REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 August 2021 |
|
for |
|
Synthesized Ltd |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 August 2021 |
|
for |
|
Synthesized Ltd |
Synthesized Ltd (Registered number: 10903020) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the year ended 31 August 2021 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Chartered Accountants' Report | 7 |
Synthesized Ltd |
|
Company Information |
for the year ended 31 August 2021 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
1-2 Charterhouse Mews |
London |
EC1M 6BB |
Synthesized Ltd (Registered number: 10903020) |
|
Balance Sheet |
31 August 2021 |
|
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Share premium |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
Synthesized Ltd (Registered number: 10903020) |
|
Balance Sheet - continued |
31 August 2021 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
Synthesized Ltd (Registered number: 10903020) |
|
Notes to the Financial Statements |
for the year ended 31 August 2021 |
|
1. | STATUTORY INFORMATION |
|
Synthesized Ltd is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Going Concern |
The directors have considered the ability of the company to continue as a going concern for a period of at least 12 months from the date of signing the financial statements. Having reviewed the current financial position and the forecasts for the next 12 months, the going concern assumption is considered appropriate. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Revenue recognition |
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. |
|
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 |
|
|
Computer equipment: 25% Straight line, four years |
Office equipment: 25% Straight line, four years |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
|
Synthesized Ltd (Registered number: 10903020) |
|
Notes to the Financial Statements - continued |
for the year ended 31 August 2021 |
|
2. | ACCOUNTING POLICIES - continued |
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. |
|
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
|
|
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. |
|
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. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 September 2020 |
and 31 August 2021 |
|
AMORTISATION |
At 1 September 2020 |
|
Charge for year |
|
At 31 August 2021 |
|
NET BOOK VALUE |
At 31 August 2021 |
|
At 31 August 2020 |
|
Synthesized Ltd (Registered number: 10903020) |
|
Notes to the Financial Statements - continued |
for the year ended 31 August 2021 |
|
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 September 2020 |
|
Additions |
|
At 31 August 2021 |
|
DEPRECIATION |
At 1 September 2020 |
|
Charge for year |
|
At 31 August 2021 |
|
NET BOOK VALUE |
At 31 August 2021 |
|
At 31 August 2020 |
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. | RELATED PARTY DISCLOSURES |
|
At the balance sheet date included within Other Debtors is a balance of £4,300 (2020: £3,750) due from D Borovikov, and £147 (2020: £646.50) owed to N Baldin, directors of the company. |
|
9. | POST BALANCE SHEET EVENTS |
|
On 30th December 2021 the Company issued 25,211 B1 Ordinary shares, 19,619 B2 Ordinary shares and 2,181 B3 Ordinary shares at a nominal value of £0.00001 per share. |
|
On 17th January 2022 the Company issued 6,279 B1 Ordinary shares at a nominal value of £0.00001 per share. |
|
10. | ULTIMATE CONTROLLING PARTY |
|
The ultimate controlling party is
|
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Synthesized Ltd |
|
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
|
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Synthesized Ltd for the year ended 31 August 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
|
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
|
This report is made solely to the Board of Directors of Synthesized Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Synthesized Ltd and state those matters that we have agreed to state to the Board of Directors of Synthesized Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Synthesized Ltd and its Board of Directors, as a body, for our work or for this report. |
|
It is your duty to ensure that Synthesized Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Synthesized Ltd. You consider that Synthesized Ltd is exempt from the statutory audit requirement for the year. |
|
We have not been instructed to carry out an audit or a review of the financial statements of Synthesized Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
|
|
|
|
|
|
|
1-2 Charterhouse Mews |
London |
EC1M 6BB |
|
|
|