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Registered number: 09035552
Synergy Access Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2024
32a East Street
St Ives
PE27 5PD
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 09035552
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 879,418 879,929
879,418 879,929
CURRENT ASSETS
Debtors 646,434 429,035
Cash at bank and in hand 36,260 52,676
682,694 481,711
Creditors: Amounts Falling Due Within One Year (330,749 ) (179,871 )
NET CURRENT ASSETS (LIABILITIES) 351,945 301,840
TOTAL ASSETS LESS CURRENT LIABILITIES 1,231,363 1,181,769
Creditors: Amounts Falling Due After More Than One Year (220,014 ) (223,467 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (83,942 ) (66,829 )
NET ASSETS 927,407 891,473
CAPITAL AND RESERVES
Called up share capital 6 200 100
Profit and Loss Account 927,207 891,373
SHAREHOLDERS' FUNDS 927,407 891,473
Page 1
Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Steven Wright
Director
30th September 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Synergy Access Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09035552 . The registered office is Regus Brentwood Jubilee House, 3 The Drive, Great Warley, Brentwood, CM13 3FR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Various
Motor Vehicles 25% Straight line
Mac Deck Equipment Various
Office Equipment 25% Straight line
Depreciation of plant and machinery and Mac Deck equipment
Steel and aluminium - 15% in the year of acquisition. Not depreciated thereafter as this type of asset retains its value after 1 year.
Timber - 15% in year of acquisition. 5% straight line over remaining life.
Mac Deck equipment - 15% in the year of acquisition. Not depreciated thereafter as this type of asset retains its value after 1 year.
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2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Total
£
Cost
As at 1 January 2024 1,338,620
Additions 33,737
As at 31 December 2024 1,372,357
...CONTINUED
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Page 5
Depreciation
As at 1 January 2024 458,691
Provided during the period 34,248
As at 31 December 2024 492,939
Net Book Value
As at 31 December 2024 879,418
As at 1 January 2024 879,929
5. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 88,577 83,057
Later than one year and not later than five years 113,933 201,041
202,510 284,098
202,510 284,098
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 100
7. Directors Advances, Credits and Guarantees
During the year the company made advances to a director totalling £141,650 (2023: £67,397) and repayments were made by the director totalling £101,750 (2023: £71,730). At the balance sheet date the director owed the company £79,250.53 (2023: £38,048). Interest of £1587.28 (2023: £667) has been charged on this balance. This balance is included within other debtors, is unsecured and repayable on demand.
8. Related Party Transactions
Included within other debtors is a balance due by Bushmead Estates Ltd, a company under common control, of £59,773 (2023: £30,615).
Included within other debtors is a balance due from Watch or Two Ltd, a company under common control, of £188,990 (2023: £188,990).
All balances are unsecured, interest free and repayable on demand.
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