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REGISTERED NUMBER: 01006886 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SYNERGY HOLDINGS LIMITED

SYNERGY HOLDINGS LIMITED (REGISTERED NUMBER: 01006886)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SYNERGY HOLDINGS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: P M Brown
H M H Brown
D P Brown





REGISTERED OFFICE: 5th Floor,
Palladium House
1-4 Argyll Street
London
W1F 7TA





REGISTERED NUMBER: 01006886 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

SYNERGY HOLDINGS LIMITED (REGISTERED NUMBER: 01006886)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 1,159 -
Investments 6 11,269,729 10,793,773
11,270,888 10,793,773

CURRENT ASSETS
Debtors 7 7,808 28,259
Cash at bank 403,135 1,043,886
410,943 1,072,145
CREDITORS
Amounts falling due within one year 8 (5,143,013 ) (6,033,694 )
NET CURRENT LIABILITIES (4,732,070 ) (4,961,549 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,538,818

5,832,224

PROVISIONS FOR LIABILITIES 10 (225,000 ) (80,000 )
NET ASSETS 6,313,818 5,752,224

CAPITAL AND RESERVES
Called up share capital 11 100 100
Capital redemption reserve 12 425,000 425,000
Retained earnings 12 5,888,718 5,327,124
SHAREHOLDERS' FUNDS 6,313,818 5,752,224

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.

SYNERGY HOLDINGS LIMITED (REGISTERED NUMBER: 01006886)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by:





H M H Brown - Director


SYNERGY HOLDINGS LIMITED (REGISTERED NUMBER: 01006886)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Synergy Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
At the balance sheet the company had net current liabilities of £4,732,070 which includes amounts of £5,106,500 owed to the directors of the company. The directors have confirmed that they will not seek full repayment of these loan balances to the detriment of the company within 12 months of the date of these accounts. Any partial repayments of the loan balances will be approved by all directors. The financial statements have therefore been prepared on a going concern basis.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long-term liabilities as current assets and liabilities.

Property plant & equipment
Property, plant and equipment are initially measured at cost (or deemed cost) and are subsequently measured at cost or valuation, net of depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings over 4 years
Computer equipment over 4 years

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.


SYNERGY HOLDINGS LIMITED (REGISTERED NUMBER: 01006886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
The financial statements are presented in sterling which is also the the functional currency of the company.

Transactions in currencies other than the functional currency (foreign currencies) are initially recorded at the
exchange rate at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the reporting date.


All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

Investments
Listed investment
Listed investments relate to equity investments and are recognised initially at fair value which is normally the transaction price (but excludes any transaction costs, where the investment is subsequently measured at fair value through profit and loss).

Subsequently, they are measured at fair value through profit or loss except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably which are recognised at cost less impairment until a reliable measure of fair value becomes available. If a reliable measure of fair value is no longer available, the equity instrument’s fair value on the last date the instrument was reliably measurable is treated as the cost of the instrument.

Unlisted investment
Unlisted equity investments which are not subsidiaries, associates or joint ventures whose fair values cannot be measured reliably are measured at cost less impairment.

SYNERGY HOLDINGS LIMITED (REGISTERED NUMBER: 01006886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
Other financial assets
Listed equity investments which are not subsidiaries, associates or joint ventures are initially measured at transaction price and subsequently carried at fair value and the changes in fair value are recognised in profit or loss.

Unlisted equity investments in subsidiaries, associates or joint ventures are measured at cost less impairment.

Bank balances, are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

Other financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities
Trade and other creditors, accruals, director loans and amounts owed to group undertakings are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

Equity instruments
The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

SYNERGY HOLDINGS LIMITED (REGISTERED NUMBER: 01006886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 14,562 - 14,562
Additions - 1,236 1,236
At 31 March 2024 14,562 1,236 15,798
DEPRECIATION
At 1 April 2023 14,562 - 14,562
Charge for year - 77 77
At 31 March 2024 14,562 77 14,639
NET BOOK VALUE
At 31 March 2024 - 1,159 1,159
At 31 March 2023 - - -

6. FIXED ASSET INVESTMENTS
Shares in
group Listed
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 112,472 10,792,773 10,905,245
Additions - 6,098,770 6,098,770
Disposals - (6,331,471 ) (6,331,471 )
Revaluations - 708,657 708,657
At 31 March 2024 112,472 11,268,729 11,381,201
PROVISIONS
At 1 April 2023
and 31 March 2024 111,472 - 111,472
NET BOOK VALUE
At 31 March 2024 1,000 11,268,729 11,269,729
At 31 March 2023 1,000 10,792,773 10,793,773

Cost or valuation at 31 March 2024 is represented by:

Shares in
group Listed
undertakings investments Totals
£    £    £   
Valuation in 2024 - 1,171,688 1,171,688
Cost 112,472 10,097,041 10,209,513
112,472 11,268,729 11,381,201

SYNERGY HOLDINGS LIMITED (REGISTERED NUMBER: 01006886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


6. FIXED ASSET INVESTMENTS - continued

If listed investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 10,097,041 10,474,466

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:


CSTM Limited ( formerly Enterprise Dynamics Limited)
Registered office: 5th Floor, Palladium House, 1-4 Argyll Street, London WF 7TA
Nature of business: Dormant
%
Class of shares: holding
Ordinary shares of £1 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,000 1,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 194 28,259
Directors' loan accounts 7,614 -
7,808 28,259

The director's loan account has cleared within 9 months after the year end.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 1,000 1,000
Corporation tax - 65,000
Social security and other taxes 2,339 287
Directors' loan accounts 5,106,500 5,933,986
Accruals & deferred income 33,174 33,421
5,143,013 6,033,694

Amounts owed to the directors are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

SYNERGY HOLDINGS LIMITED (REGISTERED NUMBER: 01006886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


9. FINANCIAL INSTRUMENTS

The company has the following financial instruments:

2024 2023
£ £
Financial assets at fair value through profit or loss
- Listed investments 11,268,729 10,792,773

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Revaluation of listed investments 225,000 80,000

Deferred
tax
£   
Balance at 1 April 2023 80,000
Provided during year 145,000
Balance at 31 March 2024 225,000

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. RESERVES

The company's profit and loss represents the accumulated far value gains net of deferred tax liability in respect of listed investments totalling £921,568.

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
P M Brown
Balance outstanding at start of year (830,786 ) (833,886 )
Amounts advanced 838,400 3,100
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,614 (830,786 )

The director's loan account has cleared within 9 months after the year end.