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REGISTERED NUMBER: 06088120 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Synergy Audio Visual Ltd

Synergy Audio Visual Ltd (Registered number: 06088120)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Synergy Audio Visual Ltd (Registered number: 06088120)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,066 42,574

CURRENT ASSETS
Stocks 5 90,000 65,000
Debtors 6 172,764 105,930
Cash at bank 86,263 62,283
349,027 233,213
CREDITORS
Amounts falling due within one year 7 208,683 131,867
NET CURRENT ASSETS 140,344 101,346
TOTAL ASSETS LESS CURRENT LIABILITIES 164,410 143,920

CREDITORS
Amounts falling due after more than one year 8 (15,419 ) (37,422 )

PROVISIONS FOR LIABILITIES (1,788 ) (6,213 )
NET ASSETS 147,203 100,285

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 147,103 100,185
SHAREHOLDERS' FUNDS 147,203 100,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:




Mr J Martin - Director


Synergy Audio Visual Ltd (Registered number: 06088120)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Synergy Audio Visual Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06088120

Registered office: 5 Martin's Court
West Street
Congleton
Cheshire
CW12 1JR

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 2% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - Straight line over 3 years

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Synergy Audio Visual Ltd (Registered number: 06088120)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2023 6,714 14,673 38,191
Additions - 1,305 -
Disposals - - -
At 31 March 2024 6,714 15,978 38,191
DEPRECIATION
At 1 April 2023 237 14,673 26,547
Charge for year 134 435 2,911
Eliminated on disposal - - -
At 31 March 2024 371 15,108 29,458
NET BOOK VALUE
At 31 March 2024 6,343 870 8,733
At 31 March 2023 6,477 - 11,644

Synergy Audio Visual Ltd (Registered number: 06088120)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 91,175 18,454 169,207
Additions 857 2,593 4,755
Disposals (2,500 ) - (2,500 )
At 31 March 2024 89,532 21,047 171,462
DEPRECIATION
At 1 April 2023 70,064 15,112 126,633
Charge for year 13,845 4,063 21,388
Eliminated on disposal (625 ) - (625 )
At 31 March 2024 83,284 19,175 147,396
NET BOOK VALUE
At 31 March 2024 6,248 1,872 24,066
At 31 March 2023 21,111 3,342 42,574

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 54,520
DEPRECIATION
At 1 April 2023 35,284
Charge for year 13,630
At 31 March 2024 48,914
NET BOOK VALUE
At 31 March 2024 5,606
At 31 March 2023 19,236

5. STOCKS
2024 2023
£    £   
Stocks 15,000 5,000
Work-in-progress 75,000 60,000
90,000 65,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 152,237 81,811
Other debtors 20,527 24,119
172,764 105,930

Synergy Audio Visual Ltd (Registered number: 06088120)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,682 4,682
Hire purchase contracts 17,668 7,152
Trade creditors 67,817 35,077
Taxation and social security 70,452 46,587
Other creditors 48,064 38,369
208,683 131,867

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 6,200 10,535
Hire purchase contracts 9,219 26,887
15,419 37,422

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 26,887 34,039

The hire purchase contract creditor is secured on the asset to which it relates.

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included within the balance sheet amount to £14,853 (2023 £Nil). This financial commitment represents the total amount of payments remaining on leases ending in 2028.