2024
and signed on behalf of the board by:

Name: S Cleland
Status: Director

The notes form part of these financial statements

SYNCOLINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

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 total invoice value, excluding value added tax, of sales made in the year and derives from the provision of goods and services falling within the ordinary activities of the company.

Tangible fixed assets and depreciation policy

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:- Plant and machinery - 20% reducing balance method Fixtures & fittings - 25% reducing balance method Motor vehicles - 25% reducing balance method

Intangible fixed assets and amortisation policy

Nil

SYNCOLINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 12 10

SYNCOLINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Intangible Assets

Total
Cost £
At 01 April 2023 220
At 31 March 2024 220
Net book value
At 31 March 2024 220
At 31 March 2023 220

SYNCOLINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible Assets

Total
Cost £
At 01 April 2023 173,171
Additions 9,623
At 31 March 2024 182,794
Depreciation
At 01 April 2023 87,788
Charge for year 19,964
At 31 March 2024 107,752
Net book value
At 31 March 2024 75,042
At 31 March 2023 85,383

SYNCOLINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Fixed investments

Shares held in French subsidiary £9,333

SYNCOLINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Loans to directors

Name of director receiving advance or credit: S Cleland
Description of the loan: Directors loan account
£
Balance at 01 April 2023 28,623
Advances or credits repaid: 372
Balance at 31 March 2024 28,251
Name of director receiving advance or credit: K Smoter
Description of the loan: Directors loan account
£
Balance at 01 April 2023 60,112
Advances or credits repaid: 476
Balance at 31 March 2024 59,636

SYNCOLINE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Related party transactions

Name of the related party: Myriad Self-Storage Ltd
Relationship:
Directors in common
Description of the Transaction: Company loan.
£
Balance at 01 April 2023 545,413
Balance at 31 March 2024 745,413
Name of the related party: Steven Layn Holdings Ltd
Relationship:
Director in common
Description of the Transaction: Company loan.
£
Balance at 01 April 2023 30,000
Balance at 31 March 2024 30,000
Name of the related party: Myriad Ltd Fr
Relationship:
Subsidiary
Description of the Transaction: Trade debt owed.
£
Balance at 01 April 2023 274,262
Balance at 31 March 2024 62,317