Syntech Research UK Limited Filleted accounts for Companies House (small and micro)

SYNTECH RESEARCH UK LIMITED - Company Information

9 false false false false false false false false false true false false false false false false No description of principal activity 2020-01-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 04611914 2020-01-01 2020-12-31 04611914 2020-12-31 04611914 2019-12-31 04611914 2019-01-01 2019-12-31 04611914 2019-12-31 04611914 core:LandBuildings core:LongLeaseholdAssets 2020-01-01 2020-12-31 04611914 core:FurnitureFittings 2020-01-01 2020-12-31 04611914 core:MotorVehicles 2020-01-01 2020-12-31 04611914 bus:Director1 2020-01-01 2020-12-31 04611914 core:LandBuildings core:LongLeaseholdAssets 2019-12-31 04611914 core:FurnitureFittings 2019-12-31 04611914 core:MotorVehicles 2019-12-31 04611914 core:LandBuildings core:LongLeaseholdAssets 2020-12-31 04611914 core:FurnitureFittings 2020-12-31 04611914 core:MotorVehicles 2020-12-31 04611914 core:WithinOneYear 2020-12-31 04611914 core:RestatedAmount core:WithinOneYear 2019-12-31 04611914 core:AfterOneYear 2019-12-31 04611914 core:WithinOneYear 2019-12-31 04611914 core:ShareCapital 2020-12-31 04611914 core:ShareCapital 2019-12-31 04611914 core:SharePremium 2020-12-31 04611914 core:SharePremium 2019-12-31 04611914 core:RetainedEarningsAccumulatedLosses 2020-12-31 04611914 core:RestatedAmount core:RetainedEarningsAccumulatedLosses 2019-12-31 04611914 core:RestatedAmount 2019-12-31 04611914 core:LandBuildings core:LongLeaseholdAssets 2019-12-31 04611914 core:FurnitureFittings 2019-12-31 04611914 core:MotorVehicles 2019-12-31 04611914 bus:SmallEntities 2020-01-01 2020-12-31 04611914 bus:Audited 2020-01-01 2020-12-31 04611914 bus:FullAccounts 2020-01-01 2020-12-31 04611914 bus:SmallCompaniesRegimeForAccounts 2020-01-01 2020-12-31 04611914 bus:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31

COMPANY REGISTRATION NUMBER: 04611914

Syntech Research UK Limited

Filleted Financial Statements

31 December 2020

Syntech Research UK Limited

Statement of Financial Position

31 December 2020

	2020	2019
		(restated)
Note	£	£

Fixed assets

Tangible assets	5	74,288	84,198

Current assets

Work in progress		45,153	17,780
Debtors	6	185,571	195,443
Cash at bank and in hand		170,925	98,184
		---------	---------
		401,649	311,407

Creditors: amounts falling due within one year	7	122,605	80,648
		---------	---------
Net current assets		279,044	230,759
		---------	---------
Total assets less current liabilities		353,332	314,957

Creditors: amounts falling due after more than one year	8	–	19,244

Provisions	10,840	–
	---------	---------
Net assets	342,492	295,713
	---------	---------

Capital and reserves

Called up share capital	10,000	9,250
Share premium account	25,718	3,750
Profit and loss account	306,774	282,713
	---------	---------
Shareholders funds	342,492	295,713
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Syntech Research UK Limited

Statement of Financial Position (continued)

31 December 2020

These financial statements were approved by the board of directors and authorised for issue on 1 October 2021 , and are signed on behalf of the board by:

Mr Jambon
Director

Company registration number: 04611914

Syntech Research UK Limited

Notes to the Financial Statements

Year ended 31 December 2020

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 2 at 10a Old Hall Barns, Thurston Road, Pakenham, Bury St. Edmunds, Suffolk, IP31 2NG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	15% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Work in progress is measured at the amount expected to be realised for work performed but not invoiced.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2019: 10 ).

5. Tangible assets

	Long leasehold property	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2020 (as restated)	29,186	8,346	2,160	150,141	189,833
Additions	–	3,864	3,145	9,947	16,956
Disposals	–	–	–	( 19,650)	( 19,650)
	--------	--------	-------	---------	---------
At 31 December 2020	29,186	12,210	5,305	140,438	187,139
	--------	--------	-------	---------	---------
Depreciation
At 1 January 2020	11,518	5,538	1,249	87,330	105,635
Charge for the year	2,918	1,668	228	15,835	20,649
Disposals	–	–	–	( 13,433)	( 13,433)
	--------	--------	-------	---------	---------
At 31 December 2020	14,436	7,206	1,477	89,732	112,851
	--------	--------	-------	---------	---------
Carrying amount
At 31 December 2020	14,750	5,004	3,828	50,706	74,288
	--------	--------	-------	---------	---------
At 31 December 2019	17,668	2,808	911	62,811	84,198
	--------	--------	-------	---------	---------

6. Debtors

	2020	2019
		(restated)
	£	£
Trade debtors	68,117	195,443
Amounts owed by group undertakings and undertakings in which the company has a participating interest	74,302	–
Other debtors	43,152	–
	---------	---------
	185,571	195,443
	---------	---------

7. Creditors: amounts falling due within one year

	2020	2019
		(restated)
	£	£
Trade creditors	40,779	7,999
Amounts owed to group undertakings and undertakings in which the company has a participating interest	42,880	37,802
Corporation tax	–	24,751
Social security and other taxes	15,963	2,901
Other creditors	22,983	7,195
	---------	--------
	122,605	80,648
	---------	--------

8. Creditors: amounts falling due after more than one year

	2020	2019
		(restated)
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	19,244
	----	--------

9. Summary audit opinion

The auditor's report for the year dated 1 October 2021 was qualified on the following basis:

With respect to work in progress having a carrying amount of £45,153 the audit evidence available to us was limited and owing to the nature of the company's records, we were unable to obtain sufficient appropriate audit evidence nor confirm the amount by using other audit procedures.

The senior statutory auditor was P Stewart , for and on behalf of Gregory, Priestley & Stewart .

10. Controlling party

The parent undertaking is SynTech Research France Sas and its registered office is 613 Route Du Bois De Loyse, F-71570, La Chapelle De Guinchay, France.