Company Registration No. 03825713 (England and Wales)
SYNCBEAM LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
SYNCBEAM LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SYNCBEAM LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Investments
2
549,154
1,843,591
Current assets
Debtors
3
103,695,308
103,242,407
Cash at bank and in hand
46,160
13,875
103,741,468
103,256,282
Creditors: amounts falling due within one year
(4,198)
(253,598)
Net current assets
103,737,270
103,002,684
Total assets less current liabilities
104,286,424
104,846,275
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
104,286,324
104,846,175
Shareholders' funds
104,286,424
104,846,275
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 December 2016
Mr N W Wray
Director
Company Registration No. 03825713
SYNCBEAM LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Investments
Fixed asset investments are
valued at historical cost, unless their market value is less than cost, and the diminution in market value is considered to be permanent. Profits and losses on disposals of investments are reflected in the profit and loss account, and included in "Income from fixed asset investments".
1.4
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Investments
£
Cost
At 1 April 2015
2,290,677
Disposals
(1,741,523)
At 31 March 2016
549,154
Depreciation
At 1 April 2015
447,084
On disposals
(447,084)
At 31 March 2016
-
Net book value
At 31 March 2016
549,154
At 31 March 2015
1,843,591
3
Debtors
Debtors include an amount of £103,695,308 (2015 - £98,706,407) which is due after more than one year.
SYNCBEAM LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100