Cynergy UK Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05290700 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

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

1,057,142

1,321,428

Tangible assets

5

17,764

11,984

1,074,906

1,333,412

CURRENT ASSETS

Debtors

244,484

262,139

Cash at bank and in hand

106,587

262,965

351,071

525,104

CREDITORS

Amounts falling due within one year

546,353

723,332

NET CURRENT LIABILITIES

(195,282

)

(198,228

)

TOTAL ASSETS LESS CURRENT LIABILITIES

879,624

1,135,184

CREDITORS

Amounts falling due after more than one year

1,002,851

1,004,242

NET (LIABILITIES)/ASSETS

(123,227

)

130,942

CAPITAL AND RESERVES

Allotted, called up and fully paid share capital

100

100

Retained earnings

(123,327

)

130,842

SHAREHOLDERS' FUNDS

(123,227

)

130,942

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 2017 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 27 February 2018 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. At

31 May 2017 £1,441,179 (2016: £1,487,304) was due to 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated

useful economic life of seven years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated

amortisation and any accumulated impairment losses.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2016 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2016

and 31 May 2017

1,850,000

AMORTISATION

At 1 June 2016

528,572

Amortisation for year

264,286

At 31 May 2017

792,858

NET BOOK VALUE

At 31 May 2017

1,057,142

At 31 May 2016

1,321,428

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2016

24,517

Additions

11,781

Disposals

(5,307

)

At 31 May 2017

30,991

DEPRECIATION

At 1 June 2016

12,533

Charge for year

5,226

Eliminated on disposal

(4,532

)

At 31 May 2017

13,227

NET BOOK VALUE

At 31 May 2017

17,764

At 31 May 2016

11,984

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

4,242

5,611

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