REGISTERED NUMBER: 08822734 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

SYNOPTEK UK LIMITED

Page

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Financial Statements

4

DIRECTOR:

T Britt

REGISTERED OFFICE:

6th Floor

One London Wall

London

EC2Y 5EB

REGISTERED NUMBER:

08822734 (England and Wales)

AUDITORS:

Gravita Audit Western Limited

Chartered Accountants and Statutory Auditors

2nd Floor, South

One Castle Park

Tower Hill

Bristol

BS2 0JA

CURRENT ASSETS

Debtors

4

1,108,036

1,103,542

Cash at bank

10,420

19,411

1,118,456

1,122,953

CREDITORS

Amounts falling due within one year

5

(5,960

)

(16,127

)

NET CURRENT ASSETS

1,112,496

1,106,826

TOTAL ASSETS LESS CURRENT LIABILITIES

1,112,496

1,106,826

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,112,495

1,106,825

SHAREHOLDERS' FUNDS

1,112,496

1,106,826

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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 20 May 2026 and were signed by:

T Britt - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

1

1,119,313

1,119,314

Changes in equity

Deficit for the year

-

(12,488

)

(12,488

)

Total comprehensive income

-

(12,488

)

(12,488

)

Balance at 31 December 2023

1

1,106,825

1,106,826

Changes in equity

Profit for the year

-

5,670

5,670

Total comprehensive income

-

5,670

5,670

Balance at 31 December 2024

1

1,112,495

1,112,496

1.	COMPANY INFORMATION

Synoptek UK 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.

The company's principal activities and nature of its operations are the provision of information systems consulting and management services.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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 on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis. The director has reviewed and considered relevant information, including the annual budget and future cash flows in making his assessment. Based on those assessments the director has concluded that he can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover

Revenue from the rendering of services is measured by reference of the stage of completion of the service transaction at the end of the reporting period provided that outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies

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 average rate of exchange during the year. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

1,108,036

1,098,922

Tax

-

2,930

VAT

-

1,690

1,108,036

1,103,542

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

9,397

Tax

1,760

-

Accruals and deferred income

4,200

6,730

5,960

16,127

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Bracher BSc FCA (Senior Statutory Auditor)

for and on behalf of Gravita Audit Western Limited

7.	RELATED PARTY DISCLOSURES

The company is a 100% subsidiary undertaking of Synoptek LLC, a company registered in USA.

Management service charges of £nil (2023: £120,424) were attributable to its parent entity, Synoptek LLC. At the year end date Synoptek UK Limited was owed the sum of £1,108,036 (2023: £1,098,922) by Synoptek LLC. The loan is interest free and has no set date of repayment.