SYNERGY WASTE SOLUTIONS LTD
SYNERGY WASTE SOLUTIONS LTD
Registered number: 8130448
Unaudited Financial Statements
For The Year Ended 30 June 2017
SYNERGY WASTE SOLUTIONS LTD
Unaudited Financial Statements
For The Year Ended 30 June 2017
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
SYNERGY WASTE SOLUTIONS LTD
Balance Sheet
As at
30 June 2017
Balance Sheet
Registered number:
8130448
For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 7 |
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| Investments | 8 |
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| CURRENT ASSETS | |||||
| Debtors | 9 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 10 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 12 |
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| Share premium account |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 134,021 | 76,294 | |||
Page 1
SYNERGY WASTE SOLUTIONS LTD
Balance Sheet (continued)
As at
30 June 2017
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
SYNERGY WASTE SOLUTIONS LTD
Notes to the Unaudited Accounts
For The Year Ended 30 June 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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| Computer Equipment |
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1.4.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.5.
Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.6.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.7.
Pensions
The company does not operate any pension schemes.
1.8.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
Page 3
SYNERGY WASTE SOLUTIONS LTD
Notes to the Unaudited Accounts (continued)
For The Year Ended 30 June 2017
4.
Average Number of Employees
Average number of employees during the year, including directors, during the year was as follows:
| 2017 | 2016 | ||
|---|---|---|---|
| Office and administration |
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| Sales, marketing and distribution |
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7.
Tangible Assets
| Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at |
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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Page 4
SYNERGY WASTE SOLUTIONS LTD
Notes to the Unaudited Accounts (continued)
For The Year Ended 30 June 2017
8.
Investments
| Unlisted | |
|---|---|
| £ | |
| Cost | |
| As at |
20,268 |
| Disposals | (20,268) |
| As at |
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| Provision | |
| As at |
- |
| As at |
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| Net Book Value | |
| As at |
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| As at |
20,268 |
The company acquired the whole of the issued schare capital of Greentopia Ltd on 1 October 2015 and sold it on 2 June 2017. The company's principal activity is the collection and disposal of garden waste. The investment represented the cost of acquiring the company.
The profit on disposal was ££11,082.
9.
Debtors
| 2017 | 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors (1) |
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| Amounts owed by subsidiaries |
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| Due after more than one year | |||
| Deferred tax current asset |
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The deferred taxation asset is made up of accelerated capital allowances and tax losses available for set off against future taxable profits of £25,843 (2015 £55,434).
Page 5
SYNERGY WASTE SOLUTIONS LTD
Notes to the Unaudited Accounts (continued)
For The Year Ended 30 June 2017
10.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Other taxes and social security |
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| VAT |
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| Accruals and deferred income |
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11.
Deferred Taxation
| 2017 | 2016 | ||
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| £ | £ | ||
| Deferred taxation |
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| Deferred tax |
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The provision for deferred taxation is made up of accelerated capital allowances
13.
Controlling Party
The company's controlling party is C M Horney by virtue of his ownership of 27.8% of the issued share capital in the company.
14.
General Information
SYNERGY WASTE SOLUTIONS LTD Registered number 8130448 is a limited by shares company incorporated in England & Wales. The Registered Office is Rayford House, School Road, Hove, East Sussex, BN3 5HX.
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