Synergy Lighting Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04622522 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

SYNERGY LIGHTING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Jackson

Mr R J Dooley

SECRETARIES:

Mrs L J Jackson

Mrs S Adams

Mrs H C Pawley

REGISTERED OFFICE:

12 Romney Place

Maidstone

Kent

ME15 6LE

REGISTERED NUMBER:

04622522 (England and Wales)

ACCOUNTANTS:

Mackenzies Accountants Limited

Chartered Accountants

12 Romney Place

Maidstone

Kent

ME15 6LE

FIXED ASSETS

Tangible assets

4

26,558

9,427

CURRENT ASSETS

Stocks

5

79,348

67,577

Debtors

6

713,816

212,153

Cash at bank and in hand

69,051

438,947

862,215

718,677

CREDITORS

Amounts falling due within one year

7

417,770

351,985

NET CURRENT ASSETS

444,445

366,692

TOTAL ASSETS LESS CURRENT LIABILITIES

471,003

376,119

PROVISIONS FOR LIABILITIES

8

5,046

1,602

NET ASSETS

465,957

374,517

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

465,955

374,515

SHAREHOLDERS' FUNDS

465,957

374,517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 December 2020 and were signed on its behalf by:

Mr P Jackson - Director

1.	STATUTORY INFORMATION

Synergy Lighting Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 4 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2019

12,568

Additions

25,985

At 31 March 2020

38,553

DEPRECIATION

At 1 April 2019

3,141

Charge for year

8,854

At 31 March 2020

11,995

NET BOOK VALUE

At 31 March 2020

26,558

At 31 March 2019

9,427

5.

STOCKS

2020

2019

£

£

Stocks

79,348

67,577

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

164,687

196,634

Amounts owed by group undertakings

545,703

-

VAT

3,426

15,519

713,816

212,153

Amounts owed by group undertakings represents:

- Owed by Eclipse (Distributors) Limited (a group company) £395,703 (2019: £Nil);

- Owed by Darap Limited (a parent company) £150,000 (2019: £Nil).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

343,452

241,618

Tax

65,577

103,599

Social security and other taxes

2,100

1,312

Accrued expenses

6,641

5,456

417,770

351,985

Trade creditors includes an amount of £Nil (2019: £112,483) owed to Eclipse (Distributors) Limited a group company.

8.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

5,046

1,602

Deferred

tax

£

Balance at 1 April 2019

1,602

Accelerated capital allowances

3,444

Balance at 31 March 2020

5,046

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Retained

earnings

£

At 1 April 2019

374,515

Profit for the year

291,440

Dividends

(200,000

)

At 31 March 2020

465,955

11.	RELATED PARTY DISCLOSURES

During the year, the company made payments to Eclipse (Distributors) Limited in respect of premises rent and rates and contributions to other overheads of £86,140 (2019: £292,649).

The above transactions were at market rates.

During the year the company advanced loans to Darap Limited (a parent company) amounting to £150,000 (2019: £Nil). Additionally an amount of £395,703 (2019: £Nil) was due from Eclipse (Distributors) Limited at the year end.

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party. Richard Pawley, David Adams and Paul Jackson between them hold the majority share capital of R & H Pawley Ltd, D & S Adams Ltd and P & L Jackson Ltd respectively which in turn holds 80% of the share capital of Darap Limited, the parent company of Synergy Lighting Limited.