Company registration number 07418673 (England and Wales)
SYNTIUM LIFT PARTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SYNTIUM LIFT PARTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SYNTIUM LIFT PARTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,231
9,045
Current assets
Stocks
293,879
318,788
Debtors
4
885,185
646,364
Cash at bank and in hand
983,923
769,943
2,162,987
1,735,095
Creditors: amounts falling due within one year
5
(471,949)
(443,526)
Net current assets
1,691,038
1,291,569
Total assets less current liabilities
1,699,269
1,300,614
Creditors: amounts falling due after more than one year
6
-
0
(45,180)
Provisions for liabilities
(2,000)
(2,440)
Net assets
1,697,269
1,252,994
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
1,697,267
1,252,992
Total equity
1,697,269
1,252,994

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

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

SYNTIUM LIFT PARTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 7 March 2025
Mr D M O'Brien
Director
Company Registration No. 07418673
SYNTIUM LIFT PARTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Syntium Lift Parts Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, Medway Bridge House, 1 - 8 Fairmeadow, Maidstone, Kent, ME14 1JP. The principal place of business is Unit 3 Evegate Business Park, Station Road, Smeeth, Ashford, Kent TN25 6SX.

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.

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

1.2
Turnover

Turnover is measured at the fair value of the consideration net of VAT and trade discounts. Turnover from the sale of goods is recognised at the point of sale. When providing services, turnover is usually recognised on completion of the service and, for longer engagements, it is recognised by reference to the stage of completion at the balance sheet date.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets over their useful lives on the following bases:

Fixtures, fittings & equipment
25% reducing balance basis
Computer equipment
25% straight line basis
Motor vehicles
25% reducing balance basis
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price.

1.5
Financial instruments

The company has elected to apply the recognition and measurement provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, loans from fellow group companies and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

SYNTIUM LIFT PARTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable or receivable and deferred tax.

Current tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.7
Retirement benefits

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

1.8
Leasing and hire purchase commitments

Rentals payable under operating leases are charged to profit or loss on a straight line basis over the term of the lease.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

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

2024
2023
Number
Number
Total
4
4
SYNTIUM LIFT PARTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
57,658
Additions
3,837
Disposals
(2,231)
At 31 December 2024
59,264
Depreciation and impairment
At 1 January 2024
48,613
Depreciation charged in the year
3,790
Eliminated in respect of disposals
(1,370)
At 31 December 2024
51,033
Carrying amount
At 31 December 2024
8,231
At 31 December 2023
9,045
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
224,364
351,242
Amounts owed by group undertakings
481,259
136,059
Other debtors
179,562
159,063
885,185
646,364

Other debtors includes an amount of £133,773 (2023 - £145,432) due to the company from the director.

5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
-
0
10,056
Trade creditors
225,729
93,453
Taxation and social security
196,944
269,085
Other creditors
49,276
70,932
471,949
443,526
SYNTIUM LIFT PARTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
-
0
18,214
Other borrowings
-
0
26,966
-
0
45,180
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
24,676
49,352

The lease commitment above represents rent payable to 2025 in respect of a property occupied by the company.

 

8
Directors' transactions

During the year the company made advances totalling £76,543 (2023 - £171,799) to the director. Repayments totalling £88,202 (2023 - £98,000) were made in relation to these advances. The overdrawn balance incurred interest at HMRC approved rates.

 

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