Registered number
14538696
Synergy Construction Management Limited
Filleted Accounts
31 December 2024
Synergy Construction Management Limited
Registered number: 14538696
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 88,777 6,449
Current assets
Debtors 5 36,281 34,293
Cash at bank and in hand 212,586 141,399
248,867 175,692
Creditors: amounts falling due within one year 6 (135,701) (80,036)
Net current assets 113,166 95,656
Total assets less current liabilities 201,943 102,105
Provisions for liabilities 7 (20,386) -
Net assets 181,557 102,105
Capital and reserves
Called up share capital 150 150
Profit and loss account 181,407 101,955
Shareholders' funds 181,557 102,105
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Neil McCarthy
Director
Approved by the board on 3 June 2025
Synergy Construction Management Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset using the reducing balance method, as follows:
Plant and machinery 20%
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Capital Grants
Capital grants are recognised when there is reasonable assurance that the conditions attaching to the grant will be complied with and the grant will be received. Such grants are accounted for using the deferred income method. The grant is initially recognised as deferred income and released to the profit and loss account on a systematic basis over the useful life of the related asset to match the depreciation expense.
2 Tax on profit 2024 2023
£ £
Current Tax:
UK current tax expense 81,388 60,538
Deferred tax:
Origination and reversal of timing differences 20,387 -
101,775 60,538
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 2
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 8,061
Additions 104,522
At 31 December 2024 112,583
Depreciation
At 1 January 2024 1,612
Charge for the year 22,194
At 31 December 2024 23,806
Net book value
At 31 December 2024 88,777
At 31 December 2023 6,449
5 Debtors 2024 2023
£ £
Trade debtors 36,231 19,186
Other debtors 50 15,107
36,281 34,293
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 14,056 3,147
Corporation Tax 81,388 60,538
Taxation and social security costs 22,685 -
Deferred Income 2,230 -
Other creditors 15,342 16,351
135,701 80,036
7 Deferred tax 2024 2023
£ £
The deferred tax in the balance sheet is as follows:
Included in Provisions 20,386 -
20,386 -
The deferred tax account consists of the tax effect of timing differences in respect of accelerated capital allowances.
8 Other information
Synergy Construction Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
Number One, Waterton Park
Waterton
Bridgend
CF15 3PH
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