Synergy Associates Ltd Filleted accounts for Companies House (small and micro)

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).