REGISTERED NUMBER: 04277535 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Synergy Display Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

9

DIRECTORS:

P L Walters

R J T Williams

A J Phimister

R J Pease

J P Kirk

SECRETARY:

Mrs C L Walters

REGISTERED OFFICE:

Enterprise House

Timmis Road

Lye

Stourbridge

West Midlands

DY9 7BQ

REGISTERED NUMBER:

04277535 (England and Wales)

ACCOUNTANTS:

IRT Accountancy Services

Chartered Certified Accountants

3 Johndory

Dosthill

Tamworth

Staffordshire

B77 1NY

FIXED ASSETS

Intangible assets

4

122,412

146,896

Tangible assets

5

79,998

63,226

202,410

210,122

CURRENT ASSETS

Stocks

45,943

62,684

Debtors

6

201,733

199,142

Prepayments and accrued income

15,429

13,479

Cash at bank and in hand

62,298

35,778

325,403

311,083

CREDITORS

Amounts falling due within one year

7

405,728

402,025

NET CURRENT LIABILITIES

(80,325

)

(90,942

)

TOTAL ASSETS LESS CURRENT LIABILITIES

122,085

119,180

CREDITORS

Amounts falling due after more than one year

8

(28,616

)

(13,992

)

PROVISIONS FOR LIABILITIES

(7,525

)

(11,112

)

NET ASSETS

85,944

94,076

CAPITAL AND RESERVES

Called up share capital

80

80

Share premium

9,998

9,998

Capital redemption reserve

20

20

Retained earnings

75,846

83,978

SHAREHOLDERS' FUNDS

85,944

94,076

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 3 May 2018 and were signed on its behalf by:

A J Phimister - Director

1.	STATUTORY INFORMATION

Synergy Display 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

The company recognises revenue when significant risks and rewards of ownership of the goods have

been transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the

economic benefits associated with the transaction will flow to the company and the costs incurred or to

be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the

goods.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten 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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment

losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

On disposal, the difference between the net disposal proceeds and the carrying amount of the item

sold is recognised in profit or loss, and included in other operating income.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price including transaction costs. Subsequently, they are measured at

amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes

a finance transaction it is measured at present value.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs.

Subsequently, they are measured at amortised cost using the effective interest rate method, less

impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2016 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2017

and 31 December 2017

244,832

AMORTISATION

At 1 January 2017

97,936

Charge for year

24,484

At 31 December 2017

122,420

NET BOOK VALUE

At 31 December 2017

122,412

At 31 December 2016

146,896

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

157,398

Additions

42,213

Disposals

(6,476

)

At 31 December 2017

193,135

DEPRECIATION

At 1 January 2017

94,172

Charge for year

25,441

Eliminated on disposal

(6,476

)

At 31 December 2017

113,137

NET BOOK VALUE

At 31 December 2017

79,998

At 31 December 2016

63,226

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases

are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2017

24,000

Additions

38,260

Transfer to ownership

(11,005

)

At 31 December 2017

51,255

DEPRECIATION

At 1 January 2017

15,992

Charge for year

2,802

Transfer to ownership

(11,005

)

At 31 December 2017

7,789

NET BOOK VALUE

At 31 December 2017

43,466

At 31 December 2016

8,008

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

201,733

199,142

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

3,505

3,289

Hire purchase contracts and finance leases

14,222

4,848

Trade creditors

121,009

113,939

Taxation and social security

76,126

81,928

Other creditors

190,866

198,021

405,728

402,025

Included in other creditors is an amount of £147,156, (2016: £117,666) which is a liability due to Lloyds

Commercial Finance Ltd. The balance is secured against trade debtors as shown in the debtors note.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans

2,771

6,283

Hire purchase contracts and finance leases

25,845

7,709

28,616

13,992

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Bank loans

6,276

9,572

Hire purchase contracts and finance leases

40,067

12,557

Other creditors

147,156

117,666

193,499

139,795

The company has allowed a fixed and floating charge over the company's assets, as collateral for the

bank and factoring company borrowings. In addition certain directors have given personal guarantees

of up to £67,793 in total.

10.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance

sheet amount to £159,375 (2016 - £5,833).

As at 31 December 2017, the company had outstanding pension commitments of £12,250 (2016 -

£Nil)

11.	RELATED PARTY DISCLOSURES

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 Statement of Comprehensive

Income 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 Synergy Display Limited for the year ended 31 December 2017 which comprise

the Statement of Income and Retained Earnings, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Synergy Display Limited, 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 Synergy Display Limited and state those matters that we have agreed to state to the Board of Directors of Synergy Display Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Synergy Display Limited 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 profit of Synergy Display Limited. You consider that Synergy Display Limited 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 Synergy Display Limited. 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.

IRT Accountancy Services

Chartered Certified Accountants

3 Johndory

Dosthill

Tamworth

Staffordshire

B77 1NY

3 May 2018