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Company Registration No. 13336882 (England and Wales)
Synergy Gate Automation and Barriers Limited Unaudited accounts for the year ended 30 April 2024
Synergy Gate Automation and Barriers Limited Unaudited accounts Contents
Page
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Synergy Gate Automation and Barriers Limited Company Information for the year ended 30 April 2024
Director
Oliver Ridgwick
Company Number
13336882 (England and Wales)
Registered Office
8 Percy Street Rotherham South Yorkshire S65 1ED
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Synergy Gate Automation and Barriers Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
83,328 
15,579 
Current assets
Debtors
77,850 
62,415 
Cash at bank and in hand
95,215 
20,268 
173,065 
82,683 
Creditors: amounts falling due within one year
(81,202)
(46,136)
Net current assets
91,863 
36,547 
Total assets less current liabilities
175,191 
52,126 
Creditors: amounts falling due after more than one year
(36,969)
- 
Provisions for liabilities
Deferred tax
(16,022)
(1,249)
Net assets
122,200 
50,877 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
122,198 
50,875 
Shareholders' funds
122,200 
50,877 
For the year ending 30 April 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 January 2025 and were signed on its behalf by
Oliver Ridgwick Director Company Registration No. 13336882
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Synergy Gate Automation and Barriers Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Synergy Gate Automation and Barriers Limited is a private company, limited by shares, registered in England and Wales, registration number 13336882. The registered office is 8 Percy Street, Rotherham, South Yorkshire, S65 1ED.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard. In prior years, accounts for this company have been prepared in accordance with the provisions of FRS 105, The Financial Reporting Standard applicable to the Micro-entities Regime. Whilst still eligible to prepare accounts in accordance with the provisions of FRS 105 this year, a decision has been made to change reporting standard due to the current and anticipated future growth of the company. The comparable year's accounts have been restated to comply with the requirements of FRS 102 Section 1A.
3
Accounting policies
These financial statements for the year ended 30 April 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 May 2022
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are prepared in sterling, which is this functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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 current liabilities.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.33% straight line
Motor vehicles
20% reducing balance
Computer equipment
25% reducing balance
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Synergy Gate Automation and Barriers Limited Notes to the Accounts for the year ended 30 April 2024
Deferred taxation
Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantive enacted by the reporting end 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 accounts. 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.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2023
3,016 
13,500 
2,565 
19,081 
Additions
4,231 
72,289 
- 
76,520 
At 30 April 2024
7,247 
85,789 
2,565 
95,601 
Depreciation
At 1 May 2023
564 
2,400 
538 
3,502 
Charge for the year
1,650 
6,639 
482 
8,771 
At 30 April 2024
2,214 
9,039 
1,020 
12,273 
Net book value
At 30 April 2024
5,033 
76,750 
1,545 
83,328 
At 30 April 2023
2,452 
11,100 
2,027 
15,579 
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Synergy Gate Automation and Barriers Limited Notes to the Accounts for the year ended 30 April 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
5,180 
6,492 
Trade debtors
31,947 
2,490 
Accrued income and prepayments
40,286 
52,963 
Other debtors
437 
470 
77,850 
62,415 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
9,825 
- 
Trade creditors
49,856 
44,805 
Taxes and social security
23,673 
5,314 
Other creditors
800 
- 
Loans from directors
(2,952)
(3,983)
81,202 
46,136 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
36,969 
- 
Vehicles on Hire Purchase agreement are used as security and backed by a director's personal guarantee.
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
16,022 
1,249 
2024 
2023 
£ 
£ 
Provision at start of year
1,249 
451 
Charged to the profit and loss account
14,773 
798 
Provision at end of year
16,022 
1,249 
Some reversals of deferred tax are anticipated next year as assets continue to depreciate.
9
Loans to directors
During the year, the company made interest-free advances to a director amounting to £8,935 (2023: £8,336). These were repayable on demand. The company received repayments of £5,983 (2023: £4,353).
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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Synergy Gate Automation and Barriers Limited Notes to the Accounts for the year ended 30 April 2024
11
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 May 2022 
30 April 2023 
£ 
£ 
Capital and reserves (as previously stated)
36,636 
52,126 
Deferred tax liability
(452)
(1,249)
Capital and reserves (as restated)
36,184 
50,877 
Reconciliation of profit or loss for the year
30 April 2023 
£ 
Profit for the year (as previously stated)
28,490 
Deferred tax charge
(798)
Profit for the year (as restated)
27,692 
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