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Company Registration No. 10424348 (England and Wales)
SYNCR Ltd Unaudited accounts for the year ended 31 October 2023
SYNCR Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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SYNCR Ltd Company Information for the year ended 31 October 2023
Directors
Ricky Hill Ronnie Wilson
Company Number
10424348 (England and Wales)
Registered Office
1 Station Road Newport TF10 7EW
Accountants
Sleek Accounting Ltd 4th Floor 205 Regent Street London W1B 4HB
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SYNCR Ltd Statement of financial position as at 31 October 2023
2023
2022
Notes
£
£
Fixed assets
Tangible assets
4
688
-
Current assets
Debtors
5
5,440
11,492
Cash at bank and in hand
16,035
29,912
21,475
41,404
Creditors: amounts falling due within one year
6
(8,199)
(8,775)
Net current assets
13,276
32,629
Total assets less current liabilities
13,964
32,629
Creditors: amounts falling due after more than one year
7
(2,866)
(4,803)
Net assets
11,098
27,826
Capital and reserves
Called up share capital
8
286
286
Share premium
282,309
282,309
Profit and loss account
(271,497)
(254,769)
Shareholders' funds
11,098
27,826
For the year ending 31 October 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2026 and were signed on its behalf by
Ricky Hill Director Company Registration No. 10424348
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SYNCR Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
SYNCR Ltd is a private company, limited by shares, registered in England and Wales, registration number 10424348. The registered office is 1 Station Road, Newport, TF10 7EW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
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SYNCR Ltd Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Computer equipment
£
Cost or valuation
At cost
At 1 November 2022
-
Additions
847
At 31 October 2023
847
Depreciation
Charge for the year
159
At 31 October 2023
159
Net book value
At 31 October 2023
688
5
Debtors
2023
2022
£
£
Amounts falling due within one year
Trade debtors
5,440
11,300
Other debtors
-
192
5,440
11,492
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,752
1,664
Taxes and social security
4,606
4,663
Other creditors
270
499
Loans from directors
1,571
1,949
8,199
8,775
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
2,866
4,803
8
Share capital
2023
2022
£
£
Allotted, called up and fully paid:
285,716 Ordinary shares of £0.001 each
285.71
285.71
9
Average number of employees
During the year the average number of employees was 1 (2022: 2).
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