Cynergy UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05290700 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Cynergy UK Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs R J L Howard

REGISTERED OFFICE:

Ranyell House

10 Ellerbeck Way

Stokesley Business Park

Stokesley

Middlesbrough

TS9 5JZ

REGISTERED NUMBER:

05290700 (England and Wales)

ACCOUNTANTS:

Davies Tracey

Chartered Accountants and Business Advisers

Swan House

Westpoint Road

Teesdale Business Park

Stockton on Tees

TS17 6BP

FIXED ASSETS

Intangible assets

4

906,122

1,057,142

Tangible assets

5

11,507

17,764

917,629

1,074,906

CURRENT ASSETS

Debtors

203,785

244,484

Cash at bank and in hand

399,079

106,587

602,864

351,071

CREDITORS

Amounts falling due within one year

569,139

546,353

NET CURRENT ASSETS/(LIABILITIES)

33,725

(195,282

)

TOTAL ASSETS LESS CURRENT LIABILITIES

951,354

879,624

CREDITORS

Amounts falling due after more than one year

1,001,437

1,002,851

NET LIABILITIES

(50,083

)

(123,227

)

CAPITAL AND RESERVES

Allotted, called up and fully paid share capital

100

100

Retained earnings

(50,183

)

(123,327

)

SHAREHOLDERS' FUNDS

(50,083

)

(123,227

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 26 February 2019 and were signed by:

Mrs R J L Howard - Director

1.	STATUTORY INFORMATION

Cynergy 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 presentation currency of the financial statements is the Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been drawn up on a going concern basis which is based upon the continued support of the

director.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added

Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the

year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going

services is recognised by reference to the stage of completion.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 25% on cost

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.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The

capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account at a

constant rate of charge on the balance of capital repayments outstanding.

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 7 (2017 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

and 31 May 2018

1,850,000

AMORTISATION

At 1 June 2017

792,858

Amortisation for year

151,020

At 31 May 2018

943,878

NET BOOK VALUE

At 31 May 2018

906,122

At 31 May 2017

1,057,142

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

30,991

Additions

782

At 31 May 2018

31,773

DEPRECIATION

At 1 June 2017

13,227

Charge for year

7,039

At 31 May 2018

20,266

NET BOOK VALUE

At 31 May 2018

11,507

At 31 May 2017

17,764

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

2,851

4,242

Hire purchase contracts are secured on the assets to which they relate.