IRIS Accounts Production v24.3.2.46 02947598 Board of Directors 30.6.24 1.7.23 30.6.24 30.6.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. true true true false true true false false false false false false true false Ordinary 0 A Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh029475982023-06-30029475982024-06-30029475982023-07-012024-06-30029475982022-06-30029475982022-07-012023-06-30029475982023-06-3002947598ns15:EnglandWales2023-07-012024-06-3002947598ns14:PoundSterling2023-07-012024-06-3002947598ns10:Director12023-07-012024-06-3002947598ns10:Consolidated2024-06-3002947598ns10:ConsolidatedGroupCompanyAccounts2023-07-012024-06-3002947598ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3002947598ns10:Consolidatedns10:MediumEntities2023-07-012024-06-3002947598ns10:Consolidatedns10:Audited2023-07-012024-06-3002947598ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-07-012024-06-3002947598ns10:Medium-sizedCompaniesRegimeForAccounts2023-07-012024-06-3002947598ns10:Consolidated2023-07-012024-06-3002947598ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-07-012024-06-3002947598ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-07-012024-06-3002947598ns10:FullAccounts2023-07-012024-06-3002947598ns5:Subsidiary12023-07-012024-06-3002947598ns5:Subsidiary22023-07-012024-06-3002947598ns5:Subsidiary32023-07-012024-06-300294759812023-07-012024-06-3002947598ns10:OrdinaryShareClass12023-07-012024-06-3002947598ns10:OrdinaryShareClass22023-07-012024-06-3002947598ns10:Director22023-07-012024-06-3002947598ns10:CompanySecretary12023-07-012024-06-3002947598ns10:RegisteredOffice2023-07-012024-06-3002947598ns10:Consolidated2022-07-012023-06-3002947598ns5:CurrentFinancialInstruments2024-06-3002947598ns5:CurrentFinancialInstruments2023-06-3002947598ns5:ShareCapital2024-06-3002947598ns5:ShareCapital2023-06-3002947598ns5:FurtherSpecificReserve1ComponentTotalEquity2024-06-3002947598ns5:FurtherSpecificReserve1ComponentTotalEquity2023-06-3002947598ns5:RetainedEarningsAccumulatedLosses2024-06-3002947598ns5:RetainedEarningsAccumulatedLosses2023-06-3002947598ns5:ShareCapital2022-06-3002947598ns5:RetainedEarningsAccumulatedLosses2022-06-3002947598ns5:FurtherSpecificReserve1ComponentTotalEquity2022-06-3002947598ns5:RetainedEarningsAccumulatedLosses2022-07-012023-06-3002947598ns5:FurtherSpecificReserve1ComponentTotalEquity2022-07-012023-06-3002947598ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-3002947598ns5:FurtherSpecificReserve1ComponentTotalEquity2023-07-012024-06-3002947598ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3002947598ns5:PatentsTrademarksLicencesConcessionsSimilar2023-07-012024-06-3002947598ns5:PlantMachinery2023-07-012024-06-3002947598ns5:FurnitureFittings2023-07-012024-06-3002947598ns5:ComputerEquipment2023-07-012024-06-3002947598ns5:CostValuation2023-06-3002947598ns5:RevaluationsIncreaseDecreaseInInvestments2024-06-3002947598ns5:CostValuation2024-06-30029475981ns5:Subsidiary12023-07-012024-06-3002947598ns5:Subsidiary12024-06-3002947598ns5:Subsidiary12023-06-3002947598ns5:Subsidiary12022-07-012023-06-3002947598ns5:Subsidiary232023-07-012024-06-3002947598ns5:Subsidiary242023-07-012024-06-3002947598ns5:Subsidiary22024-06-3002947598ns5:Subsidiary22023-06-3002947598ns5:Subsidiary22022-07-012023-06-30029475985ns5:Subsidiary32023-07-012024-06-3002947598ns5:Subsidiary32024-06-3002947598ns5:Subsidiary32023-06-3002947598ns5:Subsidiary32022-07-012023-06-3002947598ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3002947598ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3002947598ns10:OrdinaryShareClass12024-06-3002947598ns10:OrdinaryShareClass22024-06-3002947598ns5:RetainedEarningsAccumulatedLosses2023-06-3002947598ns5:FurtherSpecificReserve1ComponentTotalEquity2023-06-30
REGISTERED NUMBER: 02947598 (England and Wales)















Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements for the Year Ended 30 June 2024

for

SYNOPTIX GROUP LIMITED

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Contents of the Consolidated Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


SYNOPTIX GROUP LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr D R Durant
Mr J W Mountjoy



SECRETARY: Mr J B Durant



REGISTERED OFFICE: 530 Bristol Business Park
Bristol
Avon
BS16 1EJ



REGISTERED NUMBER: 02947598 (England and Wales)



AUDITORS: BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF



BANKERS: Metro Bank
Audits Team
One Southampton Row
London
WC1B 5HA



SOLICITORS: Weightmans LLP
Hardman Square
No 1 Spinningfields
Manchester
M3 3EB

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Group Strategic Report
for the Year Ended 30 June 2024


The directors present their strategic report of the company and the group for the year ended 30 June 2024.

Principal activity

Synoptix Group Limited (the "Company") acts as a holding company for Parkway Engineering Services Limited and Synoptix Limited.

COMPANY NUMBER 07567392

REVIEW OF THE BUSINESS
The Company is well-positioned to act as an intermediary supporting and driving forward the activities of its subsidiaries.

Company performance and measurement

Originally formed to act as an intermediate holding company, the Company has continued to perform this role in the stated period. The Directors believe that analysis using KPIs for the Company, other than those tabulated below, is neither necessary nor appropriate for an understanding of the development, performance or position of the Company.

The development, performance and position of the group's subsidiaries are discussed in their individual annual reports and financial statements and will form no part of this report.

Key performance indicators

2024 2023

Profit/(Loss) on ordinary activities before tax (£) 309,055 235,773

Net Assets 4,381,367 3,086,714


The profit on ordinary activities before tax for the period ended 30 June 2024 is largely a reflection of dividends received from subsidiaries.

PRINCIPAL RISKS AND UNCERTAINTIES
These can largely be subsumed into the same risks and uncertainties to which the subsidiaries are exposed, ie market fluctuations which are largely outside our direct control. On a positive note, UK (and European) defence expenditure is currently expected to increase substantially in the next year or two, a fact which has already been responsible for an improvement in share prices for a number of blue chip companies in this sector.

Synoptix Group Limited will continue to exercise prudence in relation to shareholder distributions and retains the resources to invest in the support and development of its subsidiary companies.

ON BEHALF OF THE BOARD:





Mr D R Durant - Director


26 March 2025

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Report of the Directors
for the Year Ended 30 June 2024


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

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the delivery of consultancy services in the engineering sector together with the provision of staff.

DIVIDENDS
Interim dividends per share were paid as follows:
Ordinary £1 shares 2000 - 30 June 2024
A Ordinary £1 shares 2000 - 30 June 2024
Redeemable Preference Shares £1 shares NIL


The directors recommend that no final dividends be paid.

The total distribution of dividends for the year ended 30 June 2024 will be £ 200,000 .

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

Mr D R Durant
Mr J W Mountjoy

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr D R Durant - Director


26 March 2025

Report of the Independent Auditors to the Members of
Synoptix Group Limited


Opinion
We have audited the financial statements of Synoptix Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30 June 2024 and of the group's 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's and the parent 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Synoptix Group Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Synoptix Group Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- we identified the significant laws and regulations applicable to the group which we considered could have a direct material effect on the financial statements or the operations of the group. Said laws and regulations include but are not limited to, the Companies Act 2006, taxation legislation and data protection, anti-bribery and employment legislation;
- the identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur. We also addressed the risk of fraud through management bias and override of controls by;

- updating and reviewing our knowledge of the group, its officers and internal financial function, together with their systems and internal controls. This included making enquiries of management as to their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. We concluded that whilst the group had controls in place that were appropriate to its size and the nature of its activities, we could not rely on those systems and internal controls exclusively for the purposes of our audit work. We therefore adopted a substantive and transactional approach to our audit, seeking to verify figures in the balance sheet to third party evidence and transactions within the Income Statement to external independent documentation;
- We did not review every transaction. However, we adopted an approach based on testing a sample of transactions. In choosing our sample, we tested transactions that were material in nature and in addition a random sample of other transaction. By choosing transactions of a material nature, our audit work is designed to detect material misstatements. The use of random testing on other transactions is designed to detect other irregularities and the operation of the group's internal control systems generally. If exceptions were noted, our audit work was expanded to test more transactions with a view to determining whether the exception was of an isolated nature;
- We performed analytical procedures to identify any unusual or unexpected relationships;
- We tested journal entries to identify unusual transactions and investigated the rationale behind significant or unusual transactions.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Auditors.

