Silverfin false false 31/01/2025 31/10/2023 31/01/2025 Mr J R Lucas 31/10/2023 Mr P Shipway 31/10/2023 Mr T P Szpinda 31/10/2023 Mr L N Wynn 31/10/2023 Mr P Shipway 03 June 2025 The company was incorporated on 31 October 2023 and is not yet trading. The principal activity of the Company during the financial period was that of software development. 15248870 2025-01-31 15248870 bus:Director1 2025-01-31 15248870 bus:Director2 2025-01-31 15248870 bus:Director3 2025-01-31 15248870 bus:Director4 2025-01-31 15248870 core:CurrentFinancialInstruments 2025-01-31 15248870 core:ShareCapital 2025-01-31 15248870 core:RetainedEarningsAccumulatedLosses 2025-01-31 15248870 bus:OrdinaryShareClass1 2025-01-31 15248870 bus:OrdinaryShareClass2 2025-01-31 15248870 bus:OrdinaryShareClass3 2025-01-31 15248870 bus:OrdinaryShareClass4 2025-01-31 15248870 bus:OrdinaryShareClass5 2025-01-31 15248870 2023-10-31 2025-01-31 15248870 bus:FilletedAccounts 2023-10-31 2025-01-31 15248870 bus:SmallEntities 2023-10-31 2025-01-31 15248870 bus:AuditExemptWithAccountantsReport 2023-10-31 2025-01-31 15248870 bus:PrivateLimitedCompanyLtd 2023-10-31 2025-01-31 15248870 bus:Director1 2023-10-31 2025-01-31 15248870 bus:Director2 2023-10-31 2025-01-31 15248870 bus:Director3 2023-10-31 2025-01-31 15248870 bus:Director4 2023-10-31 2025-01-31 15248870 bus:CompanySecretary1 2023-10-31 2025-01-31 15248870 core:CurrentFinancialInstruments 2023-10-31 2025-01-31 15248870 bus:OrdinaryShareClass1 2023-10-31 2025-01-31 15248870 bus:OrdinaryShareClass2 2023-10-31 2025-01-31 15248870 bus:OrdinaryShareClass3 2023-10-31 2025-01-31 15248870 bus:OrdinaryShareClass4 2023-10-31 2025-01-31 15248870 bus:OrdinaryShareClass5 2023-10-31 2025-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 15248870 (England and Wales)

SYNCII LTD

Unaudited Financial Statements
For the financial period from 31 October 2023 to 31 January 2025
Pages for filing with the registrar

SYNCII LTD

Unaudited Financial Statements

For the financial period from 31 October 2023 to 31 January 2025

Contents

SYNCII LTD

STATEMENT OF FINANCIAL POSITION

As at 31 January 2025
SYNCII LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2025
Note 31.01.2025
£
Current assets
Debtors 3 7
Cash at bank and in hand 373
380
Creditors: amounts falling due within one year 4 ( 4,860)
Net current liabilities (4,480)
Total assets less current liabilities (4,480)
Net liabilities ( 4,480)
Capital and reserves
Called-up share capital 5 4
Profit and loss account ( 4,484 )
Total shareholders' deficit ( 4,480)

For the financial period ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Syncii Ltd (registered number: 15248870) were approved and authorised for issue by the Board of Directors on 03 June 2025. They were signed on its behalf by:

Mr P Shipway
Director
SYNCII LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 31 October 2023 to 31 January 2025
SYNCII LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 31 October 2023 to 31 January 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Syncii Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, EX5 1GD, United Kingdom. The principal place of business is George Parker Bidder Building, Babbage Way, Clyst Honiton, Exeter, EX5 2FN.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £4,480. The Company is supported through loans from an associated Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the associated Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period length of this financial period is 15 months from the date of incorporation to 31 January 2025.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
31.10.2023 to
31.01.2025
Number
Monthly average number of persons employed by the Company during the period, including directors 4

3. Debtors

31.01.2025
£
VAT recoverable 3
Other debtors 4
7

4. Creditors: amounts falling due within one year

31.01.2025
£
Trade creditors 50
Amounts owed to associates 2,710
Accruals 2,100
4,860

There are no amounts included above in respect of which any security has been given by the small entity.

5. Called-up share capital

31.01.2025
£
Allotted, called-up and fully-paid
9,357 Ordinary A shares of £ 0.0001 each 0.94
9,357 Ordinary B shares of £ 0.0001 each 0.94
9,357 Ordinary C shares of £ 0.0001 each 0.94
5,505 Ordinary D shares of £ 0.0001 each 0.55
3,921 Ordinary E shares of £ 0.0001 each 0.39
3.76

Upon incorporation, 9357 Ordinary A Shares, 9357 Ordinary B Shares, 9357 Ordinary C Shares, 5505 Ordinary D Shares and 3124 Ordinary E shares of £0.0001 each were allotted at par.

On 12 August 2024, a further 797 Ordinary E shares were allotted at par.

6. Related party transactions

Other related party transactions

31.01.2025
£
Amounts due to associates 2,710

There are no set repayment terms and the accounts are interest-free.