REGISTERED NUMBER: 08911884 (England and Wales)

SYNERGY HARDWARE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

N H Morgan

Mrs J Morgan

REGISTERED OFFICE:

3 Lyttleton Court

Birmingham Street

Halesowen

West Midlands

B63 3HN

REGISTERED NUMBER:

08911884 (England and Wales)

ACCOUNTANTS:

CUTTER & CO LTD

CHARTERED ACCOUNTANTS

3 Lyttleton Court

Birmingham Street

Halesowen

West Midlands

B63 3HN

FIXED ASSETS

Tangible assets

4

87,609

68,308

CURRENT ASSETS

Stocks

610,916

656,877

Debtors

5

471,208

398,339

Cash at bank and in hand

251,920

66,716

1,334,044

1,121,932

CREDITORS

Amounts falling due within one year

6

492,360

292,236

NET CURRENT ASSETS

841,684

829,696

TOTAL ASSETS LESS CURRENT LIABILITIES

929,293

898,004

CREDITORS

Amounts falling due after more than one year

7

(706,953

)

(757,350

)

PROVISIONS FOR LIABILITIES

9

(17,882

)

(15,082

)

NET ASSETS

204,458

125,572

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

204,356

125,470

204,458

125,572

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th September 2025 and were signed on its behalf by:

N H Morgan - Director

1.	STATUTORY INFORMATION

Synergy Hardware Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The stock figure takes into account all goods in the company's ownership at the balance sheet date - including goods in transit, with stock otherwise being treated as an expense in the same period in which the related revenue is recognised.

Financial instruments

The company has opted to apply the exemption from the provisions of Section 11 'Basic Financial Instruments' of FRS102 in respect of all of its financial instruments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Computer

Fixtures

and

Plant and

and

Motor

office

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2024

51,308

11,085

58,440

-

120,833

Additions

23,199

11,514

-

7,080

41,793

At 31st December 2024

74,507

22,599

58,440

7,080

162,626

DEPRECIATION

At 1st January 2024

34,074

2,102

16,349

-

52,525

Charge for year

8,463

2,836

10,523

670

22,492

At 31st December 2024

42,537

4,938

26,872

670

75,017

NET BOOK VALUE

At 31st December 2024

31,970

17,661

31,568

6,410

87,609

At 31st December 2023

17,234

8,983

42,091

-

68,308

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

368,387

327,516

Other debtors

102,821

70,823

471,208

398,339

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts (see note 8)

4,185

-

Trade creditors

269,079

92,002

Taxation and social security

133,900

115,203

Other creditors

75,196

75,031

492,360

292,236

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

5,000

15,000

Hire purchase contracts (see note 8)

7,473

-

Other creditors

694,480

742,350

706,953

757,350

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024

2023

£

£

Net obligations repayable:

Within one year

4,185

-

Between one and five years

7,473

-

11,658

-

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

17,882

15,082

Deferred

tax

£

Balance at 1st January 2024

15,082

Provided during year

2,800

Balance at 31st December 2024

17,882

10.	RELATED PARTY DISCLOSURES

There have been no transactions during the year with related parties which have not been conducted under normal market conditions.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is N H Morgan.