Report of the Independent Auditors to the Members of
Synoptix Group 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 Auditors 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.




Katharine Johns FCCA (Senior Statutory Auditor)
for and on behalf of BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF

26 March 2025

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Consolidated Income Statement
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 11,209,303 10,610,504

Cost of sales 6,282,097 6,414,169
GROSS PROFIT 4,927,206 4,196,335

Administrative expenses 3,628,227 2,762,888
1,298,979 1,433,447

Other operating income 1,500 13,015
OPERATING PROFIT 4 1,300,479 1,446,462

Interest receivable and similar income 21,851 32,917
1,322,330 1,479,379

Interest payable and similar expenses 5 44,037 26,459
PROFIT BEFORE TAXATION 1,278,293 1,452,920

Tax on profit 6 (223,453 ) 238,611
PROFIT FOR THE FINANCIAL YEAR 1,501,746 1,214,309
Profit attributable to:
Owners of the parent 1,501,746 1,123,476
Non-controlling interests - 90,833
1,501,746 1,214,309

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Consolidated Other Comprehensive Income
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

PROFIT FOR THE YEAR 1,501,746 1,214,309


OTHER COMPREHENSIVE INCOME
Revaluation of investment property
Release of revaluation reserve - (71,573 )
Release of minority interest (168,177 ) -
Income tax relating to components of other
comprehensive income

-

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

(168,177

)

(71,573

)
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

1,333,569

1,142,736

Total comprehensive income attributable to:
Owners of the parent 1,165,392 1,051,903
Non-controlling interests 168,177 90,833
1,333,569 1,142,736

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Consolidated Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 24,646 12,329
Tangible assets 10 244,653 266,757
Investments 11 4,981 4,981
274,280 284,067

CURRENT ASSETS
Stocks 12 1,785,455 923,706
Debtors 13 2,011,514 2,863,613
Cash at bank and in hand 2,260,968 1,025,659
6,057,937 4,812,978
CREDITORS
Amounts falling due within one year 14 1,870,421 2,021,567
NET CURRENT ASSETS 4,187,516 2,791,411
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,461,796

3,075,478

CREDITORS
Amounts falling due after more than one
year

15

84,572

-
NET ASSETS 4,377,224 3,075,478

CAPITAL AND RESERVES
Called up share capital 17 100 100
Other reserves 18 25,848 25,848
Retained earnings 18 4,351,276 3,217,707
SHAREHOLDERS' FUNDS 4,377,224 3,243,655

NON-CONTROLLING INTERESTS 19 - (168,177 )
TOTAL EQUITY 4,377,224 3,075,478

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





Mr D R Durant - Director


SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Company Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - -
Investments 11 5,460,725 4,275,227
5,460,725 4,275,227

CURRENT ASSETS
Debtors 13 21,859 4,222
Cash at bank and in hand 117,556 2,590
139,415 6,812
CREDITORS
Amounts falling due within one year 14 1,218,773 1,195,225
NET CURRENT LIABILITIES (1,079,358 ) (1,188,413 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,381,367

3,086,814

CAPITAL AND RESERVES
Called up share capital 17 100 100
Other reserves 18 4,290,382 3,104,884
Retained earnings 18 90,885 (18,170 )
SHAREHOLDERS' FUNDS 4,381,367 3,086,814

Company's profit for the financial year 309,055 235,773

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





Mr D R Durant - Director


SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Consolidated Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Other
capital earnings reserves
£    £    £   
Balance at 1 July 2022 100 2,663,963 (258,397 )

Changes in equity
Dividends - (239,762 ) -
Total comprehensive income - 793,506 258,397
100 3,217,707 -
Acquisition of non-controlling
interest

-

-

-
Balance at 30 June 2023 100 3,217,707 -

Changes in equity
Dividends - (200,000 ) -
Total comprehensive income - 1,333,569 -
Balance at 30 June 2024 100 4,351,276 -
Other Non-controlling Total
reserves Total interests equity
£    £    £    £   
Balance at 1 July 2022 25,848 2,431,514 305,990 2,737,504

Changes in equity
Dividends - (239,762 ) (15,000 ) (254,762 )
Total comprehensive income - 1,051,903 90,833 1,142,736
25,848 3,243,655 381,823 3,625,478
Acquisition of non-controlling
interest

