4 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 40,200 40,200 40,200 xbrli:pure xbrli:shares iso4217:GBP 08284828 2024-01-01 2024-12-31 08284828 2024-12-31 08284828 2023-12-31 08284828 2023-01-01 2023-12-31 08284828 2023-12-31 08284828 2022-12-31 08284828 core:PlantMachinery 2024-01-01 2024-12-31 08284828 core:MotorVehicles 2024-01-01 2024-12-31 08284828 bus:Director1 2024-01-01 2024-12-31 08284828 core:PlantMachinery 2023-12-31 08284828 core:MotorVehicles 2023-12-31 08284828 core:PlantMachinery 2024-12-31 08284828 core:MotorVehicles 2024-12-31 08284828 core:WithinOneYear 2024-12-31 08284828 core:WithinOneYear 2023-12-31 08284828 core:AfterOneYear 2024-12-31 08284828 core:AfterOneYear 2023-12-31 08284828 core:ShareCapital 2024-12-31 08284828 core:ShareCapital 2023-12-31 08284828 core:RetainedEarningsAccumulatedLosses 2024-12-31 08284828 core:RetainedEarningsAccumulatedLosses 2023-12-31 08284828 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-12-31 08284828 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 08284828 core:Non-currentFinancialInstruments 2024-12-31 08284828 core:PlantMachinery 2023-12-31 08284828 core:MotorVehicles 2023-12-31 08284828 bus:SmallEntities 2024-01-01 2024-12-31 08284828 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08284828 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08284828 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08284828 bus:FullAccounts 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: 08284828
Synergy Managed Services Limited
Filleted Unaudited Financial Statements
31 December 2024
Synergy Managed Services Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
77,664
57,062
Investments
6
40,200
---------
--------
117,864
57,062
Current assets
Stocks
3,000
1,500
Debtors
7
102,814
124,303
Cash at bank and in hand
63,356
73,836
---------
---------
169,170
199,639
Creditors: amounts falling due within one year
8
67,595
93,354
---------
---------
Net current assets
101,575
106,285
---------
---------
Total assets less current liabilities
219,439
163,347
Creditors: amounts falling due after more than one year
9
91,603
16,182
Provisions
Taxation including deferred tax
14,756
10,842
---------
---------
Net assets
113,080
136,323
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
112,980
136,223
---------
---------
Shareholder funds
113,080
136,323
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Synergy Managed Services Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 13 August 2025 , and are signed on behalf of the board by:
Mr N A Wilson
Director
Company registration number: 08284828
Synergy Managed Services Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 78 Min Awel, Flint, Flintshire, CH6 5TG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company accounting policies.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced for the supply of managed business services in the year, exclusive of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
33% straight line
Motor Vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 January 2024
53,267
66,347
119,614
Additions
1,157
86,365
87,522
Disposals
( 5,263)
( 57,142)
( 62,405)
--------
--------
---------
At 31 December 2024
49,161
95,570
144,731
--------
--------
---------
Depreciation
At 1 January 2024
32,318
30,234
62,552
Charge for the year
8,531
23,118
31,649
Disposals
( 27,134)
( 27,134)
--------
--------
---------
At 31 December 2024
40,849
26,218
67,067
--------
--------
---------
Carrying amount
At 31 December 2024
8,312
69,352
77,664
--------
--------
---------
At 31 December 2023
20,949
36,113
57,062
--------
--------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 January 2024
Additions
40,200
--------
At 31 December 2024
40,200
--------
Impairment
At 1 January 2024 and 31 December 2024
--------
Carrying amount
At 31 December 2024
40,200
--------
At 31 December 2023
--------
7. Debtors
2024
2023
£
£
Trade debtors
49,280
101,738
Other debtors
53,534
22,565
---------
---------
102,814
124,303
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
22,105
12,667
Trade creditors
15,574
16,111
Social security and other taxes
19,170
47,913
Other creditors
10,746
16,663
--------
--------
67,595
93,354
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
42,603
16,182
Other creditors
49,000
--------
--------
91,603
16,182
--------
--------
10. Directors' advances, credits and guarantees
The director operates a current account with the company . As follows:
2024
£
Opening Balance 1,018
Movement (19,546)
--------
Closing Balance (18,528)
--------
This loan is repayable on demand. Interest is charged at 2.25% per annum.
11. Related party transactions
At the year end a balance of £13,853 was due from an entity which the company has significant influence over (2023 £0 was due from an entity which the company has significant influence over). No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102 section 33.