REGISTERED NUMBER: 06166874 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SYNERGY VISION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

F Dawber

S Ferris

K B Mcainsh

REGISTERED OFFICE:

55 Loudoun Road

St. John's Wood

London

NW8 0DL

REGISTERED NUMBER:

06166874 (England and Wales)

ACCOUNTANTS:

MGR Weston Kay LLP

55 Loudoun Road

St John's Wood

London

NW8 0DL

BANKERS:

HSBC Bank Plc

50-52 Kilburn High Road

Kilburn

NW6 4HJ

FIXED ASSETS

Tangible assets

4

19,207

45,521

Investments

5

50

50

19,257

45,571

CURRENT ASSETS

Debtors

6

968,698

1,672,973

Cash at bank and in hand

259,670

439,565

1,228,368

2,112,538

CREDITORS

Amounts falling due within one year

7

(846,690

)

(1,635,673

)

NET CURRENT ASSETS

381,678

476,865

TOTAL ASSETS LESS CURRENT LIABILITIES

400,935

522,436

PROVISIONS FOR LIABILITIES

9

(4,802

)

(11,380

)

NET ASSETS

396,133

511,056

CAPITAL AND RESERVES

Called up share capital

10

12

12

Share premium

67,125

67,125

Retained earnings

328,996

443,919

SHAREHOLDERS' FUNDS

396,133

511,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 8 October 2025 and were signed on its behalf by:

F Dawber - Director

1.	STATUTORY INFORMATION

Synergy Vision 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.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover represents the value of goods and services provided by the company net of value added tax.

Gross profit on long term contracts is recognised based upon the stage of completion of the contract at the end of the reporting period which is assessed by comparing contract costs to date to total expected contract costs as per FRS102 Section 23.

Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets

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

Long leasehold

-

evenly over the period of the lease

Fixtures and fittings

-

Straight line over 4 years

Motor vehicles

-

Straight line over 4 years

Computer equipment

-

Straight line over 3 years

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investments in subsidiaries

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Financial instruments

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at

transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in 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 payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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 43 (2024 - 44 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

182,325

146,055

125,773

60,285

514,438

Additions

-

2,250

-

12,039

14,289

At 31 March 2025

182,325

148,305

125,773

72,324

528,727

DEPRECIATION

At 1 April 2024

182,325

143,170

102,592

40,830

468,917

Charge for year

-

2,191

23,181

15,231

40,603

At 31 March 2025

182,325

145,361

125,773

56,061

509,520

NET BOOK VALUE

At 31 March 2025

-

2,944

-

16,263

19,207

At 31 March 2024

-

2,885

23,181

19,455

45,521

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

50

NET BOOK VALUE

At 31 March 2025

50

At 31 March 2024

50

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

414,587

1,087,841

Amounts owed by group undertakings

357,496

368,193

Other debtors

196,615

216,939

968,698

1,672,973

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

105,894

206,994

Amounts owed to group undertakings

86,415

307,962

Taxation and social security

47,513

127,609

Other creditors

606,868

993,108

846,690

1,635,673

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

10,844

34,285

Between one and five years

-

10,844

10,844

45,129

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

4,802

11,380

Deferred

tax

£

Balance at 1 April 2024

11,380

Credit to Income Statement during year

(6,578

)

Balance at 31 March 2025

4,802

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1,000

Ordinary A ahares

0.01

10

10

250

Ordinary B ahares

0.01

2

2

12

12

11.	RELATED PARTY DISCLOSURES

Synergy Vision Holdings Limited, the company's parent company received dividends from the company during the year totalling £250,017 (2024: £609,985). The amount due from Synergy Vision Holdings Limited was £92,390 (2024: £77,390).

Synergy Vision Limited and SVRX Limited are the subsidiaries of Synergy Vision Holdings Limited. During the year, Synergy Vision Limited provided services of £492,650 (2024: £277,160) to SVRX Limited. At the year end an amount of £86,415 (2024: £307,962) was due to SVRX Limited from Synergy Vision Limited.

Synergy Vision (Asia Pacific) PTY Limited is a subsidiary of Synergy Vision Limited. During the year Synergy Vision Limited provided services of £789,951 (2024: £529,690) to Synergy Vision (Asia Pacific) PTY Limited. During the year Synergy Vision (Asia Pacific) PTY Limited provided services of £71,519 (2024: £101,535) to Synergy Vision Limited. At the year end an amount of £265,106 (2024: £290,803) was due from Synergy Vision (Asia Pacific) PTY Limited to Synergy Vision Limited.

12.	PARENT COMPANY

The ultimate parent company is Synergy Vision Trustees Limited, a company incorporated in England and Wales, registration number 13193672. Its registered office is 55 Loudoun Road, St. John's Wood, London, United Kingdom, NW8 0DL.