-

-

(550,000

)

(550,000

)
Balance at 30 June 2023 25,848 3,243,655 (168,177 ) 3,075,478

Changes in equity
Dividends - (200,000 ) - (200,000 )
Total comprehensive income - 1,333,569 168,177 1,501,746
Balance at 30 June 2024 25,848 4,377,224 - 4,377,224

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Company Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 July 2022 100 (14,181 ) 2,141,658 2,127,577

Changes in equity
Dividends - (239,762 ) - (239,762 )
Total comprehensive income - 235,773 963,226 1,198,999
Balance at 30 June 2023 100 (18,170 ) 3,104,884 3,086,814

Changes in equity
Dividends - (200,000 ) - (200,000 )
Total comprehensive income - 309,055 1,185,498 1,494,553
Balance at 30 June 2024 100 90,885 4,290,382 4,381,367

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Consolidated Cash Flow Statement
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,502,000 1,470,496
Interest paid (3,053 ) (1,519 )
Finance costs paid (40,984 ) (24,940 )
Tax paid 97,427 8,914
Taxation refund - 19,041
Income tax paid - (10,170 )
Net cash from operating activities 1,555,390 1,461,822

Cash flows from investing activities
Purchase of intangible fixed assets (15,210 ) (12,182 )
Purchase of tangible fixed assets (51,126 ) (261,337 )
Sale of tangible fixed assets 1 5,129
Sale of investment property - 270,000
Purchase of minority interest - (550,000 )
Interest received 21,851 32,917
Net cash from investing activities (44,484 ) (515,473 )

Cash flows from financing activities
New loans in year (4,665 ) (415,223 )
Amount introduced by directors 19,985 70,736
Amount withdrawn by directors (90,917 ) -
Equity dividends paid (200,000 ) (239,762 )
Dividends paid to minority interests - (15,000 )
Net cash from financing activities (275,597 ) (599,249 )

Increase in cash and cash equivalents 1,235,309 347,100
Cash and cash equivalents at beginning
of year

2

1,025,659

678,559

Cash and cash equivalents at end of year 2 2,260,968 1,025,659

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 June 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30.6.24 30.6.23
£    £   
Profit before taxation 1,278,293 1,452,920
Depreciation charges 75,361 37,953
Loss/(profit) on disposal of fixed assets 761 (1,299 )
Finance costs 44,037 26,459
Finance income (21,851 ) (32,917 )
1,376,601 1,483,116
Increase in stocks (861,749 ) (361,633 )
Decrease/(increase) in trade and other debtors 1,092,294 (516,198 )
(Decrease)/increase in trade and other creditors (105,146 ) 865,211
Cash generated from operations 1,502,000 1,470,496

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 2,260,968 1,025,659
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 1,025,659 678,559


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 1,025,659 1,235,309 2,260,968
1,025,659 1,235,309 2,260,968
Total 1,025,659 1,235,309 2,260,968

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Notes to the Consolidated Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Synoptix Group 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 General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The financial statements consolidate the financial statements of Synoptix Group Ltd and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. Management consider that there are no specific areas of significant estimation or judgement of a material nature to these financial statements.

Turnover
Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after allowance for credit risk and other uncertainties.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance and 15% on reducing balance
Computer equipment - 33% on reducing balance and 33% on cost

Tangible fixed assets are initially recorded at cost.

Work in progress
Work in progress is recorded at selling price as adjusted for any provision for irrecoverable amounts.

Financial instruments
Financial instruments are classified 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 its liabilities.


SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified 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 its liabilities.

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Investments in subsidiaries and associates
Investments in subsidiaries are initially recorded at cost, and subsequently stated at the net assets figure of the subsidiary entity.

