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Registered number: 03289368









SYNDICATED HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
SYNDICATED HOLDINGS LIMITED
REGISTERED NUMBER: 03289368

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
                                                                  Note
£
£

Fixed assets
  

Investments
 4 
10,090
310,090

Current assets
  

Debtors
 5 
1,898,190
1,898,190

Cash at bank and in hand
 6 
666,952
723,817

  
2,565,142
2,622,007

Creditors: amounts falling due within one year
 7 
(329,470)
(798,044)

Net current assets
  
 
 
2,235,672
 
 
1,823,963

Total assets less current liabilities
  
2,245,762
2,134,053

Creditors: amounts falling due after more than one year
 8 
(330,685)
(211,161)

  

Net assets
  
1,915,077
1,922,892


Capital and reserves
  

Called up share capital 
 9 
100
100

Capital redemption reserve
  
9,990
9,990

Profit and loss account
  
1,904,987
1,912,802

  
1,915,077
1,922,892


Page 1

 
SYNDICATED HOLDINGS LIMITED
REGISTERED NUMBER: 03289368
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mrs J Rossi
Director

Date: 24 March 2025

Page 2

 
SYNDICATED HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Syndicated Holdings Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Singlewell Manor Hotel & Suites, Hever Court Road, Singlewel, Gravesend, Kent, England, DA12 5UQ. The principal activity of the company during the year has been that of a holding company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in participating interests are measured and represented by a capital contibution to an LLP.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
SYNDICATED HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
SYNDICATED HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Fixed asset investments





Investments in Subsidiary Companies
Participating Interests
Total

£
£
£



Cost or valuation


At 1 April 2023
10,090
300,000
310,090


Disposals
-
(300,000)
(300,000)



At 31 March 2024
10,090
-
10,090






Net book value



At 31 March 2024
10,090
-
10,090



At 31 March 2023
10,090
300,000
310,090


5.


Debtors

2024
2023
£
£



Other debtors
1,898,190
1,898,190

1,898,190
1,898,190



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
666,952
723,817

666,952
723,817


Page 5

 
SYNDICATED HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
161,267
600,547

Other creditors
166,703
195,997

Accruals and deferred income
1,500
1,500

329,470
798,044



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
330,685
211,161

330,685
211,161



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



90 (2023 - 90) Ordinary A shares of £1.00 each
90
90
10 (2023 - 10) Ordinary B shares of £1.00 each
10
10

100

100



10.


Related party transactions

Included in other creditors is a balance of £166,703 (2023: £195,997) owed to the directors of the company. This balance is interest free and repayable on demand.
An investment in a participating interest, representing a capital contribution in Syndicated Commercial LLP, was transferred to a subsidiary during the year for £300,000 
(2023: £nil).

 
Page 6