Company registration number 10335821 (England and Wales)
SYNERGY PRESTIGE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SYNERGY PRESTIGE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SYNERGY PRESTIGE LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
838,471
613,875
Cash at bank and in hand
284,581
1,606,348
1,123,052
2,220,223
Creditors: amounts falling due within one year
4
(580,135)
(1,034,274)
Net current assets
542,917
1,185,949
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
542,915
1,185,947
Total equity
542,917
1,185,949

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 February 2025 and are signed on its behalf by:
Mr K O'Reilly
Director
Company registration number 10335821 (England and Wales)
SYNERGY PRESTIGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

Synergy Prestige Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 311, Theobalds Enterprise Centre, Theobalds Business Park, Innovation Place, Platinum Way, Cheshunt, Waltham Cross, EN8 8YD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Cash at bank and in hand

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.

1.4
Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value.

SYNERGY PRESTIGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
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 substantively enacted by the reporting end date.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
54
44
SYNERGY PRESTIGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
835,186
586,179
Amounts owed by group undertakings
-
0
14,565
Other debtors
3,285
800
838,471
601,544
Deferred tax asset
-
0
12,331
838,471
613,875
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
40,301
52,975
Amounts owed to group undertakings
144,127
-
0
Corporation tax
18,825
-
0
Other taxation and social security
224,235
172,290
Other creditors
152,647
809,009
580,135
1,034,274
5
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Brian Clifford
Statutory Auditor:
Bright Grahame Murray
Date of audit report:
24 February 2025
SYNERGY PRESTIGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
6
Parent company

The ultimate parent undertaking is Synergy Security Solutions Limited, a company registered in the Republic of Ireland. The financial statements of the company are consolidated in the financial statements of Synergy Security Solutions Limited. These consolidated financial statements are available from its registered office, Unit 5E, Calmount Park, Calmount Road, Ballymount, Dublin 12, D12 R274, Ireland.

 

The directors consider there to be no ultimate controlling party.

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