Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Andrew James De Groot 28/06/2021 Charlotte Gillian De Groot 28/06/2021 12 November 2024 The principal activity of the Company during the financial period was that of business coaching. 13481197 2024-03-31 13481197 bus:Director1 2024-03-31 13481197 bus:Director2 2024-03-31 13481197 2023-03-31 13481197 core:CurrentFinancialInstruments 2024-03-31 13481197 core:CurrentFinancialInstruments 2023-03-31 13481197 core:ShareCapital 2024-03-31 13481197 core:ShareCapital 2023-03-31 13481197 core:RetainedEarningsAccumulatedLosses 2024-03-31 13481197 core:RetainedEarningsAccumulatedLosses 2023-03-31 13481197 core:OtherResidualIntangibleAssets 2023-03-31 13481197 core:OtherResidualIntangibleAssets 2024-03-31 13481197 core:ComputerEquipment 2023-03-31 13481197 core:ComputerEquipment 2024-03-31 13481197 bus:OrdinaryShareClass1 2024-03-31 13481197 2023-04-01 2024-03-31 13481197 bus:FilletedAccounts 2023-04-01 2024-03-31 13481197 bus:SmallEntities 2023-04-01 2024-03-31 13481197 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13481197 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13481197 bus:Director1 2023-04-01 2024-03-31 13481197 bus:Director2 2023-04-01 2024-03-31 13481197 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-04-01 2024-03-31 13481197 core:ComputerEquipment core:TopRangeValue 2023-04-01 2024-03-31 13481197 2022-04-01 2023-03-31 13481197 core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 13481197 core:ComputerEquipment 2023-04-01 2024-03-31 13481197 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13481197 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13481197 (England and Wales)

SYNERGETIC COACHING LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

SYNERGETIC COACHING LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SYNERGETIC COACHING LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
SYNERGETIC COACHING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 46,102 52,402
Tangible assets 4 3,947 3,558
50,049 55,960
Current assets
Debtors 5 32,349 22,489
Cash at bank and in hand 48,111 33,985
80,460 56,474
Creditors: amounts falling due within one year 6 ( 114,562) ( 108,557)
Net current liabilities (34,102) (52,083)
Total assets less current liabilities 15,947 3,877
Provision for liabilities ( 750) ( 676)
Net assets 15,197 3,201
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account 15,196 3,200
Total shareholder's funds 15,197 3,201

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Synergetic Coaching Limited (registered number: 13481197) were approved and authorised for issue by the Board of Directors on 12 November 2024. They were signed on its behalf by:

Andrew James De Groot
Director
SYNERGETIC COACHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SYNERGETIC COACHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Synergetic Coaching Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 3

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2023 63,000 63,000
At 31 March 2024 63,000 63,000
Accumulated amortisation
At 01 April 2023 10,598 10,598
Charge for the financial year 6,300 6,300
At 31 March 2024 16,898 16,898
Net book value
At 31 March 2024 46,102 46,102
At 31 March 2023 52,402 52,402

4. Tangible assets

Computer equipment Total
£ £
Cost
At 01 April 2023 5,690 5,690
Additions 2,626 2,626
Disposals ( 650) ( 650)
At 31 March 2024 7,666 7,666
Accumulated depreciation
At 01 April 2023 2,132 2,132
Charge for the financial year 1,831 1,831
Disposals ( 244) ( 244)
At 31 March 2024 3,719 3,719
Net book value
At 31 March 2024 3,947 3,947
At 31 March 2023 3,558 3,558

5. Debtors

2024 2023
£ £
Trade debtors 17,611 6,422
Prepayments 3,145 5,944
VAT recoverable 18 0
Other debtors 11,575 10,123
32,349 22,489

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 2,982 444
Amounts owed to directors 95,651 101,257
Accruals and deferred income 4,765 2,410
Taxation and social security 9,636 4,325
Other creditors 1,528 121
114,562 108,557

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 95,651 101,257

Interest is being charged on the loan at 10% per annum.