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REGISTERED NUMBER: 06145541 (England and Wales)












STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

SYNERGIS TRADING LIMITED

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditor 5

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 12

Notes to the Financial Statements 13


SYNERGIS TRADING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr J P Cheetham
Miss E V Cheetham
Miss J V J Earnshaw
Miss N Cheetham



SECRETARY: Mr J P Cheetham



REGISTERED OFFICE: 328 Coleford Road
Sheffield
S9 5PH



REGISTERED NUMBER: 06145541 (England and Wales)



AUDITOR: Xeinadin Audit Limited
8th Floor, Beckett House
36 Old Jewry
London
EC2R 8DD



BANKERS: Barclays Bank Plc
2 Arena Court
Sheffield
South Yorkshire
S9 2LF

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their strategic report for the year ended 30 September 2024.

REVIEW OF BUSINESS
The principal activity of the company continued to be that of a holding company and property rental company. The company was originally established to facilitate the acquisition of its subsidiary company Europa Engineering Limited. Subsequently, the company's activities have been restricted to the management of group assets, the renting out of those assets and management of dividend flows.

The company's operating profits for the year ended 30 September 2024 amounts to £355,304 (2023: £198,597).

Shareholders funds at 30 September 2024 are £7,014,135 (2023: £6,275,702).

The consolidated financial statements of the ultimate parent company, Europa Engineering Holdings Limited, contain a review of business activities on a group wide basis.

PRINCIPAL RISKS AND UNCERTAINTIES
The ability to identify and manage risks and uncertainties is a key element in ensuring the continued success of the company. The directors conclude that the company itself, is not exposed to any particular risks or uncertainties but since the rental revenues received by the company are generated from the trading company, it is acknowledged that the company is indirectly exposed to the risks and uncertainties of the group's trading company Europa Engineering Limited. These risks and uncertainties would align with those typical to many other business sectors. Inflationary pressures on materials, energy prices and wages are particularly challenging at present. Supply chain issues, staff recruitment and retention and general market confidences are also presenting their own challenges.

The consolidated financial statements of the ultimate parent company Europa Engineering Holdings Limited consider these risks and uncertainties in greater detail but the directors consider the group is prepared and is well placed to deal with the issues as they present themselves.

KEY PERFORMANCE INDICATORS
Key performance indicators are considered in the consolidated financial statements of the ultimate parent company Europa Engineering Holdings Limited.

ON BEHALF OF THE BOARD:





Mr J P Cheetham - Director


5 February 2025

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITIES
The principal activities of the company in the year under review were those of a holding company for its subsidiary investments and plant and property rental company.

DIVIDENDS
No dividends will be distributed for the year ended 30 September 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

Mr J P Cheetham
Miss E V Cheetham
Miss J V J Earnshaw

Other changes in directors holding office are as follows:

Miss N Cheetham - appointed 26 February 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditor is unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditor is aware of that information.

AUDITOR
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr J P Cheetham - Director


5 February 2025

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
SYNERGIS TRADING LIMITED

Opinion
We have audited the financial statements of Synergis Trading Limited (the 'company') for the year ended 30 September 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
SYNERGIS TRADING LIMITED


Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditor thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
SYNERGIS TRADING LIMITED


Auditors' responsibilities for the audit of the financial statements
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We design audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to the Companies Act 2006. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditor.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
SYNERGIS TRADING LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditor and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Robert Watson FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
8th Floor, Beckett House
36 Old Jewry
London
EC2R 8DD

5 February 2025

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £   

TURNOVER 574,750 357,300

Administrative expenses (221,540 ) (159,328 )
353,210 197,972

Other operating income 2,094 625
OPERATING PROFIT 5 355,304 198,597

Income from shares in group
undertakings

6

400,000

600,000
Interest receivable and similar income 90,907 53,153
846,211 851,750

Interest payable and similar expenses 7 (11,205 ) (3,953 )
PROFIT BEFORE TAXATION 835,006 847,797

Tax on profit 8 (96,573 ) (86,734 )
PROFIT FOR THE FINANCIAL YEAR 738,433 761,063

OTHER COMPREHENSIVE INCOME
Revaluation reserve - 1,775,230
Income tax relating to other
comprehensive income

-

(443,807

)
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

-

1,331,423
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

738,433

2,092,486

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 3,824,316 3,969,566
Investments 11 1,444,957 1,444,957
Investment property 12 789,268 321,061
6,058,541 5,735,584

