SYNCNET LIMITED

Company Registration Number:
07418453 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2024

Period of accounts

Start date: 01 November 2023

End date: 31 October 2024

SYNCNET LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

SYNCNET LIMITED

Company Information

for the Period Ended 31 October 2024




Director: Ayodeji Olakolu
Registered office: 196
Wythenshawe Road
Manchester
England
M23 0PF
Company Registration Number: 07418453 (England and Wales)

SYNCNET LIMITED

Directors' Report Period Ended 31 October 2024

The directors present their report with the financial statements of the company for the period ended 31 October 2024

Principal Activities

General IT Support and Consultancy Services

Directors

The director(s) shown below were appointed to the company during the period
Ayodeji Olakolu
01 November 2023

This report was approved by the board of directors on 7 April 2025
And Signed On Behalf Of The Board By:

Name: Ayodeji Olakolu
Status: Director

SYNCNET LIMITED

Profit and Loss Account

for the Period Ended 31 October 2024


Notes

2024
£

2023
£
Turnover 150,905 117,647
Gross Profit or (Loss) 150,905 117,647
Administrative Expenses ( 140,330 ) ( 108,274 )
Operating Profit or (Loss) 10,575 9,373
Profit or (Loss) Before Tax 10,575 9,373
Tax on Profit ( 2,009 ) ( 1,781 )
Profit or (Loss) for Period 8,566 7,592

The notes form part of these financial statements

SYNCNET LIMITED

Balance sheet

As at 31 October 2024


Notes

2024
£

2023
£
Fixed assets
Total fixed assets: - -
Current assets
Debtors: 4 22,053 46,503
Cash at bank and in hand: 10,450 21,101
Total current assets: 32,503 67,604
Creditors: amounts falling due within one year: 5 ( 22,039 ) ( 40,956 )
Net current assets (liabilities): 10,464 26,648
Total assets less current liabilities: 10,464 26,648
Creditors: amounts falling due after more than one year: 6 ( 8,389 ) ( 17,389 )
Total net assets (liabilities): 2,075 9,259

The notes form part of these financial statements

SYNCNET LIMITED

Balance sheet continued

As at 31 October 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,975 9,159
Shareholders funds: 2,075 9,259

For the year ending 31 October 2024 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 7 April 2025
And Signed On Behalf Of The Board By:

Name: Ayodeji Olakolu
Status: Director

The notes form part of these financial statements

SYNCNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts

SYNCNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 1 1

SYNCNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 3. Off balance sheet disclosure

    No

SYNCNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

4. Debtors


2024
£

2023
£
Other debtors 22,053 46,503
Total 22,053 46,503

SYNCNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

5.Creditors: amounts falling due within one year note


2024
£

2023
£
Taxation and social security 16,469 14,460
Accruals and deferred income 5,570 3,250
Other creditors 23,246
Total 22,039 40,956

SYNCNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

6.Creditors: amounts falling due after more than one year


2024
£

2023
£
Bank loans and overdrafts 8,389 17,389
Total 8,389 17,389