01 June 2023 31 May 2024 No principle activity is included 11375041 2023-06-01 11375041 2024-05-31 11375041 2023-06-01 2024-05-31 11375041 2023-05-31 11375041 2022-06-01 2023-05-31 11375041 uk-core:WithinOneYear 2024-05-31 11375041 uk-core:WithinOneYear 2023-05-31 11375041 uk-core:AfterOneYear 2024-05-31 11375041 uk-core:AfterOneYear 2023-05-31 11375041 uk-core:ShareCapital 2024-05-31 11375041 uk-core:ShareCapital 2023-05-31 11375041 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 11375041 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 11375041 uk-bus:Director1 2023-06-01 2024-05-31 11375041 uk-bus:RegisteredOffice 2023-06-01 2024-05-31 11375041 uk-curr:PoundSterling 2023-06-01 2024-05-31 11375041 uk-core:PlantMachinery 2023-06-01 2024-05-31 11375041 uk-core:Vehicles 2023-06-01 2024-05-31 11375041 uk-core:FurnitureFittings 2023-06-01 2024-05-31 11375041 uk-core:OfficeEquipment 2023-06-01 2024-05-31 11375041 uk-core:VehiclesPlantMachinery 2023-05-31 11375041 uk-core:FurnitureFittingsToolsEquipment 2023-05-31 11375041 uk-core:VehiclesPlantMachinery 2023-06-01 2024-05-31 11375041 uk-core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 11375041 uk-core:VehiclesPlantMachinery 2024-05-31 11375041 uk-core:FurnitureFittingsToolsEquipment 2024-05-31 11375041 uk-core:BetweenOneTwoYears 2024-05-31 11375041 uk-core:BetweenOneTwoYears 2023-05-31 11375041 uk-core:BetweenTwoFiveYears 2024-05-31 11375041 uk-core:BetweenTwoFiveYears 2023-05-31 11375041 uk-bus:FRS102 2023-06-01 2024-05-31 11375041 uk-bus:FullAccounts 2023-06-01 2024-05-31 11375041 uk-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11375041 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  SYNERGY ELECTRIC LIMITED
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 MAY 2024
   
   
   
   
   
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
  SYNERGY ELECTRIC LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 MAY 2024
       
       
  DIRECTORS
       
  G A Bargh
  A St Claire Tracy
       
       
  REGISTERED OFFICE
       
  Suite 003 Imex Centre, 575-599 Maxted Road, Hemel Hempstead, HP2 7DX
       
       
  COMPANY REGISTERED NUMBER
       
  11375041
       
       
  BANKERS
       
  HSBC Bank plc
       
       
  ACCOUNTANTS
       
  Lyness Accountancy Practice Limited
  Chartered Certified Accountants
  78 Birmingham Street, Oldbury, B69 4EB
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
  page 1
  SYNERGY ELECTRIC LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 MAY 2024
       
       
  CONTENTS
       
  Pages
       
       
  3-4 Statement of Financial Position  
       
       
  5-8 Notes to the Financial Statements  
       
     
  page 2
  SYNERGY ELECTRIC LIMITED
  Company registered number: 11375041
  STATEMENT OF FINANCIAL POSITION AT 31 May 2024
           
    Note 2024 2023
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 3 105,756 98,968
  CURRENT ASSETS    
  Inventories   72,419 99,904
  Debtors 4 110,394 209,044
  Cash at bank and in hand   15,635 11,290
      198,448 320,238
  CREDITORS: Amounts falling due within one year 5 191,188 100,271
  NET CURRENT ASSETS   7,260 219,967
  TOTAL ASSETS LESS CURRENT LIABILITIES   113,016 318,935
           
  CREDITORS: Amounts falling due after more than one year 6 (150,643) (155,391)
  NET (LIABILITIES)/ASSETS   37,627) £163,544
       
  CAPITAL AND RESERVES
  Called up share capital   200 200
  Retained earnings   (37,827) 163,344
  SHAREHOLDERS' FUNDS   37,627) £163,544
       
  The notes on pages 5-8 form part of these financial statements
   
  page 3
  SYNERGY ELECTRIC LIMITED
  Company registered number: 11375041
  STATEMENT OF FINANCIAL POSITION AT 31 May 2024 (CONT.)
           
    Note 2024 2023
      £ £ £
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  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: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 19/03/2025
 
  Signed on behalf of the board of directors
 
 
       
  G A Bargh, Director
       
       
  The notes on pages 5-8 form part of these financial statements
   
  page 4
  SYNERGY ELECTRIC LIMITED
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 MAY 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  Synergy Electric Limited is a private company, limited by shares, incorporated in England & Wales.
         
  Registered office:
  Suite 003 Imex Centre, 575-599 Maxted Road, Hemel Hempstead, HP2 7DX
         
1b. Basis of accounting
         
  These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Borrowing costs
         
  Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
         
 
         
1e. Taxation
         
         
  Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
       
1f. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 20%  
  Vehicles Reducing balance 20%  
  Fixtures and fittings Reducing balance 15%  
  Equipment Reducing balance 15%  
         
1g. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
  The notes on pages 5-8 form part of these financial statements
   
  page 5
  SYNERGY ELECTRIC LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MAY 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1h. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1i. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1j. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
         
1k. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
         
1l. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
         
1m. Provisions
         
  Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
         
  The notes on pages 5-8 form part of these financial statements
   
  page 6
  SYNERGY ELECTRIC LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MAY 2024
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2024 2023
    No. No.
  Management and administration 3 3
   
         
3. PROPERTY, PLANT AND EQUIPMENT
    Plant & Fixtures &  
    Machinery Equipment Total
    £ £ £
  Cost
         
  At 1 June 2023 522 166,590 167,112
  Additions - 38,044 38,044
         
  Disposals - (9,990) (9,990)
  At 31 May 2024 522 194,644 195,166
   
  Depreciation
         
  At 1 June 2023 351 67,793 68,144
  Disposals - (5,898) (5,898)
  For the year 35 27,129 27,164
  At 31 May 2024 386 89,024 89,410
   
  Net Book Amounts
         
  At 31 May 2024 136 105,620 105,756
  At 31 May 2023 171 98,797 98,968
   
       
       
4. DEBTORS 2024 2023
    £ £
  Trade debtors 102,117 174,956
  Amounts owed by Synergy Pv Renewabl 3,844 -
  Social security and other taxes - 30,854
  Other debtors 4,433 3,234
    £110,394 £209,044
   
  The notes on pages 5-8 form part of these financial statements
   
  page 7
  SYNERGY ELECTRIC LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MAY 2024
       
       
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2024 2023
    £ £
  Bank loans and overdrafts 27,832 10,648
  Finance leases and hire purchase contracts 32,479 19,932
  Trade creditors 54,757 318
  Corporation tax 43,843 43,843
  Other taxes and social security 10,270 270
  Other creditors 22,007 25,260
    £191,188 £100,271
   
       
       
       
6. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    2024 2023
    £ £
  Bank loans and overdrafts 36,317 20,100
  Other loans 43,501 62,584
  Finance leases and hire purchase contracts 70,825 72,707
    £150,643 £155,391
   
       
       
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  bank 19,961 10,648
  leases 32,479 19,932
  within 1-2 years
  bank 36,317 20,100
  other 43,501 62,584
  within 2-5 years
  leases 70,825 72,707
    £203,083 £185,971
   
  The notes on pages 5-8 form part of these financial statements
   
  page 8