CURRENT ASSETS
Debtors 13 1,793,503 170,250
Cash at bank 74,553 1,658,309
1,868,056 1,828,559
CREDITORS
Amounts falling due within one year 14 428,553 716,476
NET CURRENT ASSETS 1,439,503 1,112,083
TOTAL ASSETS LESS CURRENT LIABILITIES 7,498,044 6,847,667

CREDITORS
Amounts falling due after more than
one year

15

-

(33,290

)

PROVISIONS FOR LIABILITIES 17 (483,909 ) (538,675 )
NET ASSETS 7,014,135 6,275,702

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

BALANCE SHEET - continued
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 18 100 100
Revaluation reserve 19 1,331,423 1,331,423
Retained earnings 19 5,682,612 4,944,179
SHAREHOLDERS' FUNDS 7,014,135 6,275,702

The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2025 and were signed on its behalf by:





Mr J P Cheetham - Director


SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 October 2022 100 4,833,116 - 4,833,216

Changes in equity
Dividends - (650,000 ) - (650,000 )
Total comprehensive income - 761,063 1,331,423 2,092,486
Balance at 30 September 2023 100 4,944,179 1,331,423 6,275,702

Changes in equity
Total comprehensive income - 738,433 - 738,433
Balance at 30 September 2024 100 5,682,612 1,331,423 7,014,135

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Synergis Trading 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.

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared in Pound Sterling (£), the functional currency of the company, and rounded to the nearest Pound.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b)
and 11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirement of paragraph 33.7.

Significant judgements and estimates
No significant judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is recognised on an accruals basis by reference to the rental and lease contracts and is measured at the fair value of the consideration received or receivable, excluding any discounts and value added tax.

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Land and Buildings are held at fair value less any accumulates depreciation and subsequent impairment losses. Increases in fair value are recognised in other comprehensive income.

Depreciation is provided at the following annual rates in order to write off the cost of each asset to its estimated residual value on a straight line basis over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Freehold landNot depreciated
Freehold propertyNot depreciated
Plant and machineryStraight line over 10 years
Fixtures and fittingsStraight line over 10 and 4 years
Motor vehiclesStraight line over 4 years

Investments in subsidiaries
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Investment property
Investment property, which is property held to realise rental income and capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable purchase expenditure. Subsequently, it is valued at fair value at the reporting date and any aggregate deficits or surpluses arising from changes in fair value are recognised in the profit or loss

Financial instruments
Financial instruments are classed and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of it's liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. 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.

Consolidation
The company has taken advantage of the exemptions afforded by section 400 of the Companies Act 2006 and has not prepared group accounts on the basis that it is, itself, a wholly owned subsidiary company and that it's activities are included in the group accounts of the larger group. These financial statements present information about the company as an individual entity and not about its group.

4. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 30 September 2024 nor for the year ended 30 September 2023.

The average number of employees during the year was as follows:
30.9.24 30.9.23

Directors 4 3

30.9.24 30.9.23
£    £   
Directors' remuneration - -

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. EMPLOYEES AND DIRECTORS - continued

The directors are remunerated entirely through the wholly owned subsidiary Europa Engineering Ltd. as follows:

30.9.24 30.9.23
£ £
Director emoluments 67,393 65,493
Company contributions to money purchase pension schemes 409,426 140,019

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.9.24 30.9.23
£    £   
Depreciation - owned assets 107,219 97,608
Depreciation - assets on hire purchase contracts 32,354 37,643
Loss/(profit) on disposal of fixed assets 22,598 (7,036 )

6. INCOME FROM SHARES IN GROUP UNDERTAKINGS
30.9.24 30.9.23
£    £   
Shares in group undertakings 400,000 600,000

7. INTEREST PAYABLE AND SIMILAR EXPENSES
30.9.24 30.9.23
£    £   
Hire purchase interest 11,205 3,953

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.24 30.9.23
£    £   
Current tax:
UK corporation tax 151,339 61,167

Deferred tax (54,766 ) 25,567
Tax on profit 96,573 86,734

UK corporation tax has been charged at 25% (2023 - 22%).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30.9.24 30.9.23
£    £   
Profit before tax 835,006 847,797
Profit multiplied by the standard rate of corporation tax in the UK
of 25% (2023 - 22%)

208,752

186,515

Effects of:
Income not taxable for tax purposes (100,524 ) (132,138 )
Depreciation in excess of capital allowances 37,505 8,315
Loss/(profit) on disposals 5,650 (1,548 )

Deferred taxation charges (54,766 ) 25,567
claims
Other adjustments (44 ) 23

Total tax charge 96,573 86,734

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 30 September 2024.


SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8. TAXATION - continued
30.9.23
Gross Tax Net
£    £    £   
Revaluation reserve 1,775,230 (443,807 ) 1,331,423

9. DIVIDENDS
30.9.24 30.9.23
£    £   
Final - 650,000

10. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 October 2023 3,500,000 1,931,812 177,046 452,822 6,061,680
Additions - 17,681 16,170 160,320 194,171
Disposals - (84,000 ) (4,229 ) (280,907 ) (369,136 )
At 30 September 2024 3,500,000 1,865,493 188,987 332,235 5,886,715
DEPRECIATION
At 1 October 2023 - 1,766,761 146,896 178,457 2,092,114
Charge for year - 37,644 10,448 91,481 139,573
Eliminated on disposal - (84,000 ) (4,229 ) (81,059 ) (169,288 )
At 30 September 2024 - 1,720,405 153,115 188,879 2,062,399
NET BOOK VALUE
At 30 September 2024 3,500,000 145,088 35,872 143,356 3,824,316
At 30 September 2023 3,500,000 165,051 30,150 274,365 3,969,566

The fair value of the Freehold property has been arrived at on the basis of a valuation carried out at 31 May 2023 by Bennell Limited. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 September 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2023 1,775,230 - - - 1,775,230
Cost 1,724,770 1,865,493 188,987 332,235 4,111,485
3,500,000 1,865,493 188,987 332,235 5,886,715

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 October 2023 41,543 133,958 175,501
Additions - 135,950 135,950
Disposals - (269,908 ) (269,908 )
At 30 September 2024 41,543 - 41,543
DEPRECIATION
At 1 October 2023 17,309 41,861 59,170
Charge for year 4,155 28,199 32,354
Eliminated on disposal - (70,060 ) (70,060 )
At 30 September 2024 21,464 - 21,464
NET BOOK VALUE
At 30 September 2024 20,079 - 20,079
At 30 September 2023 24,234 92,097 116,331

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 1,444,957
NET BOOK VALUE
At 30 September 2024 1,444,957
At 30 September 2023 1,444,957

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Europa Engineering Ltd.
Registered office: 328 Coleford Road, Sheffield, S9 5PH
Nature of business: Manufacture, engineering and fabrication
%
Class of shares: holding
Ordinary 100.00
30.9.24 30.9.23
£    £   
Aggregate capital and reserves 1,240,761 1,341,581
Profit for the year 299,180 834,210

The directors believe that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 321,061
Additions 468,207
At 30 September 2024 789,268
NET BOOK VALUE
At 30 September 2024 789,268
At 30 September 2023 321,061

The fair value of the investment property brought forward has been arrived at on the basis of a valuation carried out at 30 September 2023 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Additional investment property was bought during the year which as been included at cost.

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Amounts owed by group undertakings 1,782,405 158,803
Prepayments 11,098 11,447
1,793,503 170,250

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts (see note 16) - 39,948
Amounts owed to group undertakings 126,499 585,000
Corporation tax 151,339 61,167
Directors' current accounts 134,228 15,154
Accruals and deferred income 16,487 15,207
428,553 716,476

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts (see note 16) - 33,290

16. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year - 39,948
Between one and five years - 33,290
- 73,238

17. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax
Accelerated capital allowances 40,101 94,867
Revaluation surpluses 443,808 443,808
483,909 538,675

Deferred
tax
£   
Balance at 1 October 2023 538,675
Revaluation surpluses
Accelerated capital allowances (54,766 )
Balance at 30 September 2024 483,909

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £1 100 100

SYNERGIS TRADING LIMITED (REGISTERED NUMBER: 06145541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

19. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2023 4,944,179 1,331,423 6,275,602
Profit for the year 738,433 738,433
At 30 September 2024 5,682,612 1,331,423 7,014,035

20. CAPITAL COMMITMENTS
30.9.24 30.9.23
£    £   
Contracted but not provided for in the
financial statements - 468,641

21. RELATED PARTY DISCLOSURES

Group debt
The company has provided a Cross Guarantee and Debenture with Europa Engineering Ltd., Europa Engineering Group Limited and Europa Engineering Holdings Ltd in relation to group bank borrowings. As at 30 September 2024 group borrowings amounted to £nil (2023: £87,500).

22. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Europa Engineering Group Limited.

The company's ultimate parent company is Europa Engineering Holdings Ltd.

The registered office of both companies is 328 Coleford Road, Sheffield, S9 5PH. Company accounts and group accounts are held at that address.