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Registered number: 08990678
SymcLean Industrial Limited
Financial Statements
For The Year Ended 28 May 2025
Gow & Partners Ltd
Unit 4 Dalton Court
Commercial Road
Darwen
Lancashire
BB3 0DG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08990678
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 168,042 177,292
Tangible Assets 5 275,126 265,162
443,168 442,454
CURRENT ASSETS
Stocks 6 2,063 2,063
Debtors 7 741,977 876,637
Cash at bank and in hand 19,864 470
763,904 879,170
Creditors: Amounts Falling Due Within One Year 8 (1,092,877 ) (988,524 )
NET CURRENT ASSETS (LIABILITIES) (328,973 ) (109,354 )
TOTAL ASSETS LESS CURRENT LIABILITIES 114,195 333,100
Creditors: Amounts Falling Due After More Than One Year 9 (87,340 ) (325,878 )
NET ASSETS 26,855 7,222
CAPITAL AND RESERVES
Called up share capital 11 175 175
Profit and Loss Account 26,680 7,047
SHAREHOLDERS' FUNDS 26,855 7,222
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For the year ending 28 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
On behalf of the board
Mr Gary Targett
Director
14/07/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
SymcLean Industrial Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08990678 . The registered office is Unit 9-10 The Hub, Commercial Road, Darwen, BB3 0FL.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. 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:
Freehold
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings
Computer Equipment 25% Reducing Balance
2.5. 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.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. 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: 184 (2024: 170)
184 170
4. Intangible Assets
Goodwill
£
Cost
As at 29 May 2024 195,000
As at 28 May 2025 195,000
Amortisation
As at 29 May 2024 17,708
Provided during the period 9,250
As at 28 May 2025 26,958
Net Book Value
As at 28 May 2025 168,042
As at 29 May 2024 177,292
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 29 May 2024 218,883 111,305 38,800 4,532 373,520
Additions 1,800 53,370 - 1,322 56,492
As at 28 May 2025 220,683 164,675 38,800 5,854 430,012
...CONTINUED
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Depreciation
As at 29 May 2024 39,830 65,237 - 3,291 108,358
Provided during the period 26,903 19,067 - 558 46,528
As at 28 May 2025 66,733 84,304 - 3,849 154,886
Net Book Value
As at 28 May 2025 153,950 80,371 38,800 2,005 275,126
As at 29 May 2024 179,053 46,068 38,800 1,241 265,162
6. Stocks
2025 2024
£ £
Stock 2,063 2,063
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 488,920 600,205
Other debtors 253,057 276,432
741,977 876,637
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 9,049 -
Trade creditors 34,746 19,011
Bank loans and overdrafts 154,510 55,314
Other creditors 178,589 432,136
Taxation and social security 715,983 482,063
1,092,877 988,524
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 4,408 -
Bank loans 82,932 325,878
87,340 325,878
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10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,049 -
Later than one year and not later than five years 4,408 -
13,457 -
13,457 -
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 175 175
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 29 May 2024 Amounts advanced Amounts repaid Amounts written off As at 28 May 2025
£ £ £ £ £
Mrs Tanya Targett 135,325 - - - -
The above loan is unsecured, interest free and repayable on demand.
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