Company Registration number: 11348472

Synthesys Defence Limited

Contents

Pages

Balance sheet	1 to 2
Notes to the financial statements	3 to 7

Synthesys Defence Limited

Balance Sheet as at 31 December 2024

	Note	31 December 2024 £	31 March 2024 £
Fixed assets
Tangible assets	4	357,527	357,527
Current assets
Debtors	5	93,965	32,993
Cash at bank and in hand		25,111	1,000
		119,076	33,993
Creditors: Amounts falling due within one year	6	(236,168)	(397,584)
Net current liabilities		(117,092)	(363,591)
Total assets less current liabilities		240,435	(6,064)
Provisions for liabilities		(3,472)	(21,541)
Net assets/(liabilities)		236,963	(27,605)
Capital and reserves
Called up share capital		100	100
Retained earnings		236,863	(27,705)
Shareholders' funds/(deficit)		236,963	(27,605)

Synthesys Defence Limited

Balance Sheet as at 31 December 2024 (continued)

For the financial period 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 members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 11348472

Approved and authorised by the Board on 25 September 2025 and signed on its behalf by:
 

......................................... Mr K Canfield Director

Synthesys Defence Limited

Notes to the financial statements for the Period from 1 April 2024 to 31 December 2024

1	GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Dalmar House
Barras Lane Estate
Dalston
Carlisle
CA5 7NY

These financial statements were authorised for issue by the Board on 25 September 2025.

2	ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

These financial statements cover the period from 1 April 2024 to 31 December 2024, a period of 9 months. The change was made to align the company's year end date with that of another company in which one of the directors holds a significant interest, in order to streamline financial reporting and administrative processes.

The comparative figures presented relate to the 12 month period ended 31 March 2024. As a result, the amounts presented in the statement of income and retained earnings are not directly comparable due to the differing lengths of the reporting periods.

Summary of disclosure exemptions

The company has claimed exemption from preparing consolidated financial statements in accordance with Section 398 of the Companies Act 2006, as it qualifies as a small group.

Synthesys Defence Limited

Notes to the financial statements for the Period from 1 April 2024 to 31 December 2024 (continued)

2	ACCOUNTING POLICIES (continued)

Group accounts not prepared

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
 

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are initially recognised at cost, less any subsequent accumulated depreciation. The directors revalue the assets at each reporting date so as to present the fair value of each asset class.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Synthesys Defence Limited

Notes to the financial statements for the Period from 1 April 2024 to 31 December 2024 (continued)

2	ACCOUNTING POLICIES (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives. The directors have opted not to charge depreciation on the fixed assets in order to present the true and fair value.

Asset class	Depreciation method and rate
Other tangible assets	No charge

Intangible assets

Intangible assets are initially recognised at cost if it is probable that future economic benefits will flow to the entity and the cost can be measured reliably. After initial recognition, intangible assets are carried at fair value, determined by reference to an active market. Revaluations are performed regularly to ensure the carrying amount does not differ materially from fair value at the reporting date

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Synthesys Defence Limited

Notes to the financial statements for the Period from 1 April 2024 to 31 December 2024 (continued)

2	ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3	STAFF NUMBERS

The average number of persons employed by the company (including directors) during the period, was 4 (March 2024 - 4).

4	TANGIBLE ASSETS

	Other tangible assets  £	Total £
Cost or valuation
At 1 April 2024	357,527	357,527
At 31 December 2024	357,527	357,527
Depreciation
Carrying amount
At 31 December 2024	357,527	357,527
At 31 March 2024	357,527	357,527

Synthesys Defence Limited

Notes to the financial statements for the Period from 1 April 2024 to 31 December 2024 (continued)

5

DEBTORS

Current	31 December 2024 £	31 March 2024 £
Trade debtors	80,520	32,893
Prepayments	13,345	-
Other debtors	100	100
	93,965	32,993

6

CREDITORS

Creditors: amounts falling due within one year

	31 December 2024 £	31 March 2024 £
Due within one year
Loans and borrowings	40,834	-
Trade creditors	22,095	6,764
Amounts owed to group undertakings and undertakings in which the company has a participating interest	100,627	375,540
Taxation and social security	67,098	10,448
Accruals and deferred income	1,899	1,632
Other creditors	3,615	3,200
	236,168	397,584

Creditors include loans which are secured of £40,834 (March 2024 - £nil).