Acorah Software Products - Accounts Production 15.0.600 false true true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 13190616 Mr Venkateswara Reddy Ramireddy Mr Sameer Khan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13190616 2023-02-28 13190616 2024-02-28 13190616 2023-03-01 2024-02-28 13190616 frs-core:Non-currentFinancialInstruments 2024-02-28 13190616 frs-core:FurnitureFittings 2024-02-28 13190616 frs-core:FurnitureFittings 2023-03-01 2024-02-28 13190616 frs-core:FurnitureFittings 2023-02-28 13190616 frs-core:NetGoodwill 2024-02-28 13190616 frs-core:NetGoodwill 2023-03-01 2024-02-28 13190616 frs-core:NetGoodwill 2023-02-28 13190616 frs-core:ShareCapital 2024-02-28 13190616 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 13190616 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 13190616 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 13190616 frs-bus:SmallEntities 2023-03-01 2024-02-28 13190616 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 13190616 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 13190616 frs-bus:Director1 2023-03-01 2024-02-28 13190616 frs-bus:Director2 2023-03-01 2024-02-28 13190616 frs-countries:EnglandWales 2023-03-01 2024-02-28 13190616 2022-02-28 13190616 2023-02-28 13190616 2022-03-01 2023-02-28 13190616 frs-core:Non-currentFinancialInstruments 2023-02-28 13190616 frs-core:ShareCapital 2023-02-28 13190616 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 13190616
SYNERGY FRESH LTD
Unaudited Financial Statements
For The Year Ended 28 February 2024
AMCI ASSOCIATES LTD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13190616
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 114,776 121,153
Tangible Assets 5 6,001 8,334
120,777 129,487
CURRENT ASSETS
Stocks 86,900 45,550
Cash at bank and in hand 14,612 33,097
101,512 78,647
Creditors: Amounts Falling Due Within One Year (14,814 ) (21,954 )
NET CURRENT ASSETS (LIABILITIES) 86,698 56,693
TOTAL ASSETS LESS CURRENT LIABILITIES 207,475 186,180
Creditors: Amounts Falling Due After More Than One Year 6 (184,169 ) (164,144 )
NET ASSETS 23,306 22,036
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 23,206 21,936
SHAREHOLDERS' FUNDS 23,306 22,036
Page 1
Page 2
For the year ending 28 February 2024 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 Venkateswara Reddy Ramireddy
Director
Mr Sameer Khan
Director
15/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SYNERGY FRESH LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13190616 . The registered office is 24 Hull Lane, Bicester, OX25 2BN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.5. 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:
Fixtures & Fittings 20%
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.
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.
...CONTINUED
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2.7. Taxation - continued
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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 6)
5 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 127,530
As at 28 February 2024 127,530
Amortisation
As at 1 March 2023 6,377
Provided during the period 6,377
As at 28 February 2024 12,754
Net Book Value
As at 28 February 2024 114,776
As at 1 March 2023 121,153
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 March 2023 11,667
As at 28 February 2024 11,667
Depreciation
As at 1 March 2023 3,333
Provided during the period 2,333
As at 28 February 2024 5,666
Net Book Value
As at 28 February 2024 6,001
As at 1 March 2023 8,334
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Page 5
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 13,000 13,000
Directors loan account 171,169 151,144
184,169 164,144
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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