3. EMPLOYEES AND DIRECTORS
30.6.24 30.6.23
£    £   
Wages and salaries 3,563,073 2,993,045
Social security costs 382,012 337,078
Other pension costs 335,100 127,259
4,280,185 3,457,382

The average number of employees during the year was as follows:
30.6.24 30.6.23

Officers of the group 5 5
Administration 29 19
Direct labour 38 36
72 60

30.6.24 30.6.23
£    £   
Directors' remuneration 179,000 200,000
Directors' pension contributions to money purchase schemes - 25,000

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


4. OPERATING PROFIT

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

30.6.24 30.6.23
£    £   
Other operating leases 98,588 98,951
Depreciation - owned assets 72,468 37,074
Loss/(profit) on disposal of fixed assets 761 (72,872 )
Patents and licences amortisation 2,893 878
Auditors' remuneration 18,450 18,450
Other non- audit services 19,980 50,347
Foreign exchange differences - 2,408

5. INTEREST PAYABLE AND SIMILAR EXPENSES
30.6.24 30.6.23
£    £   
Interest payable 3,053 1,519
Other finance costs 40,945 24,940
Corporation tax interest 39 -
44,037 26,459

6. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
30.6.24 30.6.23
£    £   
Current tax:
UK corporation tax 330,187 238,611
Under/Overprovision (553,640 ) -

Tax on profit (223,453 ) 238,611

Reconciliation of total tax (credit)/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:

30.6.24 30.6.23
£    £   
Profit before tax 1,278,293 1,452,920
Profit multiplied by the standard rate of corporation tax in the UK of 24.963
% (2023 - 20.481 %)

319,100

297,573

Effects of:
Expenses not deductible for tax purposes 2,077 (10,564 )
Capital allowances in excess of depreciation - (52,467 )
Depreciation in excess of capital allowances 5,956 -
Adjustments to tax charge in respect of previous periods (553,640 ) -
Losses not available for group offset 3,054 4,069
Total tax (credit)/charge (223,453 ) 238,611

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


6. TAXATION - continued

Tax effects relating to effects of other comprehensive income

30.6.24
Gross Tax Net
£    £    £   
Revaluation of investment property
Release of revaluation reserve
Release of minority interest (168,177 ) - (168,177 )
(168,177 ) - (168,177 )

30.6.23
Gross Tax Net
£    £    £   
Revaluation of investment property
Release of revaluation reserve (71,573 ) - (71,573 )
(71,573 ) - (71,573 )

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
30.6.24 30.6.23
£    £   
Ordinary shares of £1 each
Interim 158,000 189,412
A Ordinary shares of £1 each
Interim 42,000 50,350
200,000 239,762

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


9. INTANGIBLE FIXED ASSETS

Group
Patents
and
licences
£   
COST
At 1 July 2023 13,722
Additions 15,210
At 30 June 2024 28,932
AMORTISATION
At 1 July 2023 1,393
Amortisation for year 2,893
At 30 June 2024 4,286
NET BOOK VALUE
At 30 June 2024 24,646
At 30 June 2023 12,329

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 11,504 237,653 102,092 351,249
Additions - 771 50,355 51,126
Disposals (712 ) - (1,083 ) (1,795 )
At 30 June 2024 10,792 238,424 151,364 400,580
DEPRECIATION
At 1 July 2023 7,400 18,006 59,086 84,492
Charge for year 926 33,062 38,480 72,468
Eliminated on disposal (311 ) - (722 ) (1,033 )
At 30 June 2024 8,015 51,068 96,844 155,927
NET BOOK VALUE
At 30 June 2024 2,777 187,356 54,520 244,653
At 30 June 2023 4,104 219,647 43,006 266,757

11. FIXED ASSET INVESTMENTS

Group Company
30.6.24 30.6.23 30.6.24 30.6.23
£    £    £    £   
Shares in group undertakings - - 5,460,725 4,275,227
Other investments not loans 4,981 4,981 - -
4,981 4,981 5,460,725 4,275,227

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


11. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:

Group

Investments (neither listed nor unlisted) were as follows:
30.6.24 30.6.23
£    £   
Fixed asset investments 4,981 4,981
Company
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 July 2023 4,275,227
Revaluations 1,185,498
At 30 June 2024 5,460,725
NET BOOK VALUE
At 30 June 2024 5,460,725
At 30 June 2023 4,275,227

Cost or valuation at 30 June 2024 is represented by:

Shares in
group
undertakings
£   
Valuation in 2015 809,969
Valuation in 2019 379,659
Valuation in 2020 355,000
Valuation in 2021 572,500
Valuation in 2022 452,500
Valuation in 2023 963,226
Valuation in 2024 1,185,498
Cost 742,373
5,460,725

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

Subsidiaries

Parkway Engineering Services Limited
Registered office: inside the United Kingdom
Nature of business: placement of staff and subcontractors
%
Class of shares: holding
Ordinary 100.00
30.6.24 30.6.23
£    £   
Aggregate capital and reserves 668,535 662,880
Profit for the year 5,655 65,075

