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REGISTERED NUMBER: 09533674 (England and Wales)
















Financial Statements

for the Year Ended 30 April 2023

for

System 15 Limited

System 15 Limited (Registered number: 09533674)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


System 15 Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: N P Rowntree
R F E Wood
E Marden





REGISTERED OFFICE: Kestrel Court
Waterwells Business Park
Quedgeley
Gloucester
Gloucestershire
GL2 2AT





REGISTERED NUMBER: 09533674 (England and Wales)





ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

System 15 Limited

Report of the Accountants to the Directors of
System 15 Limited


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 and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. 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 the Company 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. You consider that the Company 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 the Company. 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.






GCSD Accountants Limited


24 October 2023

System 15 Limited (Registered number: 09533674)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,382 9,585

CURRENT ASSETS
Debtors 5 201,154 237,699
Cash at bank 139,792 21,689
340,946 259,388
CREDITORS
Amounts falling due within one year 6 141,588 110,018
NET CURRENT ASSETS 199,358 149,370
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,740

158,955

CREDITORS
Amounts falling due after more than
one year

7

(37,310

)

(42,838

)

PROVISIONS FOR LIABILITIES (1,723 ) (1,031 )
NET ASSETS 168,707 115,086

System 15 Limited (Registered number: 09533674)

Balance Sheet - continued
30 April 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 168,607 114,986
168,707 115,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 24 October 2023 and were signed on its behalf by:




R F E Wood - Director N P Rowntree - Director




E Marden - Director


System 15 Limited (Registered number: 09533674)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. STATUTORY INFORMATION

System 15 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

System 15 Limited (Registered number: 09533674)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


2. ACCOUNTING POLICIES - continued

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 11 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 May 2022 10,850 10,195 22,653 43,698
Additions - 1,205 4,994 6,199
Disposals (2,712 ) - (1,506 ) (4,218 )
At 30 April 2023 8,138 11,400 26,141 45,679
DEPRECIATION
At 1 May 2022 6,691 8,485 18,937 34,113
Charge for year 1,899 1,392 3,343 6,634
Eliminated on disposal (1,944 ) - (1,506 ) (3,450 )
At 30 April 2023 6,646 9,877 20,774 37,297
NET BOOK VALUE
At 30 April 2023 1,492 1,523 5,367 8,382
At 30 April 2022 4,159 1,710 3,716 9,585

System 15 Limited (Registered number: 09533674)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 74,029 76,809
Other debtors 2,288 11,954
Directors' current accounts 70,120 64,883
Prepayments and accrued income 54,717 84,053
201,154 237,699

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 5,529 5,392
Trade creditors 27,356 15,413
Tax 53,838 44,040
Social security and other taxes 4,279 4,450
VAT 48,558 35,687
Other creditors 2,028 4,086
Accrued expenses - 950
141,588 110,018

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans - 1-2 years 5,668 5,528
Other loans - 2-5 years 31,642 37,310
37,310 42,838

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 12,354

System 15 Limited (Registered number: 09533674)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
E Marden
Balance outstanding at start of year 21,188 (312 )
Amounts advanced 53,237 41,204
Amounts repaid (51,752 ) (19,704 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,673 21,188

N P Rowntree
Balance outstanding at start of year 21,640 (312 )
Amounts advanced 53,606 42,007
Amounts repaid (51,925 ) (20,055 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,321 21,640

R F E Wood
Balance outstanding at start of year 22,055 (312 )
Amounts advanced 54,971 44,146
Amounts repaid (52,900 ) (21,779 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,126 22,055