Company No:
Contents
| Note | 31.01.2025 | |
| £ | ||
| Current assets | ||
| Debtors | 3 |
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| Cash at bank and in hand |
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| 380 | ||
| Creditors: amounts falling due within one year | 4 | (
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| Net current liabilities | (4,480) | |
| Total assets less current liabilities | (4,480) | |
| Net liabilities | (
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| Capital and reserves | ||
| Called-up share capital | 5 |
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| Profit and loss account | (
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| Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of Syncii Ltd (registered number:
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Mr P Shipway
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
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 £.
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.
The reporting period length of this financial period is 15 months from the date of incorporation to 31 January 2025.
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.
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
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.
| Period from 31.10.2023 to 31.01.2025 |
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| Number | |
| Monthly average number of persons employed by the Company during the period, including directors |
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| 31.01.2025 | |
| £ | |
| VAT recoverable |
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| Other debtors |
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| 31.01.2025 | |
| £ | |
| Trade creditors |
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| Amounts owed to associates |
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| Accruals |
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| 31.01.2025 | |
| £ | |
| Allotted, called-up and fully-paid | |
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| 3.76 |
On 12 August 2024, a further 797 Ordinary E shares were allotted at par.
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.