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COMPANY REGISTRATION NUMBER: 05832415

Synergy Associates Ltd

Filleted Unaudited Financial Statements

31 December 2024

Synergy Associates Ltd

Statement of Financial Position

31 December 2024

| 2024 | 2023
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 301,363 | 317,802
Investments | 6 |  | 1,213,510 | 1,007,397
|  | ------------ | ------------
|  | 1,514,873 | 1,325,199

Current assets

Stocks | 3,354 |  | 108,479
Debtors | 7 | 680,733 |  | 1,086,687
Cash at bank and in hand | 67,861 |  | 130,228
| --------- |  | ------------
| 751,948 |  | 1,325,394

Creditors: amounts falling due within one year | 8 | 608,954 |  | 778,984
| --------- |  | ------------
Net current assets |  | 142,994 | 546,410
|  | ------------ | ------------
Total assets less current liabilities |  | 1,657,867 | 1,871,609

Creditors: amounts falling due after more than one year | 9 |  | 180,208 | 309,375
|  | ------------ | ------------
Net assets |  | 1,477,659 | 1,562,234
|  | ------------ | ------------

Capital and reserves

Called up share capital |  | 133 | 133
Share premium account |  | 533,247 | 533,247
Profit and loss account |  | 944,279 | 1,028,854
|  | ------------ | ------------
Shareholders funds |  | 1,477,659 | 1,562,234
|  | ------------ | ------------

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 members have 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 Associates Ltd

Statement of Financial Position (continued)

31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 5 November 2025 , and are signed on behalf of the board by:

Mr A H M Caplan
Director

Company registration number: 05832415

Synergy Associates Ltd

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 60 Pall Mall, London, SW1Y 5HZ.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:

| Fixtures and Fittings | - | 25% straight line
| Website and Software | - | 25% straight line
| Motor Vehicles | - | 20% straight line
| Furniture and Equipment | - | 25% straight line

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 28 (2023: 29 ).
5. Tangible assets

| Plant and machinery | Website and Software | Motor vehicles | Furniture & Office Equipment | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 January 2024 | 371,378 | 29,638 | 46,158 | 169,946 | 617,120
Additions | 10,432 | – | 47,500 | 52,382 | 110,314
| --------- | -------- | -------- | --------- | ---------
At 31 December 2024 | 381,810 | 29,638 | 93,658 | 222,328 | 727,434
| --------- | -------- | -------- | --------- | ---------
Depreciation |  |  |  |  |
At 1 January 2024 | 133,841 | 29,638 | 6,924 | 128,915 | 299,318
Charge for the year | 92,062 | – | 12,398 | 22,293 | 126,753
| --------- | -------- | -------- | --------- | ---------
At 31 December 2024 | 225,903 | 29,638 | 19,322 | 151,208 | 426,071
| --------- | -------- | -------- | --------- | ---------
Carrying amount |  |  |  |  |
At 31 December 2024 | 155,907 | – | 74,336 | 71,120 | 301,363
| --------- | -------- | -------- | --------- | ---------
At 31 December 2023 | 237,537 | – | 39,234 | 41,031 | 317,802
| --------- | -------- | -------- | --------- | ---------

6. Investments

| Shares in group undertakings
| £
Cost |
At 1 January 2024 | 1,007,397
Additions | 206,113
| ------------
At 31 December 2024 | 1,213,510
| ------------
Impairment |
At 1 January 2024 and 31 December 2024 | –
| ------------

Carrying amount |
At 31 December 2024 | 1,213,510
| ------------
At 31 December 2023 | 1,007,397
| ------------

7. Debtors

| 2024 | 2023
| £ | £
Trade debtors | 223,415 | 349,213
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 304,209 | 575,823
Other debtors | 153,109 | 161,651
| --------- | ------------
| 680,733 | 1,086,687
| --------- | ------------

8. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 137,864 | 307,595
Trade creditors | 94,145 | 123,037
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 73,477 | 168,871
Social security and other taxes | 67,901 | 84,187
Other creditors | 235,567 | 95,294
| --------- | ---------
| 608,954 | 778,984
| --------- | ---------

9. Creditors: amounts falling due after more than one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 180,208 | 309,375
| --------- | ---------

10. Related party transactions
During the year, the company received management charges from Synergy Associates Inc., a subsidiary company incorporated in the US, £966,129 (2023: £530,153).