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


11. FIXED ASSET INVESTMENTS - continued

Synoptix Limited
Registered office: inside the United Kingdom
Nature of business: engineering consultancy services
%
Class of shares: holding
Ordinary 100.00
Ordinary A 100.00
30.6.24 30.6.23
£    £   
Aggregate capital and reserves 4,792,087 3,603,888
Profit for the year 1,508,301 1,169,077

Engineering Resource Group Limited
Registered office: inside the United Kingdom
Nature of business: non trading
%
Class of shares: holding
Ordinary 100.00
30.6.24 30.6.23
£    £   
Aggregate capital and reserves (4,142 ) (2,878 )
Loss for the year (1,264 ) (613 )


12. STOCKS

Group
30.6.24 30.6.23
£    £   
Work-in-progress 1,785,455 923,706

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.6.24 30.6.23 30.6.24 30.6.23
£    £    £    £   
Trade debtors 910,107 2,206,100 - -
Bad debt provision (20,321 ) (15,024 ) - -
Amounts owed by associates 10,816 6,151 - -
Other debtors 668,694 494,902 - -
Directors' current accounts 13,183 - 13,183 -
Tax 321,612 99,265 4,449 -
Section 419 taxation paid 3,867 3,867 - -
VAT - - 4,227 4,222
Prepayments and accrued income 103,556 68,352 - -
2,011,514 2,863,613 21,859 4,222

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.6.24 30.6.23 30.6.24 30.6.23
£    £    £    £   
Trade creditors 356,276 422,994 - -
Amounts owed to group undertakings - - 1,086,819 667,189
Tax 334,678 238,653 4,449 -
Income tax payable 1,105 809 646 518
Social security and other taxes 94,967 90,269 - -
Pensions payable 29,175 41,504 - -
VAT 319,119 271,545 - -
Amount owed to pension fund - 77,166 - 77,166
Directors' current accounts 41,985 99,734 41,985 92,712
Accruals and deferred income 693,116 778,893 84,874 357,640
1,870,421 2,021,567 1,218,773 1,195,225

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
30.6.24 30.6.23
£    £   
Other creditors 84,572 -

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
30.6.24 30.6.23
£    £   
Within one year 100,231 93,064
Between one and five years 238,372 338,603
338,603 431,667

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
79 Ordinary £1 79 79
21 A Ordinary £1 21 21
100 100

The ordinary shares of £1 each are voting shares and are entitled to receive dividends. With regard to the return of capital on winding up or exit, they shall be entitled to the first £770,000, thereafter any return shall be divided pari passu with the A ordinary shares.

The A Ordinary shares of £1 each are voting shares and are entitled to receive dividends. They shall not be entitled to the first £770,000 on a return of capital or exit, thereafter any return shall be divided pari passu with the ordinary shares.

SYNOPTIX GROUP LIMITED (REGISTERED NUMBER: 02947598)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024


18. RESERVES

Group
Retained Other
earnings reserves Totals
£    £    £   

At 1 July 2023 3,217,707 25,848 3,243,555
Profit for the year 1,501,746 1,501,746
Dividends (200,000 ) (200,000 )
Movement in the year (168,177 ) - (168,177 )
At 30 June 2024 4,351,276 25,848 4,377,124

Company
Retained Other
earnings reserves Totals
£    £    £   

At 1 July 2023 (18,170 ) 3,104,884 3,086,714
Profit for the year 309,055 309,055
Dividends (200,000 ) (200,000 )
Movement in the year - 1,185,498 1,185,498
At 30 June 2024 90,885 4,290,382 4,381,267


19. NON-CONTROLLING INTERESTS

10 ordinary shares of £1 each in Synoptix Limited, a subsidiary in the group, were owned by Mr A Millichamp until 30 June 2023. Mr Millichamp also owned 1Ordinary B share of £1 in Synoptix Limited until 30 June 2023.

On 30 June 2023 Mr Millichamp sold his share-holdings in Synoptix Limited to Synoptix Group Limited and resigned his position as a director of Synoptix Limited.

Synoptix is now a 100% subsidiary of the Synoptix Group Limited.,

20. RELATED PARTY DISCLOSURES

At the end of the period a loan of £13,183 (2023 - £Nil) was due to the company from a director. Interest has been charged on this loan at rate of 2.25% per annum.