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REGISTERED NUMBER: 01358855 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Syndex (London) Limited

Syndex (London) Limited (Registered number: 01358855)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Syndex (London) Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr R Booth
Mr P M Booth





SECRETARY: Mr R Booth





REGISTERED OFFICE: 1146 High Road
Whetstone
London
N20 0RA





REGISTERED NUMBER: 01358855 (England and Wales)





ACCOUNTANTS: Cymans
Chartered Certified Accountants
1146 High Road
Whetstone
London
N20 0RA

Syndex (London) Limited (Registered number: 01358855)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,043 2,555
Investment property 5 5,375,000 6,050,000
5,377,043 6,052,555

CURRENT ASSETS
Debtors 6 4,020 19,924
Cash at bank 1,094,340 365,437
1,098,360 385,361
CREDITORS
Amounts falling due within one year 7 304,882 309,554
NET CURRENT ASSETS 793,478 75,807
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,170,521

6,128,362

CREDITORS
Amounts falling due after more than one
year

8

(1,957,024

)

(2,003,861

)

PROVISIONS FOR LIABILITIES (477,332 ) (537,533 )
NET ASSETS 3,736,165 3,586,968

CAPITAL AND RESERVES
Called up share capital 600 600
Retained earnings 10 3,735,565 3,586,368
SHAREHOLDERS' FUNDS 3,736,165 3,586,968

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Syndex (London) Limited (Registered number: 01358855)

Statement of Financial Position - continued
31 May 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 21 February 2025 and were signed on its behalf by:





Mr R Booth - Director


Syndex (London) Limited (Registered number: 01358855)

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

1. STATUTORY INFORMATION

Syndex (London) 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. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rent receivable on an accrual basis and invoiced sales of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 tax
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.

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 3 (2023 - 1 ) .

Syndex (London) Limited (Registered number: 01358855)

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

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 21,456
DEPRECIATION
At 1 June 2023 18,901
Charge for year 512
At 31 May 2024 19,413
NET BOOK VALUE
At 31 May 2024 2,043
At 31 May 2023 2,555

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 6,050,000
Disposals (358,152 )
Revaluations (316,848 )
At 31 May 2024 5,375,000
NET BOOK VALUE
At 31 May 2024 5,375,000
At 31 May 2023 6,050,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2013 1,614,575
Valuation in 2015 280,000
Valuation in 2022 934,545
Valuation in 2024 (316,848 )
Cost 2,862,728
5,375,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 4,020 19,924

Syndex (London) Limited (Registered number: 01358855)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 32,167 27,692
Taxation and social security 94,622 1,674
Other creditors 178,093 280,188
304,882 309,554

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 1,947,024 1,958,387
Other creditors 10,000 45,474
1,957,024 2,003,861

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,143,043 1,143,178

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 1,947,024 1,958,387

The bank holds a fixed and floating charge over the specific asset.

10. RESERVES
Retained
earnings
£   

At 1 June 2023 3,586,368
Profit for the year 149,197
At 31 May 2024 3,735,565

Retained earnings comprises of the following:

Distributable reserves £1,362,387 (£1,288,284 in 2023)

Non distributable reserves £2,223,981 (£2,291,587 